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

Alcoa Co. (NYSE:AA) announced a quarterly dividend on Wednesday, October 16th, RTT News reports. Shareholders of record on Tuesday, October 29th will be given a dividend of 0.10 per share by the industrial products company on Friday, November 15th. This represents a $0.40 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Tuesday, October 29th.

Alcoa has a payout ratio of 13.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Alcoa to earn $2.79 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 14.3%.

Alcoa Stock Performance

AA stock opened at $41.10 on Monday. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of -10.93 and a beta of 2.42. The firm has a 50-day simple moving average of $35.97 and a two-hundred day simple moving average of $36.98. Alcoa has a one year low of $23.17 and a one year high of $45.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.23 by $0.34. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.14) earnings per share. On average, equities analysts forecast that Alcoa will post 0.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. B. Riley Financial reaffirmed a “neutral” rating and issued a $41.00 price objective on shares of Alcoa in a research report on Tuesday, September 17th. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the company from $41.00 to $50.00 in a research report on Thursday, October 17th. Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the company from $43.00 to $52.00 in a research report on Tuesday, October 1st. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $44.75.

Insider Transactions at Alcoa

In other news, EVP Renato Bacchi sold 23,867 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the sale, the executive vice president now owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.08% of the company’s stock.

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.