Insider Selling: Alcoa Co. (NYSE:AA) EVP Sells 23,867 Shares of Stock

Alcoa Co. (NYSE:AA) EVP Renato Bacchi sold 23,867 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the transaction, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alcoa Trading Down 0.3 %

Shares of NYSE:AA opened at $41.89 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. The company’s 50-day moving average price is $35.59 and its two-hundred day moving average price is $36.91. The stock has a market capitalization of $7.52 billion, a PE ratio of -11.14 and a beta of 2.42. Alcoa Co. has a one year low of $23.14 and a one year high of $45.48.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. Alcoa’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.14) EPS. On average, equities analysts forecast that Alcoa Co. will post 0.29 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.95%. Alcoa’s payout ratio is -10.64%.

Institutional Investors Weigh In On Alcoa

A number of institutional investors and hedge funds have recently modified their holdings of AA. Dimensional Fund Advisors LP grew its stake in Alcoa by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock valued at $265,132,000 after buying an additional 390,930 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in Alcoa in the 2nd quarter valued at about $93,061,000. L1 Capital Pty Ltd acquired a new position in Alcoa in the 1st quarter valued at about $72,658,000. Capital Research Global Investors grew its stake in Alcoa by 29.8% in the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock valued at $69,869,000 after buying an additional 475,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Alcoa by 43.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company’s stock valued at $49,958,000 after buying an additional 444,393 shares during the last quarter. 82.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AA shares. B. Riley Financial reissued a “neutral” rating and issued a $41.00 price target on shares of Alcoa in a report on Tuesday, September 17th. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research report on Wednesday, September 4th. Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $43.00 to $52.00 in a research report on Tuesday, October 1st. UBS Group boosted their price objective on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.75.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.