Alcoa (NYSE:AA) Reaches New 1-Year High at $39.83

Alcoa Co. (NYSE:AAGet Free Report)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $39.83 and last traded at $39.72, with a volume of 1592238 shares. The stock had previously closed at $37.12.

Wall Street Analyst Weigh In

AA has been the topic of several recent research reports. Jefferies Financial Group lifted their price target on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. UBS Group lifted their price target on Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, April 19th. B. Riley lifted their price target on Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. BMO Capital Markets lifted their target price on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Finally, Bank of America lifted their target price on Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.54.

Check Out Our Latest Stock Report on Alcoa

Alcoa Trading Up 8.0 %

The business has a 50-day simple moving average of $33.98 and a two-hundred day simple moving average of $30.19. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of -10.65, a P/E/G ratio of 3.81 and a beta of 2.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.93.

Alcoa (NYSE:AAGet Free Report) last announced its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the firm earned ($0.23) EPS. Alcoa’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities analysts forecast that Alcoa Co. will post 0.2 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Monday, May 20th. Alcoa’s dividend payout ratio is presently -10.64%.

Insider Transactions at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the transaction, the executive vice president now owns 41,166 shares in the company, valued at approximately $1,267,089.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Hedge Funds Weigh In On Alcoa

A number of hedge funds have recently added to or reduced their stakes in the stock. Spire Wealth Management increased its stake in shares of Alcoa by 252.5% in the 1st quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Alcoa in the 4th quarter valued at $31,000. Private Wealth Management Group LLC bought a new position in shares of Alcoa in the 4th quarter valued at $33,000. Quent Capital LLC increased its stake in shares of Alcoa by 64.2% in the 4th quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 387 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new position in shares of Alcoa in the 4th quarter valued at $39,000.

Alcoa Company Profile

(Get Free Report)

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.

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