Alcoa (NYSE:AA) Trading Down 2%

Shares of Alcoa Co. (NYSE:AA) were down 2% on Tuesday . The stock traded as low as $33.42 and last traded at $33.80. Approximately 854,532 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 5,993,510 shares. The stock had previously closed at $34.50.

Analyst Ratings Changes

AA has been the subject of a number of research reports. B. Riley increased their target price on shares of Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a report on Wednesday, September 4th. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Bank of America dropped their target price on Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. Finally, Morgan Stanley dropped their target price on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alcoa currently has a consensus rating of “Hold” and a consensus price target of $40.27.

Alcoa Stock Up 1.2 %

The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of -9.14 and a beta of 2.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. The business’s 50 day moving average is $32.78 and its 200 day moving average is $35.62.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.84 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.35) earnings per share. Sell-side analysts anticipate that Alcoa Co. will post 0.7 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa’s payout ratio is -10.64%.

Institutional Investors Weigh In On Alcoa

A number of large investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new stake in Alcoa during the 2nd quarter valued at approximately $27,000. Spire Wealth Management lifted its position in Alcoa by 252.5% during the first quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 644 shares during the period. Scarborough Advisors LLC purchased a new stake in Alcoa in the fourth quarter valued at $39,000. Quest Partners LLC acquired a new stake in Alcoa during the 4th quarter worth about $40,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Alcoa by 56.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock valued at $55,000 after buying an additional 576 shares during the last quarter. Hedge funds and other institutional investors 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.