Alcoa (NYSE:AA) Shares Gap Up to $36.23

Alcoa Co. (NYSE:AA) gapped up before the market opened on Friday . The stock had previously closed at $36.23, but opened at $37.47. Alcoa shares last traded at $37.05, with a volume of 965,211 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Morgan Stanley boosted their price target 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. UBS Group assumed coverage on shares of Alcoa in a research report on Tuesday, January 16th. They set a “sell” rating and a $29.00 price target on the stock. BMO Capital Markets reduced their price target on shares of Alcoa from $30.00 to $29.00 and set a “market perform” rating on the stock in a research report on Thursday, January 18th. Finally, Bank of America boosted their price target on shares of Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. Three 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.88.

Alcoa Price Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.45 and a quick ratio of 0.74. The stock’s 50 day moving average price is $30.17 and its 200-day moving average price is $28.72.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, January 17th. The industrial products company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.29. Alcoa had a negative net margin of 6.17% and a negative return on equity of 6.56%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same quarter in the prior year, the business earned ($0.70) earnings per share. Alcoa’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, research analysts predict that Alcoa Co. will post 0.31 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were given a dividend of $0.10 per share. The ex-dividend date was Monday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.11%. Alcoa’s dividend payout ratio (DPR) is currently -10.96%.

Insider Buying and Selling at Alcoa

In other news, EVP Tammi A. Jones sold 26,468 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total value of $814,685.04. Following the sale, the executive vice president now directly owns 41,166 shares in the company, valued at approximately $1,267,089.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Alcoa

Institutional investors have recently bought and sold shares of the stock. Fairfield Bush & CO. acquired a new stake in Alcoa during the 1st quarter valued at approximately $29,000. Neo Ivy Capital Management acquired a new position in Alcoa during the second quarter worth $27,000. Resurgent Financial Advisors LLC acquired a new position in Alcoa during the fourth quarter worth $32,000. ICA Group Wealth Management LLC acquired a new position in Alcoa during the fourth quarter worth $36,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in Alcoa during the fourth quarter worth $31,000.

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.