What Did This CEO Just Do with Personal Shares of Alcoa (NYSE: AA)?

By Carrie Williams

Yesterday, the Pres, CEO & Dir of Alcoa (AAResearch Report), Roy Christopher Harvey, sold shares of AA for $7.83M.

Following Roy Christopher Harvey’s last AA Sell transaction on April 13, 2015, the stock climbed by 5.1%. In addition to Roy Christopher Harvey, one other AA executive reported Sell trades in the last month.

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Based on Alcoa’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $2.87 billion and quarterly net profit of $175 million. In comparison, last year the company earned revenue of $2.38 billion and had a net profit of $80 million. The company has a one-year high of $36.54 and a one-year low of $6.38. AA’s market cap is $6.39 billion and the company has a P/E ratio of -87.90.

Based on 7 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $36.86, reflecting a -7.2% downside.

In the last 30 days, insiders have sold $8.27M worth of AA shares and purchased $5.74M worth of AA shares. The insider sentiment on Alcoa has been negative according to 46 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina. The Aluminum segment combines smelting and casting operations produce primary aluminum. The smelting operations produce molten primary aluminum, which is then formed by the casting operations into either foundry ingot or into value add ingot products, including billet, rod, and slab. The company was founded by Charles Martin Hall on July 9, 1886 and is headquartered in Pittsburgh, PA.