Alcoa (NYSE:AA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Alcoa (NYSE:AA) have been given a consensus rating of “Hold” by the twelve brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $61.0909.

A number of analysts recently issued reports on the company. Royal Bank Of Canada set a $70.00 price target on Alcoa in a research report on Wednesday, July 1st. Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Argus reduced their target price on shares of Alcoa from $73.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. dropped their price target on shares of Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. Finally, UBS Group cut their price target on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th.

Insider Buying and Selling

In other news, EVP Tammi Jones sold 15,628 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $50.60, for a total value of $790,776.80. Following the sale, the executive vice president directly owned 39,819 shares in the company, valued at approximately $2,014,841.40. This represents a 28.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Renato Bacchi sold 700 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $51.02, for a total value of $35,714.00. Following the sale, the executive vice president directly owned 74,930 shares of the company’s stock, valued at $3,822,928.60. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Institutional Trading of Alcoa

Institutional investors and hedge funds have recently made changes to their positions in the business. Basepoint Wealth LLC purchased a new position in Alcoa in the 4th quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Alcoa in the 2nd quarter valued at about $25,000. Western Wealth Management LLC bought a new position in Alcoa in the 1st quarter worth about $35,000. Caitong International Asset Management Co. Ltd grew its stake in Alcoa by 5,281.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 581 shares in the last quarter. Finally, Quarry LP increased its position in shares of Alcoa by 96.0% during the fourth quarter. Quarry LP now owns 694 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 340 shares during the period.

Alcoa Trading Up 0.0%

Shares of NYSE:AA opened at $49.98 on Tuesday. The stock has a 50 day moving average of $48.57 and a 200 day moving average of $59.53. The company has a market cap of $13.19 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. Alcoa has a 12-month low of $30.71 and a 12-month high of $84.38.

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

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, August 11th. Alcoa’s payout ratio is 8.23%.

About Alcoa

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.