Alcoa (NYSE:AA) Reaches New 12-Month High – What’s Next?

Shares of Alcoa (NYSE:AA) reached a new 52-week high on Monday . The company traded as high as $58.00 and last traded at $57.9130, with a volume of 90643 shares changing hands. The stock had previously closed at $56.54.

Wall Street Analysts Forecast Growth

AA has been the topic of several recent analyst reports. Argus set a $45.00 price objective on Alcoa in a research note on Thursday, October 30th. Citigroup upped their price objective on shares of Alcoa from $42.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. B. Riley upped their target price on Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Morgan Stanley reissued an “overweight” rating and issued a $52.00 price objective on shares of Alcoa in a research report on Monday, December 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Alcoa in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.15.

Alcoa Stock Up 4.6%

The stock has a market capitalization of $15.32 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 0.22 and a beta of 1.95. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.56 and a quick ratio of 0.91. The stock has a fifty day moving average price of $43.38 and a 200 day moving average price of $35.97.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.13. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $3.03 billion. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 earnings per share. On average, research analysts forecast that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Tuesday, November 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. Alcoa’s dividend payout ratio is presently 9.24%.

Hedge Funds Weigh In On Alcoa

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in shares of Alcoa by 29.6% during the fourth quarter. GAMMA Investing LLC now owns 4,781 shares of the industrial products company’s stock worth $254,000 after purchasing an additional 1,092 shares in the last quarter. Mirabella Financial Services LLP lifted its position in Alcoa by 25.1% during the third quarter. Mirabella Financial Services LLP now owns 406,715 shares of the industrial products company’s stock valued at $13,377,000 after purchasing an additional 81,715 shares during the last quarter. FNY Investment Advisers LLC grew its stake in Alcoa by 147.5% in the 3rd quarter. FNY Investment Advisers LLC now owns 12,473 shares of the industrial products company’s stock worth $410,000 after buying an additional 7,433 shares in the last quarter. Swiss Life Asset Management Ltd bought a new position in shares of Alcoa in the 3rd quarter worth $370,000. Finally, Cantor Fitzgerald L. P. purchased a new stake in shares of Alcoa during the 3rd quarter valued at $421,000.

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.