Alcoa Inc. (AA) Director Ratan Tata Buys 845 Shares of Stock
Alcoa Inc. (NYSE:AA) Director Ratan Tata acquired 845 shares of the business’s stock in a transaction on Thursday, October 13th. The stock was acquired at an average price of $26.75 per share, with a total value of $22,603.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Alcoa Inc. (NYSE:AA) opened at 26.44 on Monday. The stock’s market capitalization is $11.59 billion. Alcoa Inc. has a one year low of $18.42 and a one year high of $34.50. The company’s 50 day moving average price is $29.51 and its 200 day moving average price is $29.79.
Alcoa (NYSE:AA) last announced its earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.21. The company had revenue of $5.21 billion for the quarter. Alcoa had a positive return on equity of 3.87% and a negative net margin of 0.88%. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period last year, the firm earned $0.07 earnings per share. On average, equities analysts expect that Alcoa Inc. will post $0.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 4th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Wednesday, November 2nd. Alcoa’s dividend payout ratio (DPR) is presently -63.15%.
A number of research analysts have recently weighed in on AA shares. Zacks Investment Research upgraded Alcoa from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Tuesday, October 4th. Morgan Stanley restated a “buy” rating and issued a $12.00 price target on shares of Alcoa in a research report on Tuesday, August 16th. Credit Suisse Group AG restated a “buy” rating on shares of Alcoa in a research report on Tuesday, July 12th. Berenberg Bank restated a “hold” rating and issued a $9.00 price target on shares of Alcoa in a research report on Thursday, June 30th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $15.00 price target on shares of Alcoa in a research report on Friday, July 15th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $17.74.
Several large investors have recently made changes to their positions in AA. Cupps Capital Management LLC bought a new stake in shares of Alcoa during the first quarter worth about $109,000. Citizens Financial Group Inc RI raised its position in Alcoa by 14.1% in the first quarter. Citizens Financial Group Inc RI now owns 11,349 shares of the company’s stock valued at $109,000 after buying an additional 1,401 shares during the last quarter. AXA acquired a new position in Alcoa during the first quarter valued at $115,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Alcoa during the second quarter valued at $121,000. Finally, Savant Capital LLC raised its position in Alcoa by 21.9% in the second quarter. Savant Capital LLC now owns 13,125 shares of the company’s stock valued at $122,000 after buying an additional 2,360 shares during the last quarter.
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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