Alcoa Co. (AA) to Issue Quarterly Dividend of $0.10 on June 3rd

Alcoa Co. (NYSE:AAGet Rating) announced a quarterly dividend on Wednesday, May 4th, RTT News reports. Stockholders of record on Tuesday, May 17th will be paid a dividend of 0.10 per share by the industrial products company on Friday, June 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Monday, May 16th.

Alcoa has a payout ratio of 4.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Alcoa to earn $11.26 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 3.6%.

Shares of AA stock opened at $58.33 on Friday. Alcoa has a fifty-two week low of $31.00 and a fifty-two week high of $98.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.90 and a current ratio of 1.62. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 0.49 and a beta of 2.34. The stock’s 50-day simple moving average is $78.46 and its 200-day simple moving average is $65.59.

Alcoa (NYSE:AAGet Rating) last released its earnings results on Wednesday, April 20th. The industrial products company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.07. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.46 billion. Alcoa had a net margin of 5.75% and a return on equity of 29.44%. Alcoa’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. As a group, equities analysts forecast that Alcoa will post 13.17 earnings per share for the current year.

A number of research analysts have recently weighed in on AA shares. Deutsche Bank Aktiengesellschaft increased their price objective on Alcoa from $65.00 to $90.00 and gave the company a “hold” rating in a report on Thursday, March 10th. StockNews.com lowered shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Friday, March 25th. Wolfe Research reiterated a “buy” rating and issued a $105.00 price objective on shares of Alcoa in a research note on Friday, March 25th. Argus boosted their target price on shares of Alcoa from $68.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, March 21st. Finally, BMO Capital Markets lowered their price target on shares of Alcoa from $99.00 to $95.00 in a report on Thursday, April 21st. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $92.83.

In other news, EVP John D. Slaven sold 28,326 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. The stock was sold at an average price of $75.33, for a total value of $2,133,797.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

A number of large investors have recently bought and sold shares of AA. Renaissance Technologies LLC acquired a new stake in shares of Alcoa in the 1st quarter valued at about $318,670,000. Mackenzie Financial Corp boosted its holdings in shares of Alcoa by 87.1% in the first quarter. Mackenzie Financial Corp now owns 933,994 shares of the industrial products company’s stock valued at $84,087,000 after acquiring an additional 434,834 shares during the period. First Trust Advisors LP grew its position in shares of Alcoa by 65.2% during the first quarter. First Trust Advisors LP now owns 779,661 shares of the industrial products company’s stock worth $70,193,000 after acquiring an additional 307,681 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Alcoa by 152.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 343,301 shares of the industrial products company’s stock valued at $20,454,000 after acquiring an additional 207,099 shares during the period. Finally, Legal & General Group Plc raised its position in Alcoa by 23.5% in the 4th quarter. Legal & General Group Plc now owns 532,118 shares of the industrial products company’s stock valued at $31,704,000 after purchasing an additional 101,141 shares during the last quarter.

About Alcoa (Get Rating)

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 three segments: Bauxite, 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.

See Also

Dividend History for Alcoa (NYSE:AA)

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