Alcoa Corp (NYSE:AA) has a beta value of 2.48 and has seen 0.79 million shares traded in the recent trading session. The company, currently valued at $6.63B, closed the recent trade at $36.92 per share which meant it gained $0.58 on the day or 1.58% during that session. The AA stock price is -14.38% off its 52-week high price of $42.23 and 37.51% above the 52-week low of $23.07. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.3 million shares traded. The 3-month trading volume is 6.30 million shares.
Alcoa Corp (NYSE:AA) trade information
Sporting 1.58% in the green today, the stock has traded in the green over the last five days, when the AA stock price touched $36.92 or saw a rise of 1.99%. Year-to-date, Alcoa Corp shares have moved 8.57%, while the 5-day performance has seen it change 3.58%. Over the past 30 days, the shares of Alcoa Corp (NYSE:AA) have changed 23.67%. Short interest in the company has seen 13.18 million shares shorted with days to cover at 2.14.
Alcoa Corp (AA) estimates and forecasts
Figures show that Alcoa Corp shares have outperformed across the wider relevant industry. The company’s shares have gained 35.97% over the past 6 months, with this year growth rate of 113.66%, compared to -17.20% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -126.10% and 97.10% for the next quarter. Revenue growth from the last financial year stood is estimated to be 1.70%.
7 analysts offering their estimates for the company have set an average revenue estimate of $2.58 billion for the current quarter. 6 have an estimated revenue figure of $2.68 billion for the next quarter concluding in Jun 2024. Year-ago sales stood $2.73 billion and $2.69 billion respectively for this quarter and the next, and analysts expect sales will shrink by -5.60% for the current quarter and -0.40% for the next.
AA Dividends
Alcoa Corp is expected to release its next earnings report on April 17 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.40 at a share yield of 1.08%. The company’s dividend yield has gone up over the past 12 months.
Alcoa Corp (NYSE:AA)’s Major holders
Insiders own 1.09% of the company shares, while shares held by institutions stand at 85.89% with a share float percentage of 86.83%. Investors are also buoyed by the number of investors in a company, with Alcoa Corp having a total of 622 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 21.25 million shares worth more than $721.12 million. As of Jun 29, 2023, Blackrock Inc. held 11.91% of shares outstanding.
The other major institutional holder is Vanguard Group Inc, with the holding of over 17.95 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $609.07 million and represent 10.06% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund. As of Sep 29, 2023, the former fund manager holds about 3.13% shares in the company for having 5.58 million shares of worth $162.19 million while later fund manager owns 5.57 million shares of worth $189.11 million as of Jun 29, 2023, which makes it owner of about 3.12% of company’s outstanding stock.
