RBC Capital Markets reissued their sector perform rating on shares of Alcoa Inc. (NYSE:AA) in a research report released on Wednesday morning. RBC Capital Markets currently has a $31.00 target price on the stock, down from their previous target price of $33.00.
AA has been the subject of several other reports. 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 investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Alcoa presently has a consensus rating of Buy and a consensus target price of $17.74.
Shares of Alcoa (NYSE:AA) opened at 26.44 on Wednesday. The company’s market cap is $11.59 billion. Alcoa has a 52-week low of $18.42 and a 52-week high of $34.50. The stock’s 50 day moving average is $29.51 and its 200 day moving average is $29.79.
Alcoa (NYSE:AA) last released its quarterly earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, topping the Zacks’ 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 earned $5.21 billion during the quarter. During the same period last year, the firm earned $0.07 earnings per share. The business’s revenue was down 6.5% compared to the same quarter last year. Equities analysts forecast that Alcoa will post $0.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 4th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Wednesday, November 2nd. Alcoa’s dividend payout ratio is currently -63.15%.
In other news, Director Ulrich Schmidt bought 5,000 shares of Alcoa stock in a transaction on Wednesday, July 20th. The shares were bought at an average price of $10.40 per share, with a total value of $52,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $104,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cupps Capital Management LLC purchased a new position in Alcoa during the first quarter worth approximately $109,000. Citizens Financial Group Inc RI increased its position in Alcoa by 14.1% in the first quarter. Citizens Financial Group Inc RI now owns 11,349 shares of the company’s stock worth $109,000 after buying an additional 1,401 shares in the last quarter. AXA purchased a new position in Alcoa during the first quarter worth approximately $115,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in Alcoa during the second quarter worth approximately $121,000. Finally, Savant Capital LLC increased its position in Alcoa by 21.9% in the second quarter. Savant Capital LLC now owns 13,125 shares of the company’s stock worth $122,000 after buying an additional 2,360 shares in 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.
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