Alcoa Target of Unusually High Options Trading (NYSE:AA)

Alcoa Co. (NYSE:AA) saw unusually large options trading activity on Friday. Stock investors purchased 27,556 call options on the stock. This represents an increase of 53% compared to the typical volume of 18,056 call options.

Alcoa Stock Down 4.4 %

Shares of NYSE:AA opened at $30.58 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. Alcoa has a 52-week low of $27.12 and a 52-week high of $47.77. The business’s 50 day moving average is $34.75 and its 200 day moving average is $38.13. The stock has a market cap of $7.92 billion, a P/E ratio of -191.15, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Sell-side analysts predict that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Tuesday, March 4th. Alcoa’s payout ratio is currently -250.00%.

Institutional Trading of Alcoa

Several large investors have recently added to or reduced their stakes in AA. Bessemer Group Inc. lifted its stake in shares of Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 296 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Alcoa during the fourth quarter worth $29,000. Point72 Hong Kong Ltd acquired a new stake in shares of Alcoa in the fourth quarter valued at about $36,000. Smartleaf Asset Management LLC lifted its stake in shares of Alcoa by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock worth $39,000 after buying an additional 393 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Alcoa during the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AA shares. Bank of America lifted their target price on shares of Alcoa to $58.00 and gave the company a “buy” rating in a report on Friday, January 24th. Morgan Stanley dropped their price target on Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. B. Riley upgraded Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. HC Wainwright upped their target price on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Finally, Jefferies Financial Group cut their price objective on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Alcoa currently has a consensus rating of “Moderate Buy” and an average price target of $49.92.

About Alcoa

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.