Alcoa Co. (NYSE:AA) Receives Average Rating of “Moderate Buy” from Brokerages

Alcoa Co. (NYSE:AA) has received a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $44.75.

Several brokerages recently issued reports on AA. Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and raised their target price for the stock from $43.00 to $52.00 in a report on Tuesday, October 1st. B. Riley Financial reaffirmed a “neutral” rating and issued a $41.00 price objective on shares of Alcoa in a report on Tuesday, September 17th. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $41.00 to $50.00 in a report on Thursday, October 17th. Finally, BMO Capital Markets lifted their price objective on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, October 17th.

Alcoa Trading Down 2.2 %

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

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter last year, the company posted ($1.14) earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. Equities research analysts predict that Alcoa will post 0.29 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be paid 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 dividend yield of 0.97%. Alcoa’s dividend payout ratio is currently -10.64%.

Insider Transactions at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the transaction, the executive vice president now directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.08% of the company’s stock.

Hedge Funds Weigh In On Alcoa

A number of institutional investors and hedge funds have recently bought and sold shares of AA. Newbridge Financial Services Group Inc. acquired a new position in Alcoa in the 2nd quarter valued at about $27,000. UMB Bank n.a. boosted its holdings in Alcoa by 481.7% in the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 631 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Alcoa by 1,501.9% in the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 1,592 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Alcoa by 15.1% in the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 309 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Alcoa in the 1st quarter valued at about $101,000. 82.39% of the stock is currently owned by institutional investors and hedge funds.

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.