Alcoa Co. (NYSE:AA) Announces Quarterly Dividend of $0.10

Alcoa Co. (NYSE:AA) announced a quarterly dividend on Thursday, May 9th, RTT News reports. Stockholders of record on Tuesday, May 21st will be paid a dividend of 0.10 per share by the industrial products company on Friday, June 7th. This represents a $0.40 annualized dividend and a dividend yield of 1.07%.

Alcoa has a dividend payout ratio of 19.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Alcoa to earn $2.16 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 18.5%.

Alcoa Stock Performance

Shares of NYSE AA traded up $0.72 during trading on Thursday, reaching $37.36. 4,532,336 shares of the stock traded hands, compared to its average volume of 6,342,817. The company has a 50-day moving average of $33.59 and a 200-day moving average of $29.95. Alcoa has a 52-week low of $23.07 and a 52-week high of $38.20. The stock has a market capitalization of $6.71 billion, a P/E ratio of -9.74, a price-to-earnings-growth ratio of 3.77 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:AA) last posted its 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 net margin of 6.41% and a negative return on equity of 8.51%. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the firm earned ($0.23) EPS. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. Analysts forecast that Alcoa will post 0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Alcoa from $27.00 to $32.00 and gave the stock a “sell” rating in a report on Friday, April 19th. Morgan Stanley upgraded Alcoa from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $28.50 to $36.50 in a research report on Monday, April 22nd. Jefferies Financial Group upped their target price on Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. B. Riley boosted their price objective on shares of Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Alcoa currently has a consensus rating of “Hold” and a consensus target price of $33.54.

Insider Transactions at Alcoa

In related news, EVP Tammi A. Jones sold 26,468 shares of the company’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 completion of the sale, the executive vice president now owns 41,166 shares in the company, valued at $1,267,089.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.08% 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.