Dallas, Texas 12/23/2013 (FINANCIALSTRENDS) – As per the recent announcements made by Alcoa Inc (NYSE:AA) that they are saying that Alcoa has been able to develop a proprietary surface finishing technology with the help of which they will be able to use the aerospace grade aluminum for consumer electronics such as mobiles and other devices. The current market capitalization of Alcoa Inc. is around $10.69 billion and the latest share price is trending at $10.01.
The 52 week low of the company’s stock is $7.63 and the 52 week high is around $10.08. But recently one of the biggest banks Deutsche Bank downgraded the Alcoa Inc.’s rating from buy to sell as there is a strong pressure on the earnings for the current quarter.
Overview of the Alcoa Inc (NYSE:AA)
Alcoa Inc. is a company that deals in the management and manufacturing of the fabricated aluminum, primary aluminum and alumina. There are four main segments that company operates and those are Primary metals, Alumina, engineered products and services and global rolled products.
The company also inked a multi-year pact with Airbus for the supply of titanium and aluminum for aerospace forgings. The value of the contract is pegged at around $110 million. The company is planning to make all these parts at their modern and upgraded facility in Cleveland, Ohio. This is the same facility that also deals in material related to aerospace specifications.
The company is also positive for its future growth and is going to supply large aluminum forgings for the A380, A330 and A380 inner rear wing spar. With international demand for metals also going to increase in the coming months it seems that this is the best time to enter this stock or buy on dips and sell on increase is also advised.
