Brokerages Set Alcoa Co. (NYSE:AA) PT at $44.75

Shares of Alcoa Co. (NYSE:AA) have received an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $44.75.

Several brokerages have commented on AA. B. Riley Financial reiterated a “neutral” rating and set a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Wednesday, October 23rd. B. Riley upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and upped their target price for the company from $41.00 to $50.00 in a research report on Thursday, October 17th. UBS Group upped their target price on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th.

Insider Buying and Selling

In related news, EVP Renato Bacchi sold 23,867 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total value of $1,009,335.43. Following the completion of the transaction, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.08% of the company’s stock.

Hedge Funds Weigh In On Alcoa

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AA. ANTIPODES PARTNERS Ltd acquired a new position in Alcoa in the 2nd quarter worth $93,061,000. L1 Capital Pty Ltd acquired a new position in shares of Alcoa during the 1st quarter worth about $72,658,000. Marshall Wace LLP boosted its stake in shares of Alcoa by 770.9% during the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock worth $56,599,000 after buying an additional 1,259,430 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Alcoa by 29.8% during the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock worth $69,869,000 after buying an additional 475,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Alcoa by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company’s stock worth $49,958,000 after buying an additional 444,393 shares during the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.

Alcoa Stock Performance

AA stock opened at $40.58 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. The company has a 50 day moving average price of $36.41 and a 200 day moving average price of $37.08. Alcoa has a fifty-two week low of $23.80 and a fifty-two week high of $45.48. The stock has a market capitalization of $7.29 billion, a PE ratio of -10.79 and a beta of 2.42.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.34. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the previous year, the company posted ($1.14) EPS. Alcoa’s revenue was up 11.6% on a year-over-year basis. Analysts forecast that Alcoa will post 0.29 EPS for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 29th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Tuesday, October 29th. Alcoa’s payout ratio is presently -10.64%.

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.