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

Alcoa (NYSE:AA) shares hit a new 52-week high during trading on Monday . The stock traded as high as $65.19 and last traded at $65.2140, with a volume of 2748375 shares changing hands. The stock had previously closed at $63.67.

Wall Street Analyst Weigh In

Several research firms have issued reports on AA. Wells Fargo & Company increased their price objective on shares of Alcoa from $40.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, December 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $52.00 price target on shares of Alcoa in a research note on Monday, December 15th. UBS Group boosted their price objective on Alcoa from $42.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $50.00 price target (up from $45.00) on shares of Alcoa in a research note on Thursday. Finally, Citigroup boosted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.75.

Alcoa Stock Up 3.1%

The firm has a 50-day moving average of $45.79 and a two-hundred day moving average of $37.17. The company has a market capitalization of $17.00 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 0.25 and a beta of 1.95. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.40.

Alcoa (NYSE:AA) last issued its quarterly earnings data 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. Alcoa had a return on equity of 15.85% and a net margin of 8.91%.The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period last year, the company earned $0.57 EPS. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Equities research analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Tuesday, November 4th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, November 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. Alcoa’s dividend payout ratio is 9.24%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc increased its holdings in Alcoa by 1,096.0% during the 2nd quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 822 shares during the period. Advisory Services Network LLC purchased a new position in Alcoa in the third quarter worth approximately $27,000. Root Financial Partners LLC acquired a new position in Alcoa during the 3rd quarter worth approximately $29,000. Horrell Capital Management Inc. purchased a new stake in shares of Alcoa in the 2nd quarter valued at approximately $30,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Alcoa in the 3rd quarter valued at $33,000.

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.