Alcoa Target of Unusually Large Options Trading (NYSE:AA)

Alcoa Co. (NYSE:AA) saw unusually large options trading activity on Thursday. Stock investors purchased 28,620 call options on the stock. This represents an increase of approximately 53% compared to the average daily volume of 18,647 call options.

Alcoa Stock Down 7.7 %

Shares of NYSE:AA opened at $34.40 on Friday. Alcoa has a 52-week low of $24.86 and a 52-week high of $47.77. The firm has a fifty day moving average of $36.93 and a 200 day moving average of $37.80. The firm has a market capitalization of $8.89 billion, a PE ratio of -214.98, a price-to-earnings-growth ratio of 0.20 and a beta of 2.43. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45.

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

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Tuesday, March 4th. Alcoa’s dividend payout ratio is presently -250.00%.

Institutional Trading of Alcoa

Several hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its stake in Alcoa by 536.9% in the fourth quarter. Mackenzie Financial Corp now owns 645,140 shares of the industrial products company’s stock worth $24,373,000 after purchasing an additional 543,853 shares during the last quarter. Forum Financial Management LP bought a new stake in Alcoa in the fourth quarter worth $291,000. Public Employees Retirement System of Ohio bought a new stake in Alcoa in the fourth quarter worth $3,202,000. Focus Partners Advisor Solutions LLC bought a new stake in Alcoa in the fourth quarter worth $426,000. Finally, Continuum Advisory LLC lifted its stake in Alcoa by 30.7% in the fourth quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 345 shares during the last quarter.

Analyst Ratings Changes

AA has been the subject of several research analyst reports. B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. BMO Capital Markets raised their price target on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Jefferies Financial Group reduced their price objective on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Bank of America lifted their price objective on shares of Alcoa to $58.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Morgan Stanley reduced their price objective on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.55.

Alcoa Company Profile

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.