Alcoa Inc. Plans Quarterly Dividend of $0.03 (AA)
Alcoa Inc. (NYSE:AA) declared a quarterly dividend on Friday, September 30th. Shareholders of record on Friday, November 4th will be paid a dividend of 0.03 per share on Friday, November 25th. This represents a $0.12 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, November 2nd.
Alcoa (NYSE:AA) opened at 10.14 on Monday. The firm’s market capitalization is $13.34 billion. The firm has a 50-day moving average of $9.97 and a 200 day moving average of $9.92. Alcoa has a 52 week low of $6.14 and a 52 week high of $11.50.
Alcoa (NYSE:AA) last announced its quarterly earnings data on Monday, July 11th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.06. Alcoa had a positive return on equity of 3.44% and a negative net margin of 1.45%. The firm had revenue of $5.30 billion for the quarter. During the same quarter last year, the business earned $0.19 earnings per share. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. Analysts predict that Alcoa will post $0.44 earnings per share for the current year.
In related news, Director Ulrich Schmidt purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The stock was acquired at an average price of $10.40 per share, for a total transaction of $52,000.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $104,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Institutional investors have recently added to or reduced their stakes in the stock. 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 stake in shares of 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 last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of 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 last quarter. Ameritas Investment Partners Inc. raised its stake in shares of 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 last quarter. Finally, BlackRock Japan Co. Ltd raised its stake in shares of 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 last quarter.
Several equities analysts recently issued reports on the company. Argus restated a “hold” rating on shares of Alcoa in a research note on Friday, July 15th. Morgan Stanley restated a “buy” rating and set a $12.00 price objective on shares of Alcoa in a research note on Tuesday, August 16th. Bank of America Corp. restated a “buy” rating on shares of Alcoa in a research note on Friday, June 17th. Seaport Global Securities assumed coverage on Alcoa in a research note on Friday, September 9th. They set a “neutral” rating and a $11.00 price objective on the stock. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Alcoa in a research note on Tuesday, July 12th. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $11.11.
Alcoa Company Profile
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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