Alcoa Inc. NYSE:AA has planned to restart idled pot-lines at three aluminum smelters in the United States which will create approximately 260 new jobs through recall and hiring. The proposed resume will increase company’s aluminum production by 137,000 metric tons over the course of 2011 and by 200,000 metric tons on an annual basis. Company will have advantage of long-term, low-cost power options that will help Alcoa to reduce on the aluminum cost curve and improve overall competitiveness.
Alcoa Inc. NYSE:AA on January 07, 2010 surged 0.37% with the closing price of $16.42. The overall volume in the last trading session was 36.30 million shares. Its fifty two week range was $9.81- $17.60. The total market capitalization remained $ 16.77 billion.
Alcoa Inc. NYSE:AA is expected to announce its earnings report scheduled near the beginning of January’s second week. Alcoa declared its last dividend in the month of November at $0.03 per company’s common stock. Company’s last year financial performance remained positive as company declared positive growth in its revenue collections. Company’s year ago earnings per share was $0.01 per common share while the net sales remained $5.43 billion. The net sales were up 4.50% from previous year.
Instead of its positive growth in its sales the earnings results remained under the analysts expectations and marked downward surprise. Analysts estimated Alcoa to declare EPS at $0.06 but company declared its actual EPS at $0.01 marking a difference of $0.05 and a downward surprise of 83.30%. Company’s current market price is moving above its 50 days moving average of $14.53 while it is also moving ahead of its 200 days moving average of $12.37.
AA current stock price is moving forward than its 20 days moving average with 8.91% while it is going above its 50 days moving average with 16.32%. In its share capital AA has 1.02 billion shares outstanding and which all shares have been floating in the market.
AA has its stock institutional ownership at 63.93% while the stock insider ownership remained 0.10%. AA share price is ahead its 52 week low with 67.88% and also moving forward from its 52 week high at 6.06%. AA quarter performance remained 27.39% while company experienced a slight reduction in its earnings per share with 477.83%.
Alcoa Inc. （Alcoa） is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined. The Company’s products are used worldwide in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, and industrial applications. Alcoa is a global company operating in 31 countries. Based upon the country where the point of sale occurred, the United States （U.S.） and Europe generated 52% and 27%, respectively, of Alcoa’s sales during the year ended December 31, 2009. In addition, Alcoa has investments and operating activities in Australia, Brazil, China, Iceland, Guinea, Russia, and the Kingdom of Saudi Arabia. Alcoa’s operations consist of four worldwide segments: Alumina, Primary Metals, Flat-Rolled Products, and Engineered Products and Solutions. In August 2010, the Company acquired Traco, a maker of windows and doors for the commercial building and construction market.
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