Alcoa Inc. (AA) Upgraded to Sell at Vetr Inc.
AA has been the topic of several other reports. Gabelli began coverage on shares of Alcoa in a report on Tuesday, November 1st. They issued a buy rating on the stock. Morgan Stanley reiterated a buy rating and issued a $12.00 target price on shares of Alcoa in a research note on Tuesday, August 16th. Bank of America Corp. cut shares of Alcoa from a buy rating to a neutral rating in a research note on Tuesday, October 11th. Zacks Investment Research cut shares of Alcoa from a buy rating to a hold rating in a research note on Thursday, October 13th. Finally, Citigroup Inc. began coverage on shares of Alcoa in a research note on Monday, November 7th. They issued a buy rating and a $30.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $19.93.
Alcoa (NYSE:AA) traded up 2.6781% during trading on Monday, reaching $31.5119. 950,825 shares of the company traded hands. The company’s market capitalization is $13.82 billion. The firm has a 50-day moving average price of $25.35 and a 200-day moving average price of $25.35. Alcoa has a 52 week low of $20.00 and a 52 week high of $32.02.
Alcoa (NYSE:AA) last released its quarterly earnings data on Tuesday, October 11th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.11 by $0.21. The business had revenue of $5.21 billion for the quarter. Alcoa had a negative net margin of 0.88% and a positive return on equity of 3.87%. The firm’s revenue was down 6.5% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. Analysts forecast that Alcoa will post ($0.66) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 4th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Wednesday, November 2nd. Alcoa’s payout ratio is -63.15%.
Several institutional investors have recently made changes to their positions in the stock. Retirement Systems of Alabama raised its position in shares of 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 during the last quarter. South Texas Money Management Ltd. raised its position in shares of Alcoa by 16.4% in the second quarter. South Texas Money Management Ltd. now owns 2,138,691 shares of the company’s stock worth $19,826,000 after buying an additional 300,567 shares during the last quarter. New Jersey Better Educational Savings Trust raised its position in shares of Alcoa by 11.1% in the second quarter. New Jersey Better Educational Savings Trust now owns 60,000 shares of the company’s stock worth $556,000 after buying an additional 6,000 shares during the last quarter. IFC Holdings Incorporated FL raised its position in shares of Alcoa by 29.6% in the second quarter. IFC Holdings Incorporated FL now owns 17,360 shares of the company’s stock worth $169,000 after buying an additional 3,961 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Alcoa during the second quarter worth about $180,000.
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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