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Video: What is a Stock Split?


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Alcoa is a vertically integrated aluminum company which comprised of bauxite mining, alumina refining, aluminum production (smelting, casting, and rolling), and energy generation. As of Dec 31 2017, Co. had more than 40 operating locations (through direct and indirect ownership) in 10 countries around the world, primarily in Australia, Brazil, Canada, Europe, and the United States. According to our Alcoa stock split history records, Alcoa has had 6 splits.
Alcoa stock split history picture
Alcoa (AA) has 6 splits in our Alcoa stock split history database. The first split for AA took place on February 04, 1974. This was a 3 for 2 split, meaning for each 2 shares of AA owned pre-split, the shareholder now owned 3 shares. For example, a 1000 share position pre-split, became a 1500 share position following the split. AA's second split took place on February 23, 1981. This was a 2 for 1 split, meaning for each share of AA owned pre-split, the shareholder now owned 2 shares. For example, a 1500 share position pre-split, became a 3000 share position following the split. AA's third split took place on February 27, 1995. This was a 2 for 1 split, meaning for each share of AA owned pre-split, the shareholder now owned 2 shares. For example, a 3000 share position pre-split, became a 6000 share position following the split. AA's 4th split took place on February 26, 1999. This was a 2 for 1 split, meaning for each share of AA owned pre-split, the shareholder now owned 2 shares. For example, a 6000 share position pre-split, became a 12000 share position following the split. AA's 5th split took place on June 12, 2000. This was a 2 for 1 split, meaning for each share of AA owned pre-split, the shareholder now owned 2 shares. For example, a 12000 share position pre-split, became a 24000 share position following the split. AA's 6th split took place on October 06, 2016. This was a 1 for 3 reverse split, meaning for each 3 shares of AA owned pre-split, the shareholder now owned 1 share. For example, a 24000 share position pre-split, became a 8000 share position following the split.

When a company such as Alcoa splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as Alcoa conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share. Looking at the Alcoa stock split history from start to finish, an original position size of 1000 shares would have turned into 8000 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Alcoa shares, starting with a $10,000 purchase of AA, presented on a split-history-adjusted basis factoring in the complete Alcoa stock split history. Alcoa split adjusted history picture

Growth of $10,000.00
With Dividends Reinvested

Start date: 08/21/2008
End date: 08/20/2018
Start price/share: $96.42
End price/share: $41.83
Starting shares: 103.71
Ending shares: 117.03
Dividends reinvested/share: $3.81
Total return: -51.05%
Average Annual Total Return: -6.89%
Starting investment: $10,000.00
Ending investment: $4,896.42
Years: 10.00
 
Growth of $10,000.00
Without Dividends Reinvested

Start date: 08/21/2008
End date: 08/20/2018
Start price/share: $96.42
End price/share: $41.83
Dividends collected/share: $3.81
Total return: -52.67%
Average Annual Total Return: -7.20%
Starting investment: $10,000.00
Ending investment: $4,735.77
Years: 10.00
Date Ratio
02/04/19743 for 2
02/23/19812 for 1
02/27/19952 for 1
02/26/19992 for 1
06/12/20002 for 1
10/06/20161 for 3
AA is categorized under the Materials sector; below are some other companies in the same sector that also have a history of stock splits:

ABN Split History
ABS Split History
ABX Split History
ACH Split History
ACI Split History
ACK Split History
ACO Split History
ACS Split History
ADES Split History
AEPI Split History

Also explore: AA shares outstanding history


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