B. Riley Financial Reaffirms “Neutral” Rating for Alcoa (NYSE:AA)

B. Riley Financial reiterated their neutral rating on shares of Alcoa (NYSE:AA) in a research report sent to investors on Tuesday morning, Stock Target Advisor reports. B. Riley Financial currently has a $41.00 price objective on the industrial products company’s stock.

Several other equities research analysts also recently commented on AA. StockNews.com raised Alcoa from a sell rating to a hold rating in a report on Thursday, July 18th. Bank of America reduced their price objective on shares of Alcoa from $46.00 to $43.00 and set a neutral rating for the company in a research note on Thursday, July 18th. Morgan Stanley dropped their target price on shares of Alcoa from $50.00 to $48.00 and set an overweight rating on the stock in a research report on Monday, July 22nd. Wolfe Research upgraded shares of Alcoa from a peer perform rating to an outperform rating and set a $36.00 price target on the stock in a report on Wednesday, September 4th. Finally, B. Riley raised their price objective on shares of Alcoa from $37.00 to $41.00 and gave the stock a neutral rating in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Alcoa has a consensus rating of Hold and an average target price of $40.45.

Alcoa Price Performance

Shares of NYSE AA opened at $34.92 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $32.70 and a two-hundred day moving average of $35.61. Alcoa has a twelve month low of $23.07 and a twelve month high of $45.48. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of -9.29 and a beta of 2.42.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the business posted ($0.35) earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, analysts expect that Alcoa will post 0.7 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

Institutional Trading of Alcoa

A number of institutional investors have recently bought and sold shares of AA. Dimensional Fund Advisors LP lifted its stake in shares of Alcoa by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock valued at $265,132,000 after purchasing an additional 390,930 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of Alcoa during the 2nd quarter worth about $93,061,000. L1 Capital Pty Ltd acquired a new position in shares of Alcoa during the 1st quarter valued at about $72,658,000. Capital Research Global Investors raised its stake in shares of Alcoa by 29.8% in the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock valued at $69,869,000 after acquiring an additional 475,000 shares in the last quarter. Finally, ARGA Investment Management LP lifted its holdings in Alcoa by 202.2% in the 1st quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after purchasing an additional 997,912 shares during the last quarter. Institutional investors and hedge funds 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.