Alcoa (NYSE:AA) EVP Sells 700 Shares of Stock

Key Points

• Alcoa EVP Renato Bacchi sold 700 shares at an average price of $51.02, generating $35,714. After the transaction, he retained 74,930 shares.
• Alcoa shares traded around $50.95, with a $13.45 billion market capitalization and a 52-week range of $30.21 to $84.38. The company recently reported quarterly revenue of $3.97 billion and earnings per share of $2.12, below analyst expectations.
• Analysts have a consensus “Hold” rating and an average price target of $61.09, while Alcoa’s quarterly dividend is $0.10 per share, representing a 0.8% yield.

Alcoa (NYSE:AA - Get Free Report) EVP Renato Bacchi sold 700 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $51.02, for a total value of $35,714.00. Following the completion of the transaction, the executive vice president owned 74,930 shares of the company's stock, valued at $3,822,928.60. The trade was a 0.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Alcoa Price Performance

Alcoa stock traded up $1.00 during midday trading on Tuesday, reaching $50.95. The company's stock had a trading volume of 4,197,404 shares, compared to its average volume of 6,170,392. The firm has a market capitalization of $13.45 billion, a PE ratio of 10.48, a P/E/G ratio of 0.57 and a beta of 1.63. Alcoa has a fifty-two week low of $30.21 and a fifty-two week high of $84.38. The stock's 50 day simple moving average is $48.86 and its 200 day simple moving average is $59.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53.

Alcoa (NYSE:AA - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same period last year, the company earned $0.39 earnings per share. On average, equities research analysts forecast that Alcoa will post 6.55 earnings per share for the current year.

Alcoa Dividend Announcement

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

Analysts Set New Price Targets

AA has been the subject of a number of research reports. Royal Bank Of Canada set a $70.00 price target on shares of Alcoa in a research report on Wednesday, July 1st. Wells Fargo & Company lowered their price target on Alcoa from $72.00 to $71.00 and set an "overweight" rating on the stock in a report on Friday, July 17th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $53.00 price objective (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th. Bank of America decreased their target price on Alcoa from $57.00 to $51.00 and set an "underperform" rating on the stock in a research report on Thursday, July 9th. Finally, Argus dropped their price target on Alcoa from $73.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $61.09.

Institutional Inflows and Outflows

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

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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