Brokerages Set Alcoa (NYSE:AA) PT at $61.09

Shares of Alcoa (NYSE:AA) have received a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $61.0909.

Several research firms have recently issued reports on AA. Zacks Research lowered shares of Alcoa from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Royal Bank Of Canada set a $70.00 price target on Alcoa in a report on Wednesday, July 1st. Argus dropped their price objective on Alcoa from $73.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. B. Riley Financial cut their price objective on Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. decreased their target price on Alcoa from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Friday, July 17th.

Alcoa Stock Up 0.0%

Shares of AA opened at $50.18 on Friday. Alcoa has a 52 week low of $28.92 and a 52 week high of $84.38. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $13.24 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 0.57 and a beta of 1.63. The stock’s 50-day moving average price is $54.73 and its 200-day moving average price is $60.92.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a net margin of 9.48% and a return on equity of 18.90%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the prior year, the business posted $0.39 earnings per share. On average, sell-side analysts predict that Alcoa will post 6.55 EPS for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be given a $0.10 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. Alcoa’s dividend payout ratio (DPR) is 8.23%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Alcoa during the 2nd quarter worth approximately $1,528,523,000. Bank of New York Mellon Corp boosted its stake in shares of Alcoa by 211.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock worth $332,338,000 after acquiring an additional 4,247,559 shares during the last quarter. Castle Hook Partners LP purchased a new stake in shares of Alcoa during the fourth quarter worth approximately $210,874,000. Maple Rock Capital Partners Inc. acquired a new position in Alcoa in the 4th quarter valued at $173,412,000. Finally, AQR Capital Management LLC lifted its holdings in Alcoa by 153.4% in the 4th quarter. AQR Capital Management LLC now owns 4,134,425 shares of the industrial products company’s stock valued at $219,703,000 after purchasing an additional 2,503,132 shares in the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.