Alcoa (NYSE:AA) Shares Gap Down – Time to Sell?

Alcoa Co. (NYSE:AA) shares gapped down prior to trading on Thursday . The stock had previously closed at $33.34, but opened at $32.33. Alcoa shares last traded at $32.57, with a volume of 859,648 shares changing hands.

Analysts Set New Price Targets

AA has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Jefferies Financial Group reduced their price target on Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley dropped their price objective on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. HC Wainwright boosted their target price on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Finally, B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alcoa currently has an average rating of “Moderate Buy” and a consensus target price of $50.17.

Alcoa Stock Performance

The company’s 50-day moving average price is $35.07 and its two-hundred day moving average price is $38.09. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of -202.53, a PEG ratio of 0.19 and a beta of 2.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, equities research analysts anticipate that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Tuesday, March 4th. Alcoa’s payout ratio is -250.00%.

Institutional Trading of Alcoa

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Alcoa by 488.2% in the fourth quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company’s stock worth $30,320,000 after acquiring an additional 666,117 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Alcoa by 5.8% during the fourth quarter. California State Teachers Retirement System now owns 240,870 shares of the industrial products company’s stock worth $9,100,000 after purchasing an additional 13,137 shares during the period. 111 Capital bought a new position in shares of Alcoa in the 4th quarter worth $493,000. Wealth Enhancement Advisory Services LLC grew its position in Alcoa by 14.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,467 shares of the industrial products company’s stock valued at $395,000 after purchasing an additional 1,337 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Alcoa by 536.9% during the 4th quarter. Mackenzie Financial Corp now owns 645,140 shares of the industrial products company’s stock valued at $24,373,000 after purchasing an additional 543,853 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

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.