Alcoa Co. (AA) to Issue Quarterly Dividend of $0.10 on August 25th

Alcoa Co. (NYSE:AAGet Rating) announced a quarterly dividend on Thursday, July 28th, RTT News reports. Stockholders of record on Tuesday, August 9th will be given a dividend of 0.10 per share by the industrial products company on Thursday, August 25th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Monday, August 8th.

Alcoa has a payout ratio of 5.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Alcoa to earn $6.38 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 6.3%.

Alcoa Trading Up 3.5 %

AA opened at $49.52 on Friday. The company’s 50 day moving average is $49.70 and its 200-day moving average is $65.29. Alcoa has a 1-year low of $36.61 and a 1-year high of $98.09. The company has a current ratio of 1.81, a quick ratio of 1.02 and a debt-to-equity ratio of 0.24. The company has a market cap of $8.91 billion, a P/E ratio of 9.73, a PEG ratio of 0.75 and a beta of 2.33.

Alcoa (NYSE:AAGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The industrial products company reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates of $3.71 by ($1.04). Alcoa had a net margin of 7.19% and a return on equity of 30.66%. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same quarter in the previous year, the business posted $1.49 earnings per share. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. Equities research analysts predict that Alcoa will post 6.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AA has been the subject of several analyst reports. Morgan Stanley lowered their price target on shares of Alcoa from $55.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, July 25th. Credit Suisse Group lowered their price target on shares of Alcoa from $82.00 to $63.00 and set a “neutral” rating for the company in a report on Tuesday, July 19th. The Goldman Sachs Group lowered their price target on shares of Alcoa from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday, July 22nd. BMO Capital Markets lowered their price objective on shares of Alcoa from $57.00 to $55.00 in a research note on Thursday, July 21st. Finally, Citigroup lowered shares of Alcoa from a “buy” rating to a “neutral” rating and set a $84.00 price objective for the company. in a research note on Thursday, April 21st. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $78.64.

Hedge Funds Weigh In On Alcoa

A number of hedge funds and other institutional investors have recently made changes to their positions in AA. Moors & Cabot Inc. raised its stake in Alcoa by 2.2% in the 1st quarter. Moors & Cabot Inc. now owns 8,748 shares of the industrial products company’s stock valued at $788,000 after acquiring an additional 185 shares during the period. Fairfield Bush & CO. bought a new stake in shares of Alcoa during the first quarter valued at about $29,000. US Bancorp DE increased its position in shares of Alcoa by 4.9% during the first quarter. US Bancorp DE now owns 9,359 shares of the industrial products company’s stock valued at $842,000 after buying an additional 434 shares during the period. Hsbc Holdings PLC increased its position in shares of Alcoa by 2.2% during the first quarter. Hsbc Holdings PLC now owns 41,552 shares of the industrial products company’s stock valued at $3,783,000 after buying an additional 914 shares during the period. Finally, Cresset Asset Management LLC increased its position in shares of Alcoa by 16.9% during the first quarter. Cresset Asset Management LLC now owns 7,009 shares of the industrial products company’s stock valued at $631,000 after buying an additional 1,011 shares during the period.

Alcoa Company Profile

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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 three segments: Bauxite, 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.

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Dividend History for Alcoa (NYSE:AA)

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