Short Interest in Alcoa (NYSE:AA) Grows By 41.6%

Alcoa (NYSE:AA) was the target of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 7,758,404 shares, a growth of 41.6% from the January 29th total of 5,480,549 shares. Based on an average daily trading volume, of 8,081,548 shares, the short-interest ratio is presently 1.0 days. Approximately 3.0% of the shares of the company are short sold. Approximately 3.0% of the shares of the company are short sold. Based on an average daily trading volume, of 8,081,548 shares, the short-interest ratio is presently 1.0 days.

Alcoa Trading Down 2.3%

NYSE:AA traded down $1.47 during trading hours on Friday, hitting $62.00. The company had a trading volume of 3,980,934 shares, compared to its average volume of 6,963,308. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.45 and a quick ratio of 0.87. The stock has a 50-day moving average price of $59.78 and a 200 day moving average price of $44.65. The company has a market capitalization of $16.06 billion, a PE ratio of 14.03 and a beta of 1.91. Alcoa has a 52 week low of $21.53 and a 52 week high of $66.95.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.95 by $0.31. Alcoa had a net margin of 9.12% and a return on equity of 16.18%. The business had revenue of $6.75 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same period last year, the business posted $1.04 earnings per share. Alcoa’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts predict that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 10th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. Alcoa’s payout ratio is currently 9.05%.

Institutional Investors Weigh In On Alcoa

Hedge funds have recently modified their holdings of the business. Basepoint Wealth LLC purchased a new stake in Alcoa in the fourth quarter valued at about $25,000. Advisory Services Network LLC purchased a new stake in Alcoa in the third quarter valued at $27,000. Raleigh Capital Management Inc. boosted its holdings in Alcoa by 52,500.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 525 shares during the period. Root Financial Partners LLC acquired a new position in shares of Alcoa during the third quarter worth $29,000. Finally, Horrell Capital Management Inc. acquired a new position in Alcoa during the second quarter worth approximately $30,000. Institutional investors own 82.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AA. B. Riley Financial reiterated a “buy” rating on shares of Alcoa in a research note on Friday, January 23rd. Zacks Research cut shares of Alcoa from a “strong-buy” rating to a “hold” rating in a report on Friday, February 13th. Wells Fargo & Company lowered their target price on Alcoa from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, UBS Group lifted their price objective on Alcoa from $42.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Alcoa presently has a consensus rating of “Hold” and a consensus price target of $48.25.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.