Alcoa (NYSE:AA) Given New $28.00 Price Target at JPMorgan Chase & Co.

Alcoa (NYSE:AA) had its price objective trimmed by JPMorgan Chase & Co. from $40.00 to $28.00 in a report issued on Thursday,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

A number of other equities research analysts have also recently issued reports on AA. BMO Capital Markets boosted their target price on shares of Alcoa to $43.00 and gave the company a “hold” rating in a research report on Friday, January 17th. UBS Group decreased their target price on shares of Alcoa from $53.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. HC Wainwright raised their target price on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Bank of America reiterated an “underperform” rating and issued a $26.00 price target (down from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. Finally, B. Riley upgraded Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alcoa has a consensus rating of “Moderate Buy” and a consensus target price of $46.25.

Alcoa Trading Up 4.3 %

Shares of AA stock opened at $24.77 on Thursday. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77. The firm has a 50 day moving average price of $32.27 and a two-hundred day moving average price of $37.45. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $6.41 billion, a PE ratio of -154.78, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. As a group, analysts predict that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.62%. Alcoa’s dividend payout ratio (DPR) is currently -250.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AA. Captrust Financial Advisors increased its holdings in shares of Alcoa by 20.4% during the third quarter. Captrust Financial Advisors now owns 6,208 shares of the industrial products company’s stock worth $240,000 after buying an additional 1,050 shares in the last quarter. Quantinno Capital Management LP acquired a new position in Alcoa in the 3rd quarter worth about $253,000. MML Investors Services LLC acquired a new position in Alcoa in the 3rd quarter worth about $308,000. Continuum Advisory LLC raised its position in Alcoa by 1,945.5% in the third quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 1,070 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Alcoa by 42.0% during the third quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock worth $161,838,000 after purchasing an additional 1,239,479 shares during the last quarter. 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.