Alcoa (NYSE:AA) Shares Gap Down to $36.35

Alcoa Co. (NYSE:AA - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $36.35, but opened at $35.00. Alcoa shares last traded at $36.28, with a volume of 1,490,966 shares traded.

Wall Street Analysts Forecast Growth

AA has been the topic of several research analyst reports. StockNews.com cut shares of Alcoa from a "hold" rating to a "sell" rating in a report on Friday. BMO Capital Markets increased their target price on Alcoa from $35.00 to $37.00 and gave the company a "market perform" rating in a research note on Thursday, April 18th. Bank of America increased their target price on Alcoa from $31.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, March 18th. B. Riley increased their target price on Alcoa from $25.00 to $31.00 and gave the company a "neutral" rating in a research note on Thursday, April 18th. Finally, Jefferies Financial Group increased their target price on Alcoa from $45.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $33.54.

Alcoa Stock Down 0.8 %

The stock has a 50 day moving average price of $31.31 and a 200-day moving average price of $29.16. The stock has a market capitalization of $6.47 billion, a P/E ratio of -9.49, a PEG ratio of 4.28 and a beta of 2.47. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.93.

Alcoa (NYSE:AA - Get Free Report) last posted its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The firm's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.23) earnings per share. As a group, research analysts expect that Alcoa Co. will post 0.17 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.11%. Alcoa's payout ratio is presently -10.64%.

Insider Buying and Selling

In related news, EVP Tammi A. Jones sold 26,468 shares of the firm's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the sale, the executive vice president now directly owns 41,166 shares of the company's stock, valued at $1,267,089.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Alcoa

Large investors have recently bought and sold shares of the company. Tennessee Valley Asset Management Partners bought a new stake in shares of Alcoa in the 4th quarter worth approximately $31,000. Private Wealth Management Group LLC bought a new stake in shares of Alcoa in the 4th quarter worth approximately $33,000. Quent Capital LLC boosted its position in shares of Alcoa by 64.2% in the 4th quarter. Quent Capital LLC now owns 990 shares of the industrial products company's stock worth $34,000 after purchasing an additional 387 shares in the last quarter. Scarborough Advisors LLC bought a new stake in shares of Alcoa in the 4th quarter worth approximately $39,000. Finally, Quest Partners LLC bought a new stake in shares of Alcoa in the 4th quarter worth approximately $40,000.

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.