Alcoa Corp (NYSE:AA) has reported that Tammi A. Jones, the company's Executive Vice President and Chief Human Resources Officer (CHRO), sold a total of $858,746 worth of company stock, according to a recent SEC filing. The transactions occurred on March 13, 2024, with share prices ranging between $30.67 and $30.7761.
Jones executed two separate sales transactions involving the company's common stock. In the first transaction, 26,468 shares were sold at a weighted average price of $30.7761, while in the second transaction, 1,440 shares were sold at a price of $30.67000. The filing indicated that the sales were made in multiple transactions at prices from $30.7400 to $30.8000.
After the transactions, Jones's direct holdings in Alcoa Corp amounted to 41,166 shares. Additionally, the filing noted indirect ownership of 9,265 shares by Jones's spouse and a fluctuating amount of 59 shares held in the company's 401(k) plan.
The report does not specify the exact reason for the sales, but such transactions are a routine part of executive compensation and portfolio management. Shareholders and potential investors often monitor insider sales as they can provide insights into an executive's perspective on the company's current valuation and future prospects.
For those interested in the specifics of the transactions, the SEC filing includes a footnote that the executive is willing to provide full information regarding the number of shares sold at each price within the stated range upon request.
The transactions were signed off by Megan C. Yancey, attorney-in-fact for Tammi A. Jones, and the SEC filing was made public on March 15, 2024.
InvestingPro Insights
Amidst the news of Alcoa Corp's (NYSE:AA) Executive Vice President and Chief Human Resources Officer selling a significant amount of company stock, investors may be seeking a broader context to understand the company's financial health and future prospects. According to InvestingPro data, Alcoa Corp has a market capitalization of $5.47 billion with a negative P/E ratio of -8.40, reflecting investor concerns about profitability. However, the company's revenue for the last twelve months as of Q4 2023 stands at $10.55 billion, despite a decrease of 15.26% in revenue growth during the same period.
The gross profit margin for Alcoa Corp is currently at 7.9%, which aligns with the InvestingPro Tip that the company suffers from weak gross profit margins. This metric is particularly relevant as it may provide insights into the company's operational efficiency and pricing strategy. Furthermore, the volatility in the company's stock price, as indicated by a recent 10% increase in the one-month price total return and a -23.48% change in the one-year price total return, is underscored by another InvestingPro Tip highlighting the stock's price movements as quite volatile.
Investors considering Alcoa Corp's potential for a turnaround will find an InvestingPro Tip that analysts predict the company will be profitable this year, despite not being profitable over the last twelve months. This forecasted shift towards profitability may be a key factor for those looking at the long-term investment horizon.
For individuals seeking a deeper analysis, InvestingPro offers additional insights and metrics that can enhance investment decisions. By using the coupon code PRONEWS24, investors can receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes access to an extensive array of InvestingPro Tips – with a total of 5 additional tips listed for Alcoa Corp at https://www.investing.com/pro/AA. These tips could prove invaluable in crafting a well-informed investment strategy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.