Alcoa Co. Plans Quarterly Dividend of $0.10 (NYSE:AA)

Alcoa Co. (NYSE:AAGet Rating) announced a quarterly dividend on Wednesday, May 4th, RTT News reports. Investors of record on Tuesday, May 17th will be paid a dividend of 0.10 per share by the industrial products company on Friday, June 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Monday, May 16th.

Alcoa has a dividend payout ratio of 4.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Alcoa to earn $11.26 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 3.6%.

Shares of Alcoa stock opened at $58.33 on Friday. The company has a 50-day moving average of $78.46 and a two-hundred day moving average of $65.59. Alcoa has a 12-month low of $31.00 and a 12-month high of $98.09. The company has a current ratio of 1.62, a quick ratio of 0.90 and a debt-to-equity ratio of 0.28. The stock has a market cap of $10.76 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 0.49 and a beta of 2.34.

Alcoa (NYSE:AAGet Rating) last released its quarterly earnings results on Wednesday, April 20th. The industrial products company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.07. The business had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Alcoa had a return on equity of 29.44% and a net margin of 5.75%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS. On average, sell-side analysts forecast that Alcoa will post 13.17 EPS for the current fiscal year.

In other Alcoa news, EVP John D. Slaven sold 28,326 shares of Alcoa stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $75.33, for a total value of $2,133,797.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Hedge funds have recently modified their holdings of the company. MML Investors Services LLC boosted its holdings in Alcoa by 107.1% in the 4th quarter. MML Investors Services LLC now owns 21,176 shares of the industrial products company’s stock worth $1,262,000 after acquiring an additional 10,950 shares during the period. Legal & General Group Plc boosted its stake in shares of Alcoa by 23.5% in the fourth quarter. Legal & General Group Plc now owns 532,118 shares of the industrial products company’s stock valued at $31,704,000 after purchasing an additional 101,141 shares during the period. Stifel Financial Corp grew its holdings in Alcoa by 40.0% during the 4th quarter. Stifel Financial Corp now owns 215,669 shares of the industrial products company’s stock valued at $12,850,000 after purchasing an additional 61,638 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in Alcoa during the 4th quarter worth $74,000. Finally, Metropolitan Life Insurance Co NY purchased a new stake in Alcoa during the 4th quarter worth $1,994,000.

AA has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Alcoa from $65.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, March 10th. Zacks Investment Research cut shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley cut their price objective on Alcoa from $100.00 to $96.00 and set an “equal weight” rating for the company in a research report on Monday, April 25th. StockNews.com cut Alcoa from a “buy” rating to a “hold” rating in a report on Friday, March 25th. Finally, JPMorgan Chase & Co. boosted their price target on Alcoa from $67.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, March 7th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $92.83.

About Alcoa (Get Rating)

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.

See Also

Dividend History for Alcoa (NYSE:AA)

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