Alcoa (NYSE:AA) PT Raised to $45.00

Alcoa (NYSE:AA) had its target price lifted by BMO Capital Markets from $42.00 to $45.00 in a report released on Thursday morning, Benzinga reports. They currently have a market perform rating on the industrial products company’s stock.

Several other research analysts have also recently weighed in on AA. B. Riley Financial restated a “neutral” rating and issued a $41.00 price objective on shares of Alcoa in a research report on Tuesday, September 17th. UBS Group lifted their target price on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research note on Wednesday, September 4th. Bank of America upgraded Alcoa from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $43.00 to $52.00 in a research report on Tuesday, October 1st. Finally, StockNews.com downgraded shares of Alcoa from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Alcoa currently has an average rating of “Moderate Buy” and an average price target of $44.45.

Alcoa Price Performance

Shares of AA stock opened at $41.71 on Thursday. The stock’s fifty day moving average is $34.96 and its 200-day moving average is $36.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. Alcoa has a 52 week low of $23.07 and a 52 week high of $45.48. The stock has a market capitalization of $7.49 billion, a PE ratio of -11.09 and a beta of 2.42.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the firm earned ($1.14) EPS. The company’s revenue was up 11.6% on a year-over-year basis. Equities research analysts expect that Alcoa will post 0.29 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Tuesday, October 29th. Alcoa’s payout ratio is -10.64%.

Hedge Funds Weigh In On Alcoa

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp raised its stake in Alcoa by 15.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after buying an additional 309 shares during the period. Blue Trust Inc. increased its holdings in shares of Alcoa by 12.0% in the third quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company’s stock worth $128,000 after acquiring an additional 344 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Alcoa by 1.4% during the second quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock worth $1,073,000 after purchasing an additional 368 shares during the period. Diversified Trust Co raised its position in shares of Alcoa by 5.7% during the first quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 416 shares during the period. Finally, CWM LLC lifted its holdings in shares of Alcoa by 19.5% during the 2nd quarter. CWM LLC now owns 3,651 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 596 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

About Alcoa

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 two segments, 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.