Key Points
- Alcoa EVP Renato Bacchi sold 700 shares at an average price of $51.02, generating $35,714. After the transaction, he retained 74,930 shares.
- Alcoa’s shares opened at $50.95, with a market capitalization of $13.45 billion; the stock has traded between $30.21 and $84.38 over the past 12 months.
- The company recently reported quarterly EPS of $2.12, below the $2.25 consensus estimate, and pays a quarterly dividend of $0.10, representing a 0.8% annualized yield. Analysts’ average rating is Hold, with an average price target of $61.09.
Alcoa (NYSE:AA - Get Free Report) EVP Renato Bacchi sold 700 shares of Alcoa stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $51.02, for a total transaction of $35,714.00. Following the completion of the sale, the executive vice president owned 74,930 shares in the company, valued at $3,822,928.60. This trade represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Alcoa Stock Performance
Shares of AA opened at $50.95 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. Alcoa has a 12 month low of $30.21 and a 12 month high of $84.38. The firm has a fifty day simple moving average of $48.78 and a 200 day simple moving average of $59.78. The stock has a market capitalization of $13.45 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 0.56 and a beta of 1.63.
Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.13). The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same period last year, the firm earned $0.39 earnings per share. Research analysts forecast that Alcoa will post 6.55 EPS for the current fiscal year.
Alcoa Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, August 11th. Alcoa's dividend payout ratio (DPR) is currently 8.23%.
Institutional Trading of Alcoa
Several large investors have recently modified their holdings of the stock. Basepoint Wealth LLC bought a new position in shares of Alcoa in the fourth quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Alcoa during the second quarter worth about $25,000. Advisory Services Network LLC bought a new stake in Alcoa during the third quarter worth about $27,000. Caitong International Asset Management Co. Ltd grew its stake in Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company's stock worth $31,000 after buying an additional 581 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new stake in Alcoa during the first quarter worth about $35,000.
Analyst Ratings Changes
Several analysts have issued reports on AA shares. Morgan Stanley reaffirmed an "equal weight" rating and set a $53.00 price target (down from $79.00) on shares of Alcoa in a research report on Wednesday, July 8th. Argus lowered their price objective on shares of Alcoa from $73.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. B. Riley Financial dropped their target price on shares of Alcoa from $92.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Weiss Ratings raised Alcoa from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, June 17th. Finally, UBS Group dropped their price objective on Alcoa from $80.00 to $68.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $61.09.
Read Our Latest Stock Report on AA
About Alcoa
(
Get Free Report)
Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company's operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.
Alcoa's product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.
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