Alcoa (NYSE:AA) Shares Gap Down to $36.57

Alcoa Co. (NYSE:AA - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $36.57, but opened at $35.15. Alcoa shares last traded at $35.40, with a volume of 936,220 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Alcoa in a research report on Tuesday, January 16th. They issued a "sell" rating and a $29.00 target price on the stock. Bank of America lifted their target price on shares of Alcoa from $31.00 to $32.00 and gave the company a "neutral" rating in a research report on Monday, March 18th. BMO Capital Markets decreased their price target on shares of Alcoa from $30.00 to $29.00 and set a "market perform" rating on the stock in a research note on Thursday, January 18th. StockNews.com raised shares of Alcoa from a "sell" rating to a "hold" rating in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alcoa from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $30.88.

Alcoa Stock Down 1.3 %

The company has a quick ratio of 0.74, a current ratio of 1.45 and a debt-to-equity ratio of 0.30. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of -9.88, a PEG ratio of 2.39 and a beta of 2.47. The business's fifty day moving average is $30.65 and its two-hundred day moving average is $28.93.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Wednesday, January 17th. The industrial products company reported ($0.56) earnings per share for the quarter, beating analysts' consensus estimates of ($0.85) by $0.29. Alcoa had a negative net margin of 6.17% and a negative return on equity of 6.56%. The firm had revenue of $2.60 billion during the quarter, compared to analysts' expectations of $2.59 billion. During the same quarter in the previous year, the business posted ($0.70) earnings per share. The business's quarterly revenue was down 2.6% compared to the same quarter last year. Equities analysts forecast that Alcoa Co. will post 0.31 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.11%. The ex-dividend date was Monday, March 4th. Alcoa's dividend payout ratio (DPR) is presently -10.96%.

Insiders Place Their Bets

In other news, EVP Tammi A. Jones sold 26,468 shares of the company's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the transaction, the executive vice president now owns 41,166 shares in the company, valued at approximately $1,267,089.48. The sale was disclosed in a document filed with the SEC, which is available at this link.

Institutional Trading of Alcoa

Several institutional investors and hedge funds have recently bought and sold shares of the business. Moors & Cabot Inc. raised its position in Alcoa by 2.2% in the 1st quarter. Moors & Cabot Inc. now owns 8,748 shares of the industrial products company's stock valued at $788,000 after purchasing an additional 185 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Alcoa by 0.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 48,391 shares of the industrial products company's stock worth $2,206,000 after buying an additional 284 shares during the last quarter. State of Wisconsin Investment Board raised its position in Alcoa by 0.4% during the 4th quarter. State of Wisconsin Investment Board now owns 90,102 shares of the industrial products company's stock worth $4,097,000 after buying an additional 317 shares during the last quarter. Fairfield Bush & CO. purchased a new position in Alcoa during the 1st quarter worth $29,000. Finally, Daiwa Securities Group Inc. raised its position in Alcoa by 1.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 26,485 shares of the industrial products company's stock worth $900,000 after buying an additional 338 shares during the last quarter.

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.