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

Alcoa Co. (NYSE:AA - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $38.20 and last traded at $37.86, with a volume of 3638044 shares changing hands. The stock had previously closed at $36.88.

Analyst Ratings Changes

Several research firms recently commented on AA. UBS Group boosted their price objective on shares of Alcoa from $27.00 to $32.00 and gave the company a "sell" rating in a research report on Friday, April 19th. Bank of America boosted their price target on shares of Alcoa from $31.00 to $32.00 and gave the company a "neutral" rating in a report on Monday, March 18th. JPMorgan Chase & Co. increased their price objective on Alcoa from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Thursday, January 18th. Jefferies Financial Group lifted their price objective on Alcoa from $45.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, April 18th. Finally, BMO Capital Markets upped their target price on Alcoa from $35.00 to $37.00 and gave the stock a "market perform" rating in a research report on Thursday, April 18th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Alcoa presently has a consensus rating of "Hold" and a consensus price target of $33.54.

Alcoa Stock Up 2.1 %

The firm has a 50-day moving average of $32.26 and a two-hundred day moving average of $29.47. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of -10.02, a PEG ratio of 3.78 and a beta of 2.47. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) 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 business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the firm earned ($0.23) earnings per share. The business's quarterly revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts predict that Alcoa Co. will post 0.2 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Monday, March 4th. Alcoa's dividend payout ratio (DPR) is presently -10.64%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AA. Principal Financial Group Inc. lifted its position in shares of Alcoa by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 671,954 shares of the industrial products company's stock worth $22,705,000 after buying an additional 16,752 shares during the period. New York State Teachers Retirement System increased its holdings in shares of Alcoa by 0.4% during the first quarter. New York State Teachers Retirement System now owns 153,900 shares of the industrial products company's stock worth $5,200,000 after buying an additional 600 shares in the last quarter. Carmel Capital Partners LLC raised its stake in shares of Alcoa by 13.9% in the first quarter. Carmel Capital Partners LLC now owns 33,125 shares of the industrial products company's stock valued at $1,119,000 after acquiring an additional 4,046 shares during the last quarter. Spire Wealth Management raised its stake in shares of Alcoa by 252.5% in the first quarter. Spire Wealth Management now owns 899 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 644 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Alcoa by 2.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 51,400 shares of the industrial products company's stock valued at $1,737,000 after purchasing an additional 1,300 shares during the last quarter.

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.