Shares of Alcoa Co. (NYSE:AA – Get Rating) gapped up before the market opened on Thursday . The stock had previously closed at $35.23, but opened at $36.70. Alcoa shares last traded at $35.39, with a volume of 146,400 shares.
Analyst Ratings Changes
A number of research analysts recently weighed in on AA shares. Wolfe Research cut Alcoa from an "outperform" rating to a "peer perform" rating in a report on Thursday, September 22nd. Morgan Stanley raised Alcoa from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $51.00 to $66.00 in a research report on Friday, September 16th. B. Riley decreased their price target on Alcoa from $54.00 to $51.00 in a research note on Tuesday. BMO Capital Markets decreased their price target on Alcoa from $57.00 to $55.00 in a research note on Thursday, July 21st. Finally, Credit Suisse Group decreased their target price on Alcoa from $63.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, September 21st. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $78.55.
Get Alcoa alerts:Alcoa Price Performance
The company has a quick ratio of 1.02, a current ratio of 1.81 and a debt-to-equity ratio of 0.24. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 6.81, a price-to-earnings-growth ratio of 0.50 and a beta of 2.31. The company's 50-day moving average is $48.05 and its 200-day moving average is $59.24.
Alcoa (NYSE:AA – Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The industrial products company reported $2.67 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.07. Alcoa had a net margin of 7.19% and a return on equity of 30.66%. The firm had revenue of $3.64 billion for the quarter, compared to analysts' expectations of $3.48 billion. During the same period in the prior year, the firm earned $1.49 earnings per share. The company's quarterly revenue was up 28.6% compared to the same quarter last year. Equities research analysts expect that Alcoa Co. will post 7.16 earnings per share for the current fiscal year.Alcoa Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Tuesday, August 9th were issued a $0.10 dividend. The ex-dividend date was Monday, August 8th. This represents a $0.40 annualized dividend and a yield of 1.15%. Alcoa's dividend payout ratio (DPR) is presently 7.86%.
Institutional Investors Weigh In On Alcoa
Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its stake in Alcoa by 16.3% in the 2nd quarter. State Street Corp now owns 7,842,113 shares of the industrial products company's stock valued at $357,444,000 after buying an additional 1,101,643 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Alcoa by 1,748.8% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,437,142 shares of the industrial products company's stock valued at $262,723,000 after acquiring an additional 4,197,142 shares during the period. Soroban Capital Partners LP bought a new position in shares of Alcoa in the 4th quarter valued at about $226,347,000. Egerton Capital UK LLP grew its position in shares of Alcoa by 2.6% in the 2nd quarter. Egerton Capital UK LLP now owns 3,620,585 shares of the industrial products company's stock valued at $165,026,000 after acquiring an additional 90,052 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Alcoa during the 1st quarter worth about $318,670,000.
About Alcoa
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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.
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