Alcoa (NYSE:AA) Announces Quarterly Earnings Results

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

Alcoa Stock Down 0.2 %

Shares of Alcoa stock opened at $35.48 on Friday. Alcoa has a 1 year low of $23.07 and a 1 year high of $42.23. The stock has a fifty day moving average price of $30.97 and a 200-day moving average price of $29.02. The company has a quick ratio of 0.74, a current ratio of 1.45 and a debt-to-equity ratio of 0.30.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 5th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, March 4th. Alcoa’s dividend payout ratio is presently -10.64%.

Insider Activity

In other news, EVP Tammi A. Jones sold 26,468 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the completion of the sale, the executive vice president now directly owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional Investors Weigh In On Alcoa

Large investors have recently made changes to their positions in the business. Fairfield Bush & CO. purchased a new stake in shares of Alcoa during the 1st quarter valued at $29,000. Neo Ivy Capital Management bought a new position in Alcoa in the 2nd quarter worth about $27,000. Resurgent Financial Advisors LLC bought a new stake in shares of Alcoa during the 4th quarter valued at about $32,000. ICA Group Wealth Management LLC bought a new stake in shares of Alcoa during the 4th quarter valued at about $36,000. Finally, FinTrust Capital Advisors LLC boosted its position in shares of Alcoa by 55.3% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,123 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 400 shares during the last quarter.

Analysts Set New Price Targets

AA has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Morgan Stanley boosted their target price on Alcoa from $27.00 to $29.50 and gave the stock an “underweight” rating in a research note on Thursday, January 18th. Bank of America boosted their target price on Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. B. Riley upped their price objective on Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Jefferies Financial Group upped their price objective on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Alcoa presently has a consensus rating of “Hold” and an average target price of $32.96.

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.