Alcoa (AA) To Go Ex-Dividend on May 19th

Alcoa (NYSE:AA) declared a quarterly dividend on Thursday, May 7th. Shareholders of record on Tuesday, May 19th will be given a dividend of 0.10 per share by the industrial products company on Friday, June 5th. This represents a c) annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, May 19th.

Alcoa has a payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Alcoa to earn $7.91 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 5.1%.

Alcoa Stock Performance

NYSE AA opened at $63.14 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.48 and a quick ratio of 0.88. Alcoa has a 1 year low of $25.78 and a 1 year high of $75.70. The company has a market capitalization of $16.66 billion, a PE ratio of 15.99 and a beta of 1.51. The company has a fifty day moving average of $65.08 and a two-hundred day moving average of $55.44.

Alcoa (NYSE:AA) last released its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.20). Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the company earned $2.15 EPS. The business’s revenue was down 5.2% on a year-over-year basis. As a group, analysts expect that Alcoa will post 7.95 earnings per share for the current year.

Institutional Investors Weigh In On Alcoa

A number of hedge funds have recently added to or reduced their stakes in the company. Mirabella Financial Services LLP lifted its position in Alcoa by 12,233.1% in the third quarter. Mirabella Financial Services LLP now owns 40,082,462 shares of the industrial products company’s stock valued at $1,318,312,000 after purchasing an additional 39,757,462 shares during the period. Dimensional Fund Advisors LP lifted its position in Alcoa by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,580,803 shares of the industrial products company’s stock valued at $615,428,000 after purchasing an additional 462,243 shares during the period. State Street Corp lifted its position in Alcoa by 6.7% in the third quarter. State Street Corp now owns 11,458,529 shares of the industrial products company’s stock valued at $376,871,000 after purchasing an additional 721,063 shares during the period. Geode Capital Management LLC lifted its position in Alcoa by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 6,655,655 shares of the industrial products company’s stock valued at $389,621,000 after purchasing an additional 349,426 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Alcoa by 211.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock valued at $332,338,000 after purchasing an additional 4,247,559 shares during the period.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.