Renato Bacchi Sells 700 Shares of Alcoa (NYSE:AA) Stock

Alcoa (NYSE:AA) EVP Renato Bacchi sold 700 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $51.02, for a total transaction of $35,714.00. Following the sale, the executive vice president owned 74,930 shares of the company’s stock, valued at $3,822,928.60. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Alcoa Stock Performance

Shares of AA stock opened at $51.06 on Thursday. 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 firm has a market cap of $13.47 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 0.58 and a beta of 1.63. Alcoa has a 52 week low of $30.28 and a 52 week high of $84.38. The firm’s 50-day simple moving average is $48.76 and its two-hundred day simple moving average is $59.71.

Alcoa (NYSE:AA) last released its 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 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 prior year, the company earned $0.39 earnings per share. As a group, equities analysts forecast that Alcoa will post 6.55 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, August 11th. Alcoa’s dividend payout ratio (DPR) is currently 8.23%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. BMO Capital Markets dropped their price target on Alcoa from $60.00 to $55.00 and set a “market perform” rating on the stock in a research report on Friday, July 17th. Bank of America dropped their price objective on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a report on Thursday, July 9th. Wells Fargo & Company cut their target price on shares of Alcoa from $72.00 to $71.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Weiss Ratings raised shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Finally, Morgan Stanley restated an “equal weight” rating and set a $53.00 price target (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.09.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Alcoa during the second quarter valued at approximately $1,528,523,000. California State Teachers Retirement System lifted its stake in Alcoa by 5,246.0% in the 2nd quarter. California State Teachers Retirement System now owns 15,966,936 shares of the industrial products company’s stock worth $832,516,000 after purchasing an additional 15,668,264 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Alcoa by 211.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock valued at $332,338,000 after purchasing an additional 4,247,559 shares during the period. Castle Hook Partners LP bought a new position in Alcoa in the 4th quarter valued at $210,874,000. Finally, Maple Rock Capital Partners Inc. purchased a new position in shares of Alcoa during the 4th quarter valued at $173,412,000. Institutional investors own 82.39% of the company’s stock.

Alcoa Company Profile

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.