Alcoa (NYSE:AA) Issues Earnings Results

Alcoa (NYSE:AA) announced its quarterly earnings results on Thursday. The industrial products company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.36 by $0.04, FiscalAI reports. Alcoa had a net margin of 9.12% and a return on equity of 16.19%. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.35 billion.

Alcoa Trading Up 0.2%

Shares of NYSE AA traded up $0.15 during midday trading on Thursday, reaching $70.53. 5,849,597 shares of the stock were exchanged, compared to its average volume of 7,346,032. The stock has a 50 day moving average price of $63.61 and a 200-day moving average price of $52.36. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $18.61 billion, a P/E ratio of 15.96 and a beta of 1.70. Alcoa has a 52-week low of $22.68 and a 52-week high of $75.70.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 10th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. Alcoa’s payout ratio is 9.05%.

Institutional Trading of Alcoa

A number of hedge funds have recently bought and sold shares of the company. Vident Advisory LLC purchased a new position in shares of Alcoa during the 2nd quarter worth $222,000. Coldstream Capital Management Inc. acquired a new stake in shares of Alcoa during the third quarter worth $216,000. Virtus Advisers LLC purchased a new stake in shares of Alcoa in the fourth quarter valued at $207,000. EFG International AG acquired a new position in Alcoa in the fourth quarter valued at $170,000. Finally, UMB Bank n.a. increased its stake in Alcoa by 29.1% in the fourth quarter. UMB Bank n.a. now owns 3,023 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 682 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AA shares. Wells Fargo & Company set a $68.00 price objective on Alcoa in a research note on Thursday, March 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a report on Monday, December 29th. JPMorgan Chase & Co. upped their price target on shares of Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. BMO Capital Markets upped their price target on Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. Finally, Citigroup raised their target price on shares of Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a report on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.73.

Alcoa Company Profile

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.