Short Interest in Alcoa Co. (NYSE:AA) Decreases By 10.9%
Alcoa Co. (NYSE:AA – Get Free Report) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 11,820,000 shares, a decline of 10.9% from the October 31st total of 13,270,000 shares. Based on an average daily volume of 5,730,000 shares, the short-interest ratio is currently 2.1 days. Currently, 6.7% of the shares of the company are short sold.
Alcoa Stock Down 3.4 %
AA traded down $0.93 during trading on Monday, reaching $26.81. 4,950,356 shares of the company were exchanged, compared to its average volume of 5,253,416. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.66 and a quick ratio of 0.83. Alcoa has a 52 week low of $23.07 and a 52 week high of $57.61. The firm has a 50 day moving average of $26.15 and a 200 day moving average of $30.46.
Alcoa (NYSE:AA – Get Free Report) last posted its earnings results on Wednesday, October 18th. The industrial products company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.01). The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. Alcoa had a negative return on equity of 6.73% and a negative net margin of 8.24%. Alcoa’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.33) EPS. As a group, equities research analysts expect that Alcoa will post -2.38 earnings per share for the current year.
Alcoa Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Tuesday, October 31st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, October 30th. Alcoa’s dividend payout ratio (DPR) is presently -8.11%.
Institutional Investors Weigh In On Alcoa
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Fairfield Bush & CO. acquired a new stake in shares of Alcoa during the first quarter worth approximately $29,000. Neo Ivy Capital Management purchased a new stake in shares of Alcoa during the second quarter worth $27,000. Resurgent Financial Advisors LLC acquired a new stake in Alcoa during the fourth quarter valued at $32,000. ICA Group Wealth Management LLC purchased a new position in Alcoa in the fourth quarter valued at about $36,000. Finally, Industrial Alliance Investment Management Inc. acquired a new position in Alcoa in the 1st quarter worth about $37,000.
Analyst Upgrades and Downgrades
AA has been the subject of several recent analyst reports. StockNews.com initiated coverage on Alcoa in a report on Thursday, October 5th. They issued a “sell” rating for the company. Citigroup decreased their target price on shares of Alcoa from $42.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. Jefferies Financial Group dropped their price target on shares of Alcoa from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, October 4th. Bank of America lowered shares of Alcoa from a “buy” rating to a “neutral” rating and decreased their price target for the company from $35.00 to $25.00 in a report on Monday, October 23rd. Finally, TheStreet downgraded Alcoa from a “c-” rating to a “d+” rating in a report on Thursday, November 16th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.59.
Get Our Latest Stock Report on Alcoa
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 three segments: Bauxite, 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.
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Original: MarketBeat News Feed: Short Interest in Alcoa Co. (NYSE:AA) Decreases By 10.9%