It is trading at $34.60 which is marginally over the 50 day moving average which is $32.11 and which is just a bit higher than the 200 day moving average of $33.31. The 50 day moving average went up by +7.76% and the 200 day average was up $1.29. (NYSE:AA) shares saw light trading volume with 4,134K shares changing hands by the end of trading on Thursday. Shares saw a steep decrease in trading volume of 83.28% under the normal average daily volume.
Here is the rundown on market activity for Alcoa Corporation (NYSE:AA). Robert Sean Collins, Exec VP and Controller reported the sale of 40,447 shares. The shares were purchased at an average price of $29.55. Collins now owns $828,405 of the stock according to the SEC filing. Ratan Tata, Director acquired $22,604 worth of shares at an average price of $26.75 on Thu the 13th. Tata now owns $580,288 of stock per an SEC filing yesterday.
Director Martin Sorrell purchased 820 shares at an average price of $26.75 on October 13th. That brings the Director’s holdings to $344,219 as recorded in a recent Form 4 SEC filing.
These firms have also modified their investment in AA. Carmignac Gestion expanded its investment by buying 10,001 shares an increase of 2.7% in the quarter. Carmignac Gestion controls 380,000 shares with a value of $13,072,000. The value of the position overall is up by 25.8%. Meeder Asset Management Inc cut its holdings by shedding 13,376 shares a decrease of 93.5% as of 03/31/2017. Meeder Asset Management Inc currently owns 933 shares worth $32,000. The total value of its holdings decreased 75.9%.
As of the end of the quarter Norges Bank had disposed of a total of 6,346,747 shares trimming its position 23.0%. The value in dollars decreased from $266,889,000 to $203,878,000 a change of $63,011,000 quarter over quarter. Meag Munich Ergo Kapitalanlagegesellschaft Mbh trimmed its position by selling 1,746,414 shares a decrease of 99.5% from 09/30/2016 to 03/31/2017. Meag Munich Ergo Kapitalanlagegesellschaft Mbh now holds 8,000 shares valued at $267,000. The total value of its holdings decreased 98.5%.
On May 22, 2017 Clarksons Platou began coverage of the stock by announcing an initial rating of “Outperform”. On December 9 analysts at Argus Research starting coverage on AA with a rating of “Buy”.
Equity analyst Deutsche Bank started covering AA with an initial rating of “Sell”. Cowen & Co. started coverage giving it an initial rating of “Overweight”.
On November 2, 2016 Bank of America started covering the stock setting a rating of “Sell”. On November 2 analysts at Goldman Sachs issued its first research report on the stock setting a rating of “Neutral”.
The company is now down by -1.14% since yesterday’s close of $35. The company’s P/E ratio is 186.02 and the market value is 6.37B. As of the latest earnings report the EPS was $0.19 and is projected to be $2.84 for the current year with 184,240,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $0.68 with next year’s EPS anticipated to be $2.59.
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. It operates through six segments, Bauxite, Alumina, Aluminum, Cast Products, Energy, and Rolled Products. The company also offers aluminum cast products; and aluminum sheets for the production of cans for beverage, food, and pet food. In addition, it engages in the generation and sale of renewable energy, as well as provision of ancillary services. The company was formerly known as Alcoa Upstream Corporation and changed its name to Alcoa Corporation in October 2016. Alcoa Corporation is based in New York, New York..