Alcoa (NYSE:AA) Sets New 12-Month High at $38.20

Shares of Alcoa Co. (NYSE:AA) hit a new 52-week high during trading on Monday . The company traded as high as $38.20 and last traded at $37.86, with a volume of 3638044 shares. The stock had previously closed at $36.88.

Analyst Ratings Changes

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

Alcoa Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.93. The company’s 50-day moving average is $32.06 and its 200 day moving average is $29.40.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.23) EPS. On average, research analysts expect that Alcoa Co. will post 0.2 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were paid a $0.10 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.06%. Alcoa’s dividend payout ratio is presently -10.64%.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total value 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 document filed with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AA. SG Americas Securities LLC acquired a new position in shares of Alcoa during the 3rd quarter worth $1,408,000. Handelsbanken Fonder AB increased its stake in shares of Alcoa by 92.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 166,121 shares of the industrial products company’s stock worth $4,827,000 after purchasing an additional 79,802 shares during the last quarter. Raymond James & Associates increased its stake in shares of Alcoa by 2.5% during the 3rd quarter. Raymond James & Associates now owns 20,874 shares of the industrial products company’s stock worth $607,000 after purchasing an additional 501 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Alcoa by 12.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,317 shares of the industrial products company’s stock worth $1,113,000 after purchasing an additional 4,272 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new position in shares of Alcoa during the 3rd quarter worth $283,000.

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.