Alcoa (NYSE:AA) Stock Price Down 3.9% – Here’s Why

Shares of Alcoa (NYSE:AA) were down 3.9% during trading on Monday . The company traded as low as $29.70 and last traded at $29.87. Approximately 1,626,051 shares changed hands during trading, a decline of 71% from the average daily volume of 5,653,752 shares. The stock had previously closed at $31.09.

Wall Street Analyst Weigh In

AA has been the topic of a number of analyst reports. Wall Street Zen cut shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. UBS Group reissued a “neutral” rating and issued a $31.00 price target on shares of Alcoa in a research note on Thursday, May 15th. Citigroup upgraded Alcoa to a “buy” rating and set a $42.00 price objective on the stock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. increased their price target on shares of Alcoa from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, June 18th. Finally, Barclays increased their price objective on Alcoa to $31.00 and gave the stock a “hold” rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.31.

Alcoa Trading Down 5.0%

The firm has a market cap of $7.65 billion, a P/E ratio of 8.91, a P/E/G ratio of 0.19 and a beta of 2.25. The business’s 50-day moving average is $28.52 and its two-hundred day moving average is $31.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.71 and a quick ratio of 1.00.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.73 by $0.42. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.58 billion. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. As a group, analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Tuesday, May 20th. Alcoa’s payout ratio is 12.05%.

Institutional Trading of Alcoa

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bessemer Group Inc. increased its stake in shares of Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 296 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Alcoa by 134.7% during the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 520 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Alcoa during the 4th quarter valued at about $36,000. Montag A & Associates Inc. purchased a new stake in shares of Alcoa during the 1st quarter valued at about $40,000. Finally, Continuum Advisory LLC boosted its holdings in shares of Alcoa by 30.7% during the 4th quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 345 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

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.