Alcoa (NYSE:AA – Get Rating) had its price objective reduced by B. Riley from $54.00 to $51.00 in a research note released on Tuesday morning, The Fly reports.

Other research analysts have also recently issued reports about the stock. BMO Capital Markets reduced their price target on shares of Alcoa from $57.00 to $55.00 in a research report on Thursday, July 21st. Wolfe Research cut shares of Alcoa from an outperform rating to a peer perform rating in a research report on Thursday, September 22nd. Credit Suisse Group dropped their price objective on shares of Alcoa from $63.00 to $50.00 and set a neutral rating on the stock in a research note on Wednesday, September 21st. The Goldman Sachs Group dropped their price objective on shares of Alcoa from $90.00 to $80.00 and set a buy rating on the stock in a research note on Friday, July 22nd. Finally, Morgan Stanley upgraded shares of Alcoa from an equal weight rating to an overweight rating and lifted their price target for the stock from $51.00 to $66.00 in a research note on Friday, September 16th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $78.55.

Alcoa Price Performance

AA opened at $34.70 on Tuesday. The company's 50 day simple moving average is $48.25 and its 200 day simple moving average is $59.41. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.02 and a current ratio of 1.81. Alcoa has a 1 year low of $34.35 and a 1 year high of $98.09. The stock has a market capitalization of $6.24 billion, a PE ratio of 6.82, a P/E/G ratio of 0.51 and a beta of 2.31.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Tuesday, August 9th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Monday, August 8th. Alcoa's dividend payout ratio is presently 7.86%.

Institutional Trading of Alcoa

Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can lifted its position in shares of Alcoa by 45.5% in the first quarter. Bank of Montreal Can now owns 220,819 shares of the industrial products company's stock worth $20,368,000 after purchasing an additional 69,032 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Alcoa by 107.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 70,087 shares of the industrial products company's stock worth $6,310,000 after purchasing an additional 36,245 shares in the last quarter. Swiss National Bank lifted its position in shares of Alcoa by 7.6% in the first quarter. Swiss National Bank now owns 442,394 shares of the industrial products company's stock worth $39,829,000 after purchasing an additional 31,200 shares in the last quarter. Bornite Capital Management LP lifted its position in shares of Alcoa by 100.0% in the fourth quarter. Bornite Capital Management LP now owns 300,000 shares of the industrial products company's stock worth $17,874,000 after purchasing an additional 150,000 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Alcoa by 43.8% in the fourth quarter. State Street Corp now owns 6,383,551 shares of the industrial products company's stock worth $380,332,000 after purchasing an additional 1,943,329 shares in the last quarter.

Alcoa Company Profile

(Get Rating)

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.

Featured Articles

• Get a free copy of the StockNews.com research report on Alcoa (AA)
• Defensive Stocks For A Volatile Market
• SunPower Is Ready To Power Up Triple-Digit Earnings Gains
• Will UPS Be Next to Deliver a Warning?
• Is This the Darkest Before the Dawn for Gap Stock?
• Build A Better Tech Portfolio With Jabil Inc.

Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.