Alcoa Co. (NYSE:AA) EVP Renato Bacchi Sells 23,867 Shares

Alcoa Co. (NYSE:AA) EVP Renato Bacchi sold 23,867 shares of the company’s 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 sale, the executive vice president now owns 57,317 shares in the company, valued at $2,423,935.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Alcoa Stock Down 2.2 %

AA stock opened at $41.10 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. Alcoa Co. has a fifty-two week low of $23.17 and a fifty-two week high of $45.48. The stock’s 50 day simple moving average is $35.97 and its 200 day simple moving average is $36.98. The company has a market cap of $7.38 billion, a P/E 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 analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. Alcoa’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned ($1.14) EPS. On average, research analysts expect that Alcoa Co. will post 0.29 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

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

Analyst Ratings Changes

AA has been the topic of several analyst reports. Bank of America upgraded Alcoa from a “neutral” rating to a “buy” rating and upped their target price for the company from $43.00 to $52.00 in a report on Tuesday, October 1st. BMO Capital Markets increased their price objective on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. Morgan Stanley lifted their target price on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. B. Riley Financial reaffirmed a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. Finally, StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Alcoa presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.75.

Institutional Investors Weigh In On Alcoa

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in Alcoa by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock worth $265,132,000 after purchasing an additional 390,930 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new position in shares of Alcoa during the second quarter valued at approximately $93,061,000. L1 Capital Pty Ltd bought a new stake in Alcoa during the first quarter worth $72,658,000. Capital Research Global Investors raised its position in Alcoa by 29.8% in the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock valued at $69,869,000 after buying an additional 475,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Alcoa by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company’s stock valued at $49,958,000 after acquiring an additional 444,393 shares in the last quarter. 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.