Alcoa (NYSE:AA) Stock Gets Price Target Trim from Morgan Stanley

Alcoa (NYSE:AA) had its price target decreased by Morgan Stanley from $53.00 to $50.00 in a report published on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the industrial products company’s stock.

AA has been the topic of several other research reports. UBS Group cut their price target on Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. BMO Capital Markets decreased their price objective on Alcoa from $60.00 to $55.00 and set a “market perform” rating for the company in a research note on Friday, July 17th. Wells Fargo & Company lowered their price objective on Alcoa from $71.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, September 18th. Freedom Broker upped their target price on shares of Alcoa from $64.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Alcoa from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, July 17th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $61.00.

Alcoa Stock Performance

NYSE:AA opened at $42.27 on Wednesday. Alcoa has a 52 week low of $35.01 and a 52 week high of $84.38. The company has a fifty day simple moving average of $47.57 and a two-hundred day simple moving average of $56.62. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. The company has a market cap of $11.15 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 0.47 and a beta of 1.74.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.13). The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same quarter in the previous year, the business posted $0.39 earnings per share. As a group, equities analysts anticipate that Alcoa will post 6.76 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were paid a $0.10 dividend. The ex-dividend date was Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. Alcoa’s dividend payout ratio (DPR) is currently 8.23%.

Insider Transactions at Alcoa

In other news, EVP Renato Bacchi sold 700 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $51.02, for a total value of $35,714.00. Following the transaction, the executive vice president owned 74,930 shares in the company, valued at approximately $3,822,928.60. This represents a 0.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tammi A. Jones sold 15,628 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $50.60, for a total value of $790,776.80. Following the completion of the transaction, the executive vice president owned 39,819 shares in the company, valued at approximately $2,014,841.40. The trade was a 28.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Alcoa

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Alcoa during the 2nd quarter worth $1,528,523,000. Castle Hook Partners LP acquired a new position in Alcoa in the fourth quarter valued at $210,874,000. Bank of New York Mellon Corp acquired a new position in Alcoa in the second quarter valued at $166,194,000. Amundi raised its holdings in shares of Alcoa by 47.8% in the first quarter. Amundi now owns 2,009,013 shares of the industrial products company’s stock valued at $133,258,000 after buying an additional 649,693 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. raised its holdings in shares of Alcoa by 74.7% in the second quarter. Maple Rock Capital Partners Inc. now owns 1,577,720 shares of the industrial products company’s stock valued at $82,262,000 after buying an additional 674,400 shares during the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.

Alcoa Company Profile

Alcoa Corporation (NYSE:AA) is a global producer of aluminum and an integrated participant in the aluminum industry. Its operations span the value chain from bauxite mining and alumina refining to aluminum smelting, casting and recycling.

The company supplies aluminum products used in transportation, building and construction, packaging, aerospace, automotive, electrical and other industrial applications. Its portfolio includes primary aluminum, alumina, aluminum billets and other cast products, as well as low-carbon and recycled aluminum offerings.

Alcoa traces its origins to the Pittsburgh Reduction Company, founded in 1888, and has helped develop the modern aluminum industry.