Alcoa (NYSE:AA) Sets New 12-Month High at $38.20

Alcoa Co. (NYSE:AA) shares reached a new 52-week high during trading on Monday . The company traded as high as $38.20 and last traded at $37.86, with a volume of 3638044 shares trading hands. The stock had previously closed at $36.88.

Analyst Upgrades and Downgrades

AA has been the subject of a number of research analyst reports. Bank of America raised their target price on Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, March 18th. B. Riley boosted their price target on Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, April 18th. BMO Capital Markets boosted their price objective on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. JPMorgan Chase & Co. boosted their target price on Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Finally, StockNews.com downgraded Alcoa from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alcoa has an average rating of “Hold” and an average target price of $33.54.

Alcoa Trading Up 2.1 %

The firm has a 50 day moving average of $32.06 and a 200-day moving average of $29.40. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.45.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period last year, the company earned ($0.23) EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities research analysts predict that Alcoa Co. will post 0.2 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were paid a $0.10 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.06%. Alcoa’s dividend payout ratio (DPR) is currently -10.64%.

Insider Buying and Selling

In related news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the transaction, the executive vice president now owns 41,166 shares of the company’s stock, valued at $1,267,089.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional Trading of Alcoa

Several hedge funds and other institutional investors have recently bought and sold shares of AA. SG Americas Securities LLC bought a new stake in Alcoa during the 3rd quarter valued at $1,408,000. Handelsbanken Fonder AB lifted its holdings in shares of Alcoa by 92.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 166,121 shares of the industrial products company’s stock valued at $4,827,000 after purchasing an additional 79,802 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Alcoa by 2.5% during the 3rd quarter. Raymond James & Associates now owns 20,874 shares of the industrial products company’s stock valued at $607,000 after purchasing an additional 501 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Alcoa by 12.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,317 shares of the industrial products company’s stock valued at $1,113,000 after purchasing an additional 4,272 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. purchased a new stake in shares of Alcoa during the 3rd quarter valued at $283,000.

About Alcoa

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.