Alcoa Co. (NYSE:AA) EVP Renato Bacchi Sells 23,867 Shares

Alcoa Co. (NYSE:AA) EVP Renato Bacchi sold 23,867 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total value of $1,009,335.43. Following the sale, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alcoa Price Performance

AA opened at $42.01 on Friday. Alcoa Co. has a 1 year low of $23.14 and a 1 year high of $45.48. The stock has a fifty day moving average price of $35.79 and a 200 day moving average price of $36.94. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of -11.17 and a beta of 2.42.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.34. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period last year, the company earned ($1.14) earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. Analysts forecast that Alcoa Co. will post 0.29 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 0.95%. Alcoa’s dividend payout ratio (DPR) is currently -10.64%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America raised Alcoa from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $43.00 to $52.00 in a research note on Tuesday, October 1st. BMO Capital Markets raised their target price on Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research report on Wednesday, September 4th. UBS Group raised their target price on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.75.

Hedge Funds Weigh In On Alcoa

Several institutional investors have recently bought and sold shares of AA. Los Angeles Capital Management LLC bought a new position in Alcoa during the first quarter valued at about $210,000. Ballentine Partners LLC bought a new position in shares of Alcoa in the first quarter worth about $252,000. Diversified Trust Co increased its stake in shares of Alcoa by 5.7% in the first quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 416 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Alcoa by 15.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,344 shares of the industrial products company’s stock worth $485,000 after purchasing an additional 1,867 shares during the period. Finally, State of Michigan Retirement System increased its stake in shares of Alcoa by 2.6% in the first quarter. State of Michigan Retirement System now owns 43,875 shares of the industrial products company’s stock worth $1,483,000 after purchasing an additional 1,100 shares during the period. 82.39% of the stock is currently owned by institutional investors.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.