Alcoa (NYSE:AA) EVP Renato Bacchi Sells 700 Shares

Alcoa (NYSE:AA) EVP Renato Bacchi sold 700 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $51.02, for a total transaction of $35,714.00. Following the transaction, the executive vice president owned 74,930 shares in the company, valued at approximately $3,822,928.60. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Alcoa Stock Up 2.0%

Shares of NYSE AA opened at $50.95 on Wednesday. Alcoa has a 1 year low of $30.21 and a 1 year high of $84.38. The firm’s 50-day moving average is $48.78 and its 200-day moving average is $59.78. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $13.45 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a net margin of 9.48% and a return on equity of 18.90%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the company earned $0.39 earnings per share. Equities analysts expect that Alcoa will post 6.55 EPS for the current year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. Alcoa’s dividend payout ratio is 8.23%.

Hedge Funds Weigh In On Alcoa

Several institutional investors and hedge funds have recently modified their holdings of AA. BlackRock Inc. acquired a new stake in Alcoa during the 2nd quarter worth approximately $1,528,523,000. California State Teachers Retirement System boosted its holdings in shares of Alcoa by 5,246.0% in the second quarter. California State Teachers Retirement System now owns 15,966,936 shares of the industrial products company’s stock valued at $832,516,000 after buying an additional 15,668,264 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Alcoa by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,580,803 shares of the industrial products company’s stock valued at $615,428,000 after buying an additional 462,243 shares during the period. State Street Corp increased its position in shares of Alcoa by 6.7% during the third quarter. State Street Corp now owns 11,458,529 shares of the industrial products company’s stock worth $376,871,000 after acquiring an additional 721,063 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Alcoa by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 6,655,655 shares of the industrial products company’s stock worth $389,621,000 after acquiring an additional 349,426 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AA. Royal Bank Of Canada set a $70.00 price objective on Alcoa in a research note on Wednesday, July 1st. Morgan Stanley restated an “equal weight” rating and set a $53.00 target price (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. Wells Fargo & Company lowered their price target on Alcoa from $72.00 to $71.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. JPMorgan Chase & Co. reduced their price objective on shares of Alcoa from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. Finally, Bank of America lowered their target price on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a research note on Thursday, July 9th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $61.09.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.