Alcoa (NYSE:AA) EVP Sells 15,628 Shares of Stock

Key Points

• Alcoa EVP Tammi Jones sold 15,628 shares at an average price of $50.60, generating approximately $790,777. Following the transaction, her ownership fell 28.19% to 39,819 shares.
• Alcoa shares declined 1.6% to $50.35, while the company’s latest quarterly results missed analyst expectations, reporting $2.12 in EPS versus the $2.25 consensus and revenue of $3.97 billion versus $3.99 billion expected.
• Analysts maintain a consensus “Hold” rating with an average price target of $61.09. Alcoa also paid a quarterly dividend of $0.10 per share, equivalent to a 0.8% annualized yield.

Alcoa (NYSE:AA - Get Free Report) EVP Tammi Jones sold 15,628 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $50.60, for a total value of $790,776.80. Following the completion of the transaction, the executive vice president owned 39,819 shares of the company's stock, valued at $2,014,841.40. This represents a 28.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Alcoa Stock Down 1.6%

NYSE AA traded down $0.84 during trading hours on Friday, reaching $50.35. 2,413,011 shares of the company's stock were exchanged, compared to its average volume of 6,199,719. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. The company has a market capitalization of $13.29 billion, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63. The company's 50-day moving average is $49.21 and its two-hundred day moving average is $60.03. Alcoa has a one year low of $30.21 and a one year high of $84.38.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.13). The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same period in the previous year, the firm posted $0.39 EPS. On average, analysts forecast that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, August 11th. Alcoa's payout ratio is currently 8.23%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Basepoint Wealth LLC bought a new stake in shares of Alcoa during the 4th quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Alcoa in the second quarter valued at $25,000. Advisory Services Network LLC acquired a new position in Alcoa during the third quarter worth $27,000. Caitong International Asset Management Co. Ltd increased its holdings in Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company's stock worth $31,000 after buying an additional 581 shares during the last quarter. Finally, Western Wealth Management LLC bought a new stake in Alcoa during the first quarter worth $35,000. 82.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AA has been the subject of a number of research reports. Morgan Stanley reiterated an "equal weight" rating and set a $53.00 target price (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. JPMorgan Chase & Co. cut their price target on Alcoa from $55.00 to $52.00 and set a "neutral" rating on the stock in a report on Friday, July 17th. Weiss Ratings raised Alcoa from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, June 17th. Wall Street Zen upgraded Alcoa from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Finally, Bank of America decreased their price objective on Alcoa from $57.00 to $51.00 and set an "underperform" rating for the company in a report on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $61.09.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company's operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa's product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.

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