Alcoa Inc. (AA) Trading Down 2.9%
Alcoa Inc. (NYSE:AA)’s share price traded down 2.9% during trading on Wednesday . The company traded as low as $10.16 and last traded at $10.20, with a volume of 8,783,262 shares traded. The stock had previously closed at $10.50.
Several research firms recently weighed in on AA. JPMorgan Chase & Co. restated a “hold” rating on shares of Alcoa in a research note on Tuesday, July 12th. BMO Capital Markets restated a “hold” rating and set a $9.00 target price on shares of Alcoa in a research note on Tuesday, July 12th. Vetr upgraded Alcoa from a “buy” rating to a “strong-buy” rating and set a $12.15 target price for the company in a research note on Tuesday, May 3rd. Rosenblatt Securities restated a “buy” rating and set a $15.00 target price on shares of Alcoa in a research note on Wednesday, June 15th. Finally, Macquarie restated a “buy” rating on shares of Alcoa in a research note on Tuesday, July 12th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $11.31.
The firm’s 50 day moving average is $10.38 and its 200-day moving average is $9.72. The stock’s market cap is $13.21 billion.
Alcoa (NYSE:AA) last posted its quarterly earnings data on Monday, July 11th. The company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.06. The firm earned $5.30 billion during the quarter. The business’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 earnings per share. On average, equities research analysts forecast that Alcoa Inc. will post $0.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Friday, August 5th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, August 3rd.
In other news, Director Ulrich Schmidt acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were bought at an average price of $10.40 per share, with a total value of $52,000.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $104,000. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Several institutional investors recently modified their holdings of the company. BlackRock Advisors LLC boosted its position in shares of 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 during the last quarter. Principal Financial Group Inc. boosted its position in shares of Alcoa by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 1,867,973 shares of the company’s stock worth $18,437,000 after buying an additional 36,478 shares during the last quarter. Finally, 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 during 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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