Several other equities analysts also recently commented on the company. Zacks Investment Research raised Alcoa from a hold rating to a buy rating and set a $11.00 price objective on the stock in a research report on Tuesday, October 4th. Morgan Stanley reaffirmed a buy rating and issued a $12.00 price objective on shares of Alcoa in a research report on Tuesday, August 16th. Credit Suisse Group AG reaffirmed a buy rating on shares of Alcoa in a research report on Tuesday, July 12th. Berenberg Bank reissued a hold rating and set a $9.00 price target on shares of Alcoa in a research report on Thursday, June 30th. Finally, Rosenblatt Securities reissued a buy rating and set a $15.00 price target on shares of Alcoa in a research report on Friday, July 15th. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $17.74.
Alcoa (NYSE:AA) opened at 26.75 on Tuesday. The stock’s market cap is $11.73 billion. Alcoa has a 52-week low of $18.42 and a 52-week high of $34.50. The stock has a 50 day moving average price of $29.62 and a 200 day moving average price of $29.80.
Alcoa (NYSE:AA) last announced its quarterly earnings data on Tuesday, October 11th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.21. The company had revenue of $5.21 billion for the quarter. Alcoa had a positive return on equity of 3.87% and a negative net margin of 0.88%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.07 EPS. Analysts expect that Alcoa will post $0.44 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 4th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.45%. The ex-dividend date is Wednesday, November 2nd. Alcoa’s dividend payout ratio (DPR) is -63.15%.
In related news, Director Ulrich Schmidt bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were purchased at an average cost of $10.40 per share, with a total value of $52,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $104,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Hedge funds have recently bought and sold shares of the company. Orbis Allan Gray Ltd acquired a new stake in shares of Alcoa during the first quarter valued at approximately $374,584,000. First Pacific Advisors LLC raised its stake in shares of Alcoa by 13.5% in the second quarter. First Pacific Advisors LLC now owns 64,456,242 shares of the company’s stock valued at $597,509,000 after buying an additional 7,650,380 shares during the last quarter. Slate Path Capital LP acquired a new stake in shares of Alcoa during the second quarter valued at approximately $65,261,000. Systematic Financial Management LP acquired a new stake in shares of Alcoa during the second quarter valued at approximately $43,763,000. Finally, Vanguard Group Inc. raised its stake in shares of Alcoa by 2.9% in the second quarter. Vanguard Group Inc. now owns 118,489,630 shares of the company’s stock valued at $1,098,398,000 after buying an additional 3,387,829 shares during the last quarter.
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
Receive News & Ratings for Alcoa Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa Inc. and related companies with MarketBeat.com's FREE daily email newsletter.