Report
Andrew Lane
EUR 147.86 For Business Accounts Only

Alcoa's split will put the attractive growth prospects of the downstream operations on display.

On July 27, Alcoa announced that it plans to pursue a 1-for-3 reverse stock split that would divide its share count by one third and thereby triple its stock price. Shareholders will vote on the proposition on Oct. 5. Approval will require the affirmative vote of a majority of all votes that are cast.
Regarding the company's stock, Alcoa said that this action "may improve liquidity and facilitate its trading." We are skeptical, however, as it appears that the split is being pursued solely for op...
Underlying
Alcoa Corporation

Alcoa is a vertically integrated aluminum company comprised of bauxite mining, alumina refining, aluminum production (smelting, casting, and rolling), and energy generation. Through direct and indirect ownership, the company has 30 operating locations in nine countries around the world, situated primarily in Australia, Brazil, Canada, Iceland, Norway, Spain, and United States.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Andrew Lane

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