Alcoa Co. (NYSE:AA) Announces Quarterly Dividend of $0.10

Alcoa Co. (NYSE:AA) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Investors of record on Tuesday, March 4th will be paid a dividend of 0.10 per share by the industrial products company on Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Tuesday, March 4th.

Alcoa has increased its dividend by an average of 58.7% per year over the last three years. Alcoa has a payout ratio of 11.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Alcoa to earn $3.17 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 12.6%.

Alcoa Stock Down 7.7 %

Shares of AA stock opened at $34.40 on Friday. Alcoa has a 1 year low of $24.86 and a 1 year high of $47.77. The stock has a market cap of $8.89 billion, a PE ratio of -214.98, a price-to-earnings-growth ratio of 0.20 and a beta of 2.43. The business’s fifty day moving average is $36.93 and its 200-day moving average is $37.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. Equities analysts expect that Alcoa will post 4.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

AA has been the topic of a number of recent research reports. Morgan Stanley decreased their target price on Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. BMO Capital Markets raised their target price on Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Bank of America raised their target price on Alcoa to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their target price on Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Finally, B. Riley raised Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Alcoa currently has an average rating of “Moderate Buy” and an average price target of $46.55.

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.