Alcoa (NYSE:AA) Sets New 12-Month Low – Here’s Why

Alcoa Co. (NYSE:AA) shares hit a new 52-week low during trading on Friday . The stock traded as low as $25.75 and last traded at $25.85, with a volume of 90194 shares traded. The stock had previously closed at $27.33.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. HC Wainwright raised their price objective on Alcoa to $90.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Jefferies Financial Group cut their price target on Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Bank of America raised their price target on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Morgan Stanley cut their target price on Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $49.92.

Alcoa Price Performance

The stock has a market cap of $6.42 billion, a P/E ratio of -154.96, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. The firm has a 50-day moving average price of $33.79 and a 200-day moving average price of $38.00.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, March 4th. Alcoa’s payout ratio is currently -250.00%.

Institutional Trading of Alcoa

Several hedge funds and other institutional investors have recently made changes to their positions in AA. Bessemer Group Inc. raised its position in shares of Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 296 shares during the last quarter. Versant Capital Management Inc increased its stake in Alcoa by 134.7% during the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 520 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Alcoa in the fourth quarter worth about $29,000. Point72 Hong Kong Ltd bought a new position in shares of Alcoa in the fourth quarter worth approximately $36,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Alcoa by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock valued at $39,000 after buying an additional 393 shares during the last quarter. Hedge funds and other 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.