On May 2, 2023 at 10:55:44 ET an unusually large $478.53K block of Put contracts in Alcoa (AA) was sold, with a strike price of $38.00 / share, expiring in 262 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 2.39 sigmas above the mean, placing it in the 99.06th percentile of all recent large trades made in AA options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 1035 funds or institutions reporting positions in Alcoa. This is a decrease of 15 owner(s) or 1.43% in the last quarter. Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 19.25%. Total shares owned by institutions increased in the last three months by 5.93% to 170,409K shares. The put/call ratio of AA is 1.24, indicating a bearish outlook.
Analyst Price Forecast Suggests 41.32% Upside
As of April 24, 2023, the average one-year price target for Alcoa is $52.67. The forecasts range from a low of $40.40 to a high of $68.25. The average price target represents an increase of 41.32% from its latest reported closing price of $37.27.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Alcoa is $12,227MM, an increase of 3.37%. The projected annual non-GAAP EPS is $3.60.
What are Other Shareholders Doing?
Jade Capital Advisors holds 8K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
IFM Investors Pty holds 32K shares representing 0.02% ownership of the company. In it’s prior filing, the firm reported owning 32K shares, representing an increase of 2.60%. The firm increased its portfolio allocation in AA by 28.12% over the last quarter.
Asia Research & Capital Management holds 10K shares representing 0.01% ownership of the company. No change in the last quarter.
IMAYX – Ivy Apollo Multi-Asset Income Fund Class Y holds 9K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 4K shares, representing an increase of 53.02%. The firm increased its portfolio allocation in AA by 215.94% over the last quarter.
United Services Automobile Association holds 18K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 20K shares, representing a decrease of 14.32%. The firm decreased its portfolio allocation in AA by 3.13% over the last quarter.
Alcoa Declares $0.10 Dividend
On February 23, 2023 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of March 7, 2023 received the payment on March 23, 2023. Previously, the company paid $0.10 per share.
At the current share price of $37.27 / share, the stock’s dividend yield is 1.07%. Looking back five years and taking a sample every week, the average dividend yield has been 1.61%, the lowest has been 0.43%, and the highest has been 7.05%. The standard deviation of yields is 1.17 (n=237).
The current dividend yield is 0.46 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is -0.09. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
Alcoa Background Information
(This description is provided by the company.)
Alcoa is a global industry leader in bauxite, alumina, and aluminum products, and is built on a foundation of strong values and operating excellence dating back more than 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Since developing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability, and stronger communities wherever we operate.
See all Alcoa regulatory filings.
This article originally appeared on Fintel
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