Alcoa (NYSE:AA) Issues Quarterly Earnings Results

Alcoa (NYSE:AA) posted its earnings results on Wednesday. The industrial products company reported ($0.81) earnings per share 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 analysts’ expectations of $2.55 billion. During the same period in the previous year, the firm earned ($0.23) EPS. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year.

Alcoa Stock Down 0.2 %

Shares of NYSE:AA 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 company has a 50-day moving average price of $30.97 and a 200-day moving average price of $29.02. Alcoa has a 12 month low of $23.07 and a 12 month high of $42.23.

Alcoa Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AA shares. Morgan Stanley raised their price objective on shares of Alcoa from $27.00 to $29.50 and gave the company an “underweight” rating in a research report on Thursday, January 18th. JPMorgan Chase & Co. boosted their price target on shares of Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Bank of America increased their price objective on Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. UBS Group lifted their price objective on Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a research note on Friday. Finally, B. Riley upped their target price on Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Alcoa presently has a consensus rating of “Hold” and a consensus price target of $32.96.

Insider Buying and Selling

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the company’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. purchased a new position in shares of Alcoa during the first quarter valued at about $29,000. Neo Ivy Capital Management bought a new stake in Alcoa during the 2nd quarter valued at approximately $27,000. Resurgent Financial Advisors LLC purchased a new position in shares of Alcoa during the 4th quarter worth approximately $32,000. ICA Group Wealth Management LLC bought a new position in shares of Alcoa in the 4th quarter worth approximately $36,000. Finally, FinTrust Capital Advisors LLC lifted its stake in shares of Alcoa by 55.3% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,123 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 400 shares during the period.

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.