Alcoa (NYSE:AA) Shares Down 2%

Alcoa Co. (NYSE:AA)’s stock price was down 2% during mid-day trading on Tuesday . The stock traded as low as $33.42 and last traded at $33.80. Approximately 854,532 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 5,993,510 shares. The stock had previously closed at $34.50.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AA shares. B. Riley Financial reaffirmed a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday. Wolfe Research upgraded shares of 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. Citigroup boosted their price objective on shares of Alcoa from $32.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Morgan Stanley decreased their target price on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Bank of America cut their price target on Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $40.27.

Alcoa Price Performance

The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. The firm’s fifty day moving average price is $32.90 and its 200 day moving average price is $35.58. The stock has a market cap of $6.07 billion, a PE ratio of -9.00 and a beta of 2.42.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the firm earned ($0.35) EPS. The business’s revenue was up 8.3% on a year-over-year basis. As a group, equities analysts expect that Alcoa Co. will post 0.7 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa’s payout ratio is -10.64%.

Hedge Funds Weigh In On Alcoa

Several institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp boosted its holdings in shares of Alcoa by 15.1% in the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 309 shares during the period. Pacer Advisors Inc. boosted its stake in 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 buying an additional 368 shares during the period. Diversified Trust Co increased its position in Alcoa by 5.7% during the first quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 416 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Alcoa by 56.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 576 shares during the period. Finally, CWM LLC lifted its holdings in shares of Alcoa by 19.5% in the 2nd quarter. CWM LLC now owns 3,651 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 596 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Alcoa Company Profile

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.