Alcoa (NYSE:AA) Sees Strong Trading Volume

Alcoa Co. (NYSE:AA) saw unusually-strong trading volume on Monday . Approximately 2,076,836 shares changed hands during trading, a decline of 65% from the previous session’s volume of 5,974,672 shares.The stock last traded at $34.91 and had previously closed at $32.52.

Analyst Ratings Changes

A number of analysts recently commented on the company. B. Riley raised their price target on Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday. UBS Group raised shares of Alcoa from a “sell” rating to a “buy” rating and lifted their target price for the company from $32.00 to $38.00 in a research note on Monday, August 12th. B. Riley Financial reissued a “neutral” rating and issued a $41.00 price target on shares of Alcoa in a research note on Tuesday. Morgan Stanley cut their price objective on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.27.

Alcoa Price Performance

The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $6.35 billion, a PE ratio of -9.04 and a beta of 2.42. The firm has a 50 day moving average of $32.90 and a two-hundred day moving average of $35.58.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the company earned ($0.35) earnings per share. Research analysts predict that Alcoa Co. will post 0.7 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 annualized dividend and a yield of 1.13%. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

Hedge Funds Weigh In On Alcoa

Hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in Alcoa in the 2nd quarter worth about $27,000. Spire Wealth Management lifted its position in Alcoa by 252.5% during the first quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 644 shares during the period. Scarborough Advisors LLC purchased a new stake in Alcoa in the fourth quarter worth approximately $39,000. Quest Partners LLC bought a new stake in Alcoa in the 4th quarter worth approximately $40,000. Finally, Quadrant Capital Group LLC raised its stake in Alcoa by 56.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock valued at $55,000 after buying an additional 576 shares during the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

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.