Insider Buying: Alcoa Director Buys 2,600 Shares of Stock (AA)
Alcoa (NYSE:AA) Director Ratan Tata purchased 2,600 shares of the company’s stock on the open market in a transaction dated Thursday, October 10th. The stock was purchased at an average price of $8.39 per share, for a total transaction of $21,814.00. Following the completion of the acquisition, the director now directly owns 41,379 shares of the company’s stock, valued at approximately $347,170. The purchase was disclosed in a filing with the SEC, which is available at this link.
Alcoa (NYSE:AA) traded up 0.32% on Friday, hitting $8.377. 11,072,551 shares of the company’s stock traded hands. Alcoa has a one year low of $7.63 and a one year high of $9.37. The stock’s 50-day moving average is $8.08 and its 200-day moving average is $8.18. The company has a market cap of $8.960 billion and a P/E ratio of 70.17. Alcoa also saw some unusual options trading on Tuesday. Investors bought 33,266 call options on the company. This represents an increase of 211% compared to the typical volume of 10,689 call options.
Alcoa (NYSE:AA) last announced its earnings results on Tuesday, October 8th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.05. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company’s quarterly revenue was down 1.2% on a year-over-year basis. On average, analysts predict that Alcoa will post $0.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Wednesday, November 6th.
A number of analysts have recently weighed in on AA shares. Analysts at Zacks reiterated a “neutral” rating on shares of Alcoa in a research note to investors on Thursday. They now have a $8.50 price target on the stock. Separately, analysts at Barclays Capital upgraded shares of Alcoa from an “underweight” rating to a “market weight” rating in a research note to investors on Wednesday. Finally, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Alcoa in a research note to investors on Tuesday. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $8.42.
Alcoa Inc (NYSE:AA) is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined, through its participation in technology, mining, refining, smelting, fabricating, and recycling.
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