Alcoa Co. (NYSE:AA) EVP Sells $1,009,335.43 in Stock

Alcoa Co. (NYSE:AA) EVP Renato Bacchi sold 23,867 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total value of $1,009,335.43. Following the completion of the transaction, the executive vice president now owns 57,317 shares in the company, valued at approximately $2,423,935.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Alcoa Trading Down 2.2 %

Shares of AA stock opened at $41.10 on Friday. The business’s fifty day moving average price is $35.97 and its 200 day moving average price is $36.98. The firm has a market capitalization of $7.38 billion, a PE ratio of -10.93 and a beta of 2.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. Alcoa Co. has a 1-year low of $23.17 and a 1-year high of $45.48.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the previous year, the firm earned ($1.14) earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts forecast that Alcoa Co. will post 0.29 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.97%. Alcoa’s payout ratio is -10.64%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Morgan Stanley boosted their price target on shares of Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Argus raised Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Wednesday. BMO Capital Markets boosted their target price on Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. Finally, UBS Group raised their price target on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new stake in Alcoa in the 1st quarter valued at approximately $593,000. Douglas Lane & Associates LLC boosted its stake in shares of Alcoa by 2.0% during the third quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock valued at $54,859,000 after acquiring an additional 27,217 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Alcoa during the second quarter valued at $706,000. Blue Trust Inc. increased its position in Alcoa by 536.7% during the 2nd quarter. Blue Trust Inc. now owns 2,878 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 2,426 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Alcoa in the 1st quarter valued at about $3,064,000. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Company Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.