Alcoa (NYSE:AA) Sees Unusually-High Trading Volume

Alcoa Co. (NYSE:AA) saw an uptick in trading volume on Monday . 2,076,836 shares traded hands during mid-day trading, a decline of 65% from the previous session’s volume of 5,974,672 shares.The stock last traded at $34.91 and had previously closed at $32.52.

Analysts Set New Price Targets

Several research firms have weighed in on AA. Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research note on Wednesday, September 4th. UBS Group upgraded Alcoa from a “sell” rating to a “buy” rating and upped their target price for the company from $32.00 to $38.00 in a research report on Monday, August 12th. Citigroup raised their price target on shares of Alcoa from $32.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Bank of America decreased their price objective on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, July 18th. Finally, B. Riley increased their price objective on shares of Alcoa from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $39.09.

Alcoa Trading Up 7.5 %

The company has a market cap of $6.28 billion, a price-to-earnings ratio of -9.31 and a beta of 2.42. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $33.05 and its two-hundred day simple moving average is $35.53.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the company posted ($0.35) EPS. Alcoa’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts predict that Alcoa Co. will post 0.7 EPS for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa’s payout ratio is currently -10.64%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AA. Dimensional Fund Advisors LP grew its holdings in Alcoa by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock worth $265,132,000 after acquiring an additional 390,930 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Alcoa during the second quarter valued at $93,061,000. L1 Capital Pty Ltd bought a new position in shares of Alcoa during the first quarter worth about $72,658,000. Capital Research Global Investors increased its holdings in shares of Alcoa by 29.8% in the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock worth $69,869,000 after acquiring an additional 475,000 shares during the period. Finally, ARGA Investment Management LP lifted its position in Alcoa by 202.2% in the 1st quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock valued at $50,399,000 after purchasing an additional 997,912 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

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.