Alcoa (NYSE:AA) Shares Down 5.8%

Alcoa Co. (NYSE:AAGet Free Report) dropped 5.8% on Tuesday . The stock traded as low as $29.21 and last traded at $29.23. Approximately 1,645,908 shares traded hands during trading, a decline of 73% from the average daily volume of 6,115,610 shares. The stock had previously closed at $31.03.

Analysts Set New Price Targets

AA has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Alcoa from $27.00 to $29.50 and gave the stock an “underweight” rating in a report on Thursday, January 18th. UBS Group began coverage on shares of Alcoa in a report on Tuesday, January 16th. They set a “sell” rating and a $29.00 price objective for the company. JPMorgan Chase & Co. raised their price target on shares of Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. HSBC began coverage on shares of Alcoa in a report on Thursday, December 7th. They issued a “hold” rating and a $29.00 price target for the company. Finally, Bank of America raised their price target on shares of Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Monday. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Alcoa has an average rating of “Hold” and a consensus target price of $30.88.

Check Out Our Latest Report on AA

Alcoa Stock Up 5.7 %

The company has a market cap of $5.63 billion, a price-to-earnings ratio of -8.59, a price-to-earnings-growth ratio of 2.15 and a beta of 2.44. The company has a current ratio of 1.45, a quick ratio of 0.74 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average price is $28.51 and its 200-day moving average price is $28.11.

Alcoa (NYSE:AAGet Free Report) last announced its earnings results on Wednesday, January 17th. The industrial products company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.29. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. Alcoa had a negative net margin of 6.17% and a negative return on equity of 6.56%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.70) EPS. Sell-side analysts predict that Alcoa Co. will post 0.33 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Tuesday, March 5th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Monday, March 4th. Alcoa’s payout ratio is presently -10.96%.

Insider Buying and Selling

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total transaction of $814,685.04. Following the sale, the executive vice president now directly owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Institutional Investors Weigh In On Alcoa

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Neo Ivy Capital Management bought a new stake in shares of Alcoa in the 2nd quarter valued at about $27,000. Fairfield Bush & CO. acquired a new position in Alcoa in the 1st quarter valued at about $29,000. Tennessee Valley Asset Management Partners acquired a new position in Alcoa in the 4th quarter valued at about $31,000. Resurgent Financial Advisors LLC acquired a new position in Alcoa in the 4th quarter valued at about $32,000. Finally, Private Wealth Management Group LLC acquired a new position in Alcoa in the 4th quarter valued at about $33,000.

About Alcoa

(Get Free Report)

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.

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