UBS Group Cuts Alcoa (NYSE:AA) Price Target to $47.00

Alcoa (NYSE:AA) had its price target cut by UBS Group from $53.00 to $47.00 in a report released on Thursday, Marketbeat reports. They currently have a buy rating on the industrial products company’s stock.

AA has been the topic of a number of other reports. BMO Capital Markets increased their price objective on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Bank of America increased their price target on Alcoa to $58.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Jefferies Financial Group dropped their price objective on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 6th. Morgan Stanley cut their price objective on Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lifted their target price on Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.92.

Alcoa Price Performance

Shares of Alcoa stock opened at $30.58 on Thursday. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of -191.15, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. The stock has a 50 day moving average price of $34.75 and a 200-day moving average price of $38.13. Alcoa has a one year low of $27.12 and a one year high of $47.77.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Equities analysts expect that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th were issued a $0.10 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.31%. Alcoa’s dividend payout ratio is currently -250.00%.

Institutional Trading of Alcoa

A number of hedge funds have recently bought and sold shares of the stock. Retirement Systems of Alabama grew its position in shares of Alcoa by 41.6% in the 3rd quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock worth $12,107,000 after buying an additional 92,201 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Alcoa by 6.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,116 shares of the industrial products company’s stock valued at $24,233,000 after acquiring an additional 36,869 shares in the last quarter. Mountaineer Partners Management LLC grew its holdings in Alcoa by 4,023.0% in the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after purchasing an additional 10,534,036 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Alcoa by 42.0% during the third quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock worth $161,838,000 after purchasing an additional 1,239,479 shares in the last quarter. Finally, Impala Asset Management LLC purchased a new stake in shares of Alcoa during the 3rd quarter valued at $6,366,000. Hedge funds and other institutional investors own 82.39% 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.