Alcoa Inc. (AA) Stock Price Down 2.5%
Alcoa Inc. (NYSE:AA) shares traded down 2.5% during mid-day trading on Friday . The stock traded as low as $10.14 and last traded at $10.16, with a volume of 6,553,514 shares trading hands. The stock had previously closed at $10.42.
Several research firms recently weighed in on AA. Argus reissued a “hold” rating on shares of Alcoa in a research note on Friday, July 15th. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price objective on shares of Alcoa in a research note on Friday, July 15th. BMO Capital Markets reissued a “hold” rating and set a $9.00 price objective on shares of Alcoa in a research note on Tuesday, July 12th. Cowen and Company reissued a “hold” rating on shares of Alcoa in a research note on Tuesday, July 12th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Alcoa in a research note on Tuesday, July 12th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $11.31.
The company’s market capitalization is $13.38 billion. The company has a 50-day moving average price of $10.20 and a 200-day moving average price of $9.52.
Alcoa (NYSE:AA) last posted its quarterly earnings results on Monday, July 11th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The business had revenue of $5.30 billion for the quarter. During the same quarter last year, the firm earned $0.19 EPS. The business’s quarterly revenue was down 10.2% on a year-over-year basis. Equities analysts predict that Alcoa Inc. will post $0.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Friday, August 5th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Wednesday, August 3rd.
In other Alcoa news, Director Ulrich Schmidt purchased 5,000 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were purchased at an average cost of $10.40 per share, for a total transaction of $52,000.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $104,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Several institutional investors have bought and sold shares of the company. BlackRock Advisors LLC boosted its position in Alcoa by 393.4% in the fourth quarter. BlackRock Advisors LLC now owns 3,664,862 shares of the company’s stock worth $36,173,000 after buying an additional 2,922,096 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Alcoa by 215.2% in the fourth quarter. Jennison Associates LLC now owns 115,054 shares of the company’s stock worth $1,136,000 after buying an additional 78,549 shares in the last quarter. Suntrust Banks Inc. boosted its position in shares of Alcoa by 28.1% in the fourth quarter. Suntrust Banks Inc. now owns 136,749 shares of the company’s stock worth $1,348,000 after buying an additional 29,982 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Alcoa by 635.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 3,124,725 shares of the company’s stock worth $30,841,000 after buying an additional 2,700,000 shares in the last quarter. Finally, Advantus Capital Management Inc boosted its position in shares of Alcoa by 2.0% in the fourth quarter. Advantus Capital Management Inc now owns 125,276 shares of the company’s stock worth $1,236,000 after buying an additional 2,445 shares in the last quarter.
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
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