Insider Selling: Alcoa (NYSE:AA) EVP Sells $35,714.00 in Stock

Alcoa (NYSE:AAGet Free Report) EVP Renato Bacchi sold 700 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $51.02, for a total value of $35,714.00. Following the completion of the sale, the executive vice president directly owned 74,930 shares of the company’s stock, valued at approximately $3,822,928.60. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Alcoa Stock Up 0.1%

AA stock opened at $51.09 on Friday. The firm has a market capitalization of $13.48 billion, a PE ratio of 10.51, a P/E/G ratio of 0.58 and a beta of 1.63. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. Alcoa has a twelve month low of $30.58 and a twelve month high of $84.38. The stock’s 50 day moving average is $48.72 and its 200-day moving average is $59.65.

Alcoa (NYSE:AAGet Free Report) last announced its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 18.90% and a net margin of 9.48%.During the same quarter last year, the company posted $0.39 EPS. Sell-side analysts expect that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were issued a dividend of $0.10 per share. 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 payout ratio is currently 8.23%.

Institutional Investors Weigh In On Alcoa

A number of hedge funds have recently made changes to their positions in AA. BlackRock Inc. bought a new position in Alcoa during the second quarter valued at about $1,528,523,000. California State Teachers Retirement System raised its position in Alcoa by 5,246.0% in the second quarter. California State Teachers Retirement System now owns 15,966,936 shares of the industrial products company’s stock worth $832,516,000 after acquiring an additional 15,668,264 shares during the period. Dimensional Fund Advisors LP raised its position in Alcoa by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,580,803 shares of the industrial products company’s stock worth $615,428,000 after acquiring an additional 462,243 shares during the period. State Street Corp boosted its stake in Alcoa by 6.7% in the third quarter. State Street Corp now owns 11,458,529 shares of the industrial products company’s stock valued at $376,871,000 after acquiring an additional 721,063 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Alcoa by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 6,655,655 shares of the industrial products company’s stock valued at $389,621,000 after acquiring an additional 349,426 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AA shares. UBS Group lowered their target price on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Morgan Stanley restated an “equal weight” rating and set a $53.00 price target (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. BMO Capital Markets reduced their price objective on shares of Alcoa from $60.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, July 17th. Royal Bank Of Canada set a $70.00 price objective on shares of Alcoa in a research note on Wednesday, July 1st. Finally, Zacks Research cut shares of Alcoa from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alcoa currently has a consensus rating of “Hold” and a consensus price target of $61.09.

View Our Latest Analysis on AA

About Alcoa

(Get Free Report)

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.

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