Alcoa Corp (NYSE:AA) was the target of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 7,094,223 shares, a decline of 50.4% from the January 12th total of 14,308,061 shares. Based on an average daily volume of 5,689,869 shares, the short-interest ratio is currently 1.2 days. Approximately 3.8% of the shares of the company are sold short.

In other news, COO Tomas Mar Sigurdsson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $51.37, for a total value of $513,700.00. Following the transaction, the chief operating officer now directly owns 46,832 shares in the company, valued at $2,405,759.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William F. Oplinger sold 229,475 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $52.86, for a total value of $12,130,048.50. Following the completion of the transaction, the vice president now owns 108,915 shares in the company, valued at $5,757,246.90. The disclosure for this sale can be found here.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ellington Management Group LLC bought a new stake in Alcoa during the fourth quarter worth approximately $447,000. Guggenheim Capital LLC increased its stake in Alcoa by 27.7% during the fourth quarter. Guggenheim Capital LLC now owns 171,366 shares of the industrial products company’s stock worth $9,232,000 after acquiring an additional 37,124 shares during the last quarter. Bronson Point Management LLC increased its stake in Alcoa by 25.0% during the fourth quarter. Bronson Point Management LLC now owns 500,000 shares of the industrial products company’s stock worth $26,935,000 after acquiring an additional 100,000 shares during the last quarter. Saybrook Capital NC bought a new stake in Alcoa during the fourth quarter worth approximately $226,000. Finally, Wolverine Asset Management LLC increased its stake in Alcoa by 60.8% during the fourth quarter. Wolverine Asset Management LLC now owns 40,200 shares of the industrial products company’s stock worth $2,165,000 after acquiring an additional 15,200 shares during the last quarter.

Several brokerages have recently commented on AA. JPMorgan Chase & Co. boosted their price objective on Alcoa from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, February 5th. ValuEngine upgraded Alcoa from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research downgraded Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 30th. Bank of America restated a “buy” rating and issued a $63.00 price objective (down from $67.00) on shares of Alcoa in a research report on Thursday, January 18th. Finally, Cowen restated a “market perform” rating and issued a $59.00 price objective (up from $51.00) on shares of Alcoa in a research report on Thursday, January 18th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $57.72.

Alcoa (NYSE:AA) traded up $1.24 during trading hours on Wednesday, hitting $48.54. The company had a trading volume of 2,427,324 shares, compared to its average volume of 4,494,161. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $8,970.00 and a P/E ratio of 41.80. Alcoa has a 12 month low of $29.55 and a 12 month high of $57.50.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, January 17th. The industrial products company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.19). The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Alcoa had a return on equity of 6.90% and a net margin of 1.86%. Alcoa’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 earnings per share. equities research analysts predict that Alcoa will post 3.69 earnings per share for the current year.

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About Alcoa

Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.

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