Bank of America Corp. lowered shares of Alcoa Inc. (NYSE:AA) from a buy rating to a neutral rating in a research note released on Tuesday morning.

Other analysts also recently issued research reports about the stock. Goldman Sachs Group Inc. set a $30.00 price objective on shares of Alcoa and gave the company a hold rating in a research report on Monday. Credit Suisse Group AG set a $39.00 price objective on shares of Alcoa and gave the company a buy rating in a research report on Saturday. Rosenblatt Securities reaffirmed a buy rating and issued a $15.00 price objective on shares of Alcoa in a research report on Friday, July 15th. Argus reaffirmed a hold rating on shares of Alcoa in a research report on Friday, July 15th. Finally, Cowen and Company reaffirmed a hold rating on shares of Alcoa in a research report on Tuesday, July 12th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Alcoa currently has a consensus rating of Buy and a consensus target price of $16.15.

Analyst Recommendations for Alcoa (NYSE:AA)

Shares of Alcoa (NYSE:AA) traded down 2.9291% during midday trading on Tuesday, hitting $27.0925. 8,289,169 shares of the company’s stock were exchanged. Alcoa has a one year low of $18.42 and a one year high of $34.50. The firm’s market cap is $11.88 billion. The stock’s 50-day moving average price is $29.84 and its 200 day moving average price is $29.85.

Alcoa (NYSE:AA) last posted its earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.21. The firm earned $5.21 billion during the quarter. Alcoa had a negative net margin of 1.45% and a positive return on equity of 3.44%. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period last year, the company posted $0.07 EPS. Equities research analysts forecast that Alcoa will post $0.44 EPS for the current year.

The business also recently announced 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. The ex-dividend date is Wednesday, November 2nd. This represents a $0.12 annualized dividend and a yield of 0.43%. Alcoa’s dividend payout ratio (DPR) is currently -42.85%.

In other Alcoa news, Director Ulrich Schmidt purchased 5,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were bought at an average cost of $10.40 per share, with a total value of $52,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $104,000. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc increased its position in shares of Alcoa by 3.6% in the first quarter. Legal & General Group Plc now owns 5,817,728 shares of the company’s stock valued at $55,747,000 after buying an additional 200,712 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Alcoa by 41.6% in the second quarter. Retirement Systems of Alabama now owns 1,555,399 shares of the company’s stock worth $14,419,000 after buying an additional 457,196 shares in the last quarter. Orbis Allan Gray Ltd purchased a new stake in Alcoa during the first quarter worth about $374,584,000. Geode Capital Management LLC boosted its stake in Alcoa by 2.3% in the first quarter. Geode Capital Management LLC now owns 10,720,212 shares of the company’s stock worth $102,493,000 after buying an additional 240,383 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Alcoa during the second quarter worth about $180,000.

About Alcoa

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.

5 Day Chart for NYSE:AA

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