Investors Buy Alcoa (AA) on Weakness
Traders purchased shares of Alcoa Corp (NYSE:AA) on weakness during trading on Monday. $61.73 million flowed into the stock on the tick-up and $43.91 million flowed out of the stock on the tick-down, for a money net flow of $17.82 million into the stock. Of all equities tracked, Alcoa had the 33rd highest net in-flow for the day. Alcoa traded down ($0.16) for the day and closed at $52.94
AA has been the subject of several recent research reports. Citigroup reaffirmed a “buy” rating and issued a $55.00 price target (up previously from $53.00) on shares of Alcoa in a report on Friday, October 20th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $60.00 price target on shares of Alcoa in a report on Thursday, October 19th. Credit Suisse Group raised Alcoa from a “neutral” rating to an “outperform” rating and increased their price target for the company from $42.00 to $61.00 in a report on Wednesday, December 20th. BMO Capital Markets reaffirmed a “buy” rating and issued a $60.00 price target on shares of Alcoa in a report on Wednesday, November 15th. Finally, Berenberg Bank set a $44.00 price target on Alcoa and gave the company a “hold” rating in a report on Wednesday, October 18th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $57.72.
The firm has a market cap of $9,200.00 and a PE ratio of 41.78. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.17.
In related news, VP William F. Oplinger sold 229,475 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $52.86, for a total value of $12,130,048.50. Following the completion of the transaction, the vice president now directly owns 108,915 shares in the company, valued at $5,757,246.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Tomas Mar Sigurdsson sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $51.37, for a total value of $513,700.00. Following the completion of the transaction, the chief operating officer now owns 46,832 shares of the company’s stock, valued at $2,405,759.84. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of AA. Robeco Institutional Asset Management B.V. purchased a new position in shares of Alcoa during the fourth quarter worth $103,000. Cerebellum GP LLC purchased a new position in shares of Alcoa during the fourth quarter worth $127,000. Huntington National Bank purchased a new position in shares of Alcoa during the third quarter worth $112,000. Fruth Investment Management purchased a new position in shares of Alcoa during the fourth quarter worth $200,000. Finally, HL Financial Services LLC purchased a new position in shares of Alcoa during the fourth quarter worth $200,000.
Alcoa Company Profile
Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.
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