Is It Time to Buy Alcoa Stock?
Alcoa is an aluminum producing plant that is located in Pittsburgh, Pennsylvania. On Tuesday, April 10, 2006 they reported that their first-quarter profits rose nearly 9% due to there being favorable metal prices and strong sales by this company.
Between January and March Alcoa earned $662 million, which equates to 75 cents per share. Last year they only earned $608 million, or 69 cents per share, during this same period.
Revenue also made a big climb from $7.1 billion to $7.9 billion. This was caused by higher metal prices. It also was caused by sales to the aerospace, industrial product, and building and construction markets, which have also increased since the company has been focusing more upon these markets..
Alcoa’s Chief Executive Officer, Alain Belda, also said that the company managed to deliver a strong quarter while investing in projects that will bring the company strong returns for several years into the future.
With Alain Belda’s statement combined with the positive statistics that this company has delivered just in this quarter alone, it looks as though now may be the time to purchase some stock in this company, of course that is assuming that there are any shares out on the market to purchase. This is because numerous people are more than likely trying to purchase these stocks now. Good luck!