Alcoa (NYSE:AA) Reaches New 1-Year Low - Here's Why

Alcoa Co. (NYSE:AA - Get Free Report)'s share price hit a new 52-week low on Friday . The stock traded as low as $25.75 and last traded at $25.85, with a volume of 90194 shares trading hands. The stock had previously closed at $27.33.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. BMO Capital Markets increased their price target on Alcoa to $43.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. Jefferies Financial Group dropped their price target on shares of Alcoa from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Bank of America restated an "underperform" rating and set a $26.00 price objective (down from $58.00) on shares of Alcoa in a research report on Tuesday. Morgan Stanley cut their target price on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Finally, UBS Group reduced their price target on shares of Alcoa from $53.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $47.25.

Alcoa Trading Up 6.4 %

The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The business has a 50-day simple moving average of $33.09 and a 200-day simple moving average of $37.76. The company has a market cap of $6.22 billion, a PE ratio of -150.13, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28.

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Alcoa (NYSE:AA - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, analysts predict that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.67%. Alcoa's dividend payout ratio (DPR) is -250.00%.

Institutional Trading of Alcoa

Hedge funds have recently modified their holdings of the stock. Retirement Systems of Alabama raised its position in Alcoa by 41.6% in the 3rd quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company's stock valued at $12,107,000 after purchasing an additional 92,201 shares in the last quarter. Geode Capital Management LLC raised its holdings in Alcoa by 42.0% in the third quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company's stock valued at $161,838,000 after acquiring an additional 1,239,479 shares in the last quarter. Impala Asset Management LLC purchased a new position in Alcoa in the third quarter worth approximately $6,366,000. HB Wealth Management LLC acquired a new position in Alcoa during the 4th quarter worth approximately $211,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Alcoa in the 4th quarter valued at approximately $454,000. 82.39% of the stock is currently owned by institutional investors and hedge funds.

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.