Alcoa Co. (AA) to Issue Quarterly Dividend of $0.10 on June 7th

Alcoa Co. (NYSE:AA) announced a quarterly dividend on Thursday, May 9th, RTT News reports. Investors of record on Tuesday, May 21st will be given a dividend of 0.10 per share by the industrial products company on Friday, June 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, May 20th.

Alcoa has a dividend payout ratio of 19.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Alcoa to earn $2.16 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 18.5%.

Alcoa Stock Performance

AA stock opened at $41.25 on Friday. 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 has a twelve month low of $23.07 and a twelve month high of $41.55. The business’s fifty day moving average is $35.16 and its 200-day moving average is $30.67. The company has a market cap of $7.41 billion, a P/E ratio of -10.97, a price-to-earnings-growth ratio of 4.11 and a beta of 2.45.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.23) EPS. Equities research analysts forecast that Alcoa will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their target price on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. B. Riley boosted their price objective on Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. BMO Capital Markets raised their target price on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. UBS Group upped their price target on shares of Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a report on Friday, April 19th. Finally, Morgan Stanley upgraded shares of Alcoa from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $28.50 to $36.50 in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $33.54.

Insider Activity at Alcoa

In related news, EVP Tammi A. Jones sold 26,468 shares of Alcoa stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the sale, the executive vice president now owns 41,166 shares of the company’s stock, valued at $1,267,089.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.08% of the stock is owned by insiders.

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.