Alcoa Corp (NYSE:AA) COO Tomas Mar Sigurdsson sold 10,000 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $51.37, for a total value of $513,700.00. Following the sale, the chief operating officer now owns 46,832 shares of the company’s stock, valued at $2,405,759.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Alcoa Corp (NYSE:AA) traded down $0.63 on Monday, reaching $48.46. The company’s stock had a trading volume of 3,863,806 shares, compared to its average volume of 4,829,521. The company has a market cap of $9,200.00 and a price-to-earnings ratio of 41.78. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 0.90. Alcoa Corp has a fifty-two week low of $29.55 and a fifty-two week high of $57.50.
Alcoa (NYSE:AA) last released its quarterly 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). Alcoa had a net margin of 1.86% and a return on equity of 6.90%. The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the previous year, the company earned $0.14 EPS. The company’s revenue for the quarter was up 25.1% on a year-over-year basis. analysts anticipate that Alcoa Corp will post 3.64 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the company. Elliott Management Corp raised its position in shares of Alcoa by 14.7% in the 2nd quarter. Elliott Management Corp now owns 11,737,457 shares of the industrial products company’s stock worth $383,228,000 after acquiring an additional 1,500,000 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Alcoa by 13.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 418,466 shares of the industrial products company’s stock worth $13,663,000 after acquiring an additional 49,441 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Alcoa by 1.3% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 220,201 shares of the industrial products company’s stock worth $10,266,000 after acquiring an additional 2,790 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Alcoa by 14.5% in the 2nd quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock worth $484,895,000 after acquiring an additional 1,885,745 shares in the last quarter. Finally, Cipher Capital LP bought a new position in shares of Alcoa in the 3rd quarter worth approximately $646,000.
Several equities research analysts recently weighed in on the company. BMO Capital Markets restated a “buy” rating and set a $65.00 target price on shares of Alcoa in a report on Friday, December 22nd. ValuEngine upgraded Alcoa from a “hold” rating to a “buy” rating in a report on Friday. Macquarie restated a “buy” rating and set a $62.00 target price (up from $55.00) on shares of Alcoa in a report on Tuesday, October 10th. Cowen reaffirmed a “market perform” rating and set a $59.00 price target (up previously from $51.00) on shares of Alcoa in a research report on Thursday, January 18th. Finally, JPMorgan Chase & Co. upped their price target on Alcoa to $68.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $57.72.
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Alcoa Company Profile
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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