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

Shares of Alcoa Co. (NYSE:AA) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $46.45.

A number of research firms have recently issued reports on AA. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Argus upgraded Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Wednesday, October 23rd. BMO Capital Markets upped their price objective on Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, B. Riley Financial reissued a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th.

Insider Activity at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the sale, the executive vice president now owns 57,317 shares of the company’s stock, valued at $2,423,935.93. The trade was a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.08% of the stock is owned by insiders.

Hedge Funds Weigh In On Alcoa

A number of institutional investors have recently bought and sold shares of AA. Mountaineer Partners Management LLC boosted its stake in shares of Alcoa by 4,023.0% in the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after buying an additional 10,534,036 shares during the last quarter. State Street Corp lifted its holdings in Alcoa by 23.3% in the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after acquiring an additional 1,805,915 shares during the period. Paloma Partners Management Co boosted its position in Alcoa by 11,317.8% in the 3rd quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company’s stock worth $55,084,000 after purchasing an additional 1,415,294 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Alcoa by 770.9% during the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock worth $56,599,000 after purchasing an additional 1,259,430 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Alcoa by 42.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock valued at $161,838,000 after purchasing an additional 1,239,479 shares in the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.

Alcoa Trading Down 1.0 %

Shares of NYSE AA opened at $35.89 on Thursday. Alcoa has a twelve month low of $24.86 and a twelve month high of $47.77. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $41.47 and a two-hundred day simple moving average of $37.89. The firm has a market cap of $9.27 billion, a PE ratio of -20.39, a price-to-earnings-growth ratio of 0.79 and a beta of 2.47.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.14) earnings per share. Analysts expect that Alcoa will post 0.9 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a $0.40 annualized dividend and a dividend yield of 1.11%. Alcoa’s payout ratio is currently -22.73%.

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.