1 day Ago By ABMN Staff
Alcoa Co. ( NYSE:AA – Get Free Report ) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 11,370,000 shares, a drop of 12.
6% from the August 15th total of 13,010,000 shares. Based on an average daily volume of 5,710,000 shares, the short-interest ratio is currently 2.0 days.
Institutional Investors Weigh In On Alcoa Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in Alcoa by 6.2% in the 2nd quarter.
Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock worth $265,132,000 after buying an additional 390,930 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in Alcoa during the second quarter valued at about $93,061,000. L1 Capital Pty Ltd bought a new stake in Alcoa during the first quarter worth about $72,658,000.
Capital Research Global Investors boosted its holdings in shares of Alcoa by 29.8% in the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock worth $69,869,000 after purchasing an additional 475,000 shares in the last quarter.
Finally, ARGA Investment Management LP increased its position in shares of Alcoa by 202.2% during the 1st quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock valued at $50,399,000 after purchasing an additional 997,912 shares during the last quarter.
Institutional investors own 82.39% of the company’s stock. Alcoa Stock Performance Shares of NYSE AA traded up $0.
41 during midday trading on Wednesday, hitting $34.38. The company’s stock had a trading volume of 6,444,023 shares, compared to its average volume of 6,019,248.
The stock has a fifty day moving average price of $32.78 and a 200 day moving average price of $35.62.
The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of -9.22 and a beta of 2.
42. Alcoa has a one year low of $23.07 and a one year high of $45.
48. The company has a current ratio of 1.55, a quick ratio of 0.
92 and a debt-to-equity ratio of 0.46. Alcoa Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th.
Shareholders of record on Monday, August 12th were issued a $0.10 dividend. This represents a $0.
40 annualized dividend and a yield of 1.16%. The ex-dividend date was Monday, August 12th.
Alcoa’s payout ratio is -10.64%. Analysts Set New Price Targets Several equities analysts have recently issued reports on AA shares.
Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a report on Wednesday, September 4th. Bank of America decreased their target price on Alcoa from $46.
00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. Morgan Stanley cut their price target on shares of Alcoa from $50.
00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. UBS Group upgraded shares of Alcoa from a “sell” rating to a “buy” rating and raised their price objective for the stock from $32.
00 to $38.00 in a report on Monday, August 12th. Finally, B.
Riley Financial reiterated a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock.
Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.27. Read Our Latest Research Report on AA Alcoa Company Profile ( Get Free Report ) 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. Recommended Stories Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.
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