Alcoa (NYSE:AA) Issues Earnings Results

Alcoa (NYSE:AA) posted its quarterly earnings data on Wednesday. The industrial products company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19), Briefing.com reports. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.30%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the company earned ($0.23) earnings per share. The company’s revenue was down 2.7% compared to the same quarter last year.

Alcoa Trading Down 0.2 %

AA stock opened at $35.48 on Friday. 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 firm’s 50-day simple moving average is $30.97 and its 200 day simple moving average is $29.02. Alcoa has a fifty-two week low of $23.07 and a fifty-two week high of $42.23.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.13%. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total transaction of $814,685.04. Following the transaction, the executive vice president now owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Alcoa

Large investors have recently bought and sold shares of the stock. Neo Ivy Capital Management acquired a new position in Alcoa during the 2nd quarter valued at about $27,000. Fairfield Bush & CO. acquired a new position in Alcoa during the 1st quarter valued at about $29,000. Resurgent Financial Advisors LLC acquired a new position in Alcoa during the 4th quarter valued at about $32,000. ICA Group Wealth Management LLC acquired a new position in Alcoa during the 4th quarter valued at about $36,000. Finally, UniSuper Management Pty Ltd acquired a new position in Alcoa during the 2nd quarter valued at about $44,000.

Analyst Ratings Changes

AA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Bank of America increased their target price on shares of Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. B. Riley increased their target price on shares of Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley increased their target price on shares of Alcoa from $27.00 to $29.50 and gave the stock an “underweight” rating in a report on Thursday, January 18th. Finally, BMO Capital Markets increased their target price on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday. Three 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 MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.96.

Alcoa Company Profile

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.