Alcoa Inc. (NYSE:AA) released its quarterly earnings data on Tuesday. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.11 by $0.21. Alcoa had a positive return on equity of 3.44% and a negative net margin of 1.45%. The company had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same period last year, the company posted $0.07 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 4th will be given a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $0.12 annualized dividend and a yield of 0.38%. Alcoa’s dividend payout ratio (DPR) is -42.85%.
In other Alcoa news, Director Ulrich Schmidt bought 5,000 shares of the business’s stock in a transaction on Wednesday, July 20th. The stock was purchased at an average price of $10.40 per share, for a total transaction of $52,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $104,000. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.
Several institutional investors have recently added to or reduced their stakes in AA. BlackRock Investment Management LLC raised its position in Alcoa by 1.1% in the second quarter. BlackRock Investment Management LLC now owns 2,855,834 shares of the company’s stock worth $26,474,000 after buying an additional 31,472 shares during the period. BlackRock Inc. raised its position in Alcoa by 10.0% in the second quarter. BlackRock Inc. now owns 3,289,866 shares of the company’s stock worth $30,498,000 after buying an additional 300,267 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Alcoa by 3.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 34,741,129 shares of the company’s stock worth $322,050,000 after buying an additional 1,074,056 shares during the period. Ameritas Investment Partners Inc. raised its position in Alcoa by 6.5% in the second quarter. Ameritas Investment Partners Inc. now owns 25,999 shares of the company’s stock worth $241,000 after buying an additional 1,598 shares during the period. Finally, BlackRock Japan Co. Ltd raised its position in Alcoa by 11.3% in the second quarter. BlackRock Japan Co. Ltd now owns 1,820,180 shares of the company’s stock worth $16,873,000 after buying an additional 184,381 shares during the period.
Several research analysts have commented on the company. Credit Suisse Group AG set a $39.00 target price on Alcoa and gave the company a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. restated a “hold” rating on shares of Alcoa in a research note on Tuesday, July 12th. BMO Capital Markets restated a “hold” rating and set a $9.00 target price on shares of Alcoa in a research note on Tuesday, July 12th. Rosenblatt Securities restated a “buy” rating and set a $15.00 target price on shares of Alcoa in a research note on Wednesday, June 15th. Finally, Macquarie restated a “buy” rating on shares of Alcoa in a research note on Tuesday, July 12th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $13.31.
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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