Other analysts have also issued research reports about the company. Bank of America Corp. reiterated a buy rating and issued a $11.00 target price on shares of Alcoa in a research note on Tuesday, July 12th. Credit Suisse Group AG reiterated a buy rating on shares of Alcoa in a research note on Thursday, June 30th. Rosenblatt Securities reiterated a buy rating and issued a $15.00 target price on shares of Alcoa in a research note on Wednesday, June 15th. Macquarie reiterated a buy rating on shares of Alcoa in a research note on Tuesday, July 12th. Finally, Morgan Stanley reiterated a buy rating and issued a $12.00 target price on shares of Alcoa in a research note on Tuesday, August 16th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $17.74.
Alcoa (NYSE:AA) opened at 26.75 on Monday. The stock has a 50 day moving average price of $29.62 and a 200 day moving average price of $29.80. Alcoa has a 52-week low of $18.42 and a 52-week high of $34.50. The stock’s market cap is $11.73 billion.
Alcoa (NYSE:AA) last released its quarterly earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.21. Alcoa had a positive return on equity of 3.87% and a negative net margin of 0.88%. The company had revenue of $5.21 billion for the quarter. During the same quarter in the previous year, the company posted $0.07 EPS. The business’s quarterly revenue was down 6.5% on a year-over-year basis. Analysts expect that Alcoa will post $0.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 4th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Wednesday, November 2nd. Alcoa’s payout ratio is -63.15%.
In other news, Director Ulrich Schmidt acquired 5,000 shares of Alcoa stock in a transaction dated Wednesday, July 20th. The stock was purchased at an average cost of $10.40 per share, for a total transaction of $52,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $104,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Several hedge funds and other institutional investors have recently made changes to their positions in AA. Legal & General Group Plc boosted its position in shares of Alcoa by 3.6% in the first quarter. Legal & General Group Plc now owns 5,817,728 shares of the company’s stock valued at $55,747,000 after buying an additional 200,712 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Alcoa by 41.6% in the second quarter. Retirement Systems of Alabama now owns 1,555,399 shares of the company’s stock valued at $14,419,000 after buying an additional 457,196 shares in the last quarter. Orbis Allan Gray Ltd bought a new position in shares of Alcoa during the first quarter valued at $374,584,000. Geode Capital Management LLC boosted its position in shares of Alcoa by 2.3% in the first quarter. Geode Capital Management LLC now owns 10,720,212 shares of the company’s stock valued at $102,493,000 after buying an additional 240,383 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Alcoa during the second quarter valued at $180,000.
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.
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