The average one-year price target for Alcoa (NYSE:AA) has been revised to 39.86 / share. This is an decrease of 14.12% from the prior estimate of 46.42 dated July 5, 2023.
The price target is an average of many targets provided by analysts. The latest targets range from a low of 25.25 to a high of 57.75 / share. The average price target represents an increase of 10.15% from the latest reported closing price of 36.19 / share.
Alcoa Declares $0.10 Dividend
On May 4, 2023 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of May 16, 2023 received the payment on June 2, 2023. Previously, the company paid $0.10 per share.
At the current share price of $36.19 / share, the stock's dividend yield is 1.11%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.64%, the lowest has been 0.43%, and the highest has been 7.05%. The standard deviation of yields is 1.16 (n=236).
The current dividend yield is 0.46 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.06. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.20%.
What is the Fund Sentiment?
There are 1000 funds or institutions reporting positions in Alcoa. This is a decrease of 35 owner(s) or 3.38% in the last quarter. Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 0.72%. Total shares owned by institutions increased in the last three months by 0.57% to 171,387K shares. 
The put/call ratio of AA is 1.29, indicating a bearish outlook.
What are Other Shareholders Doing?
Bank of New York Mellon holds 10,299K shares representing 5.77% ownership of the company. In it's prior filing, the firm reported owning 5,974K shares, representing an increase of 42.00%. The firm increased its portfolio allocation in AA by 54.56% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,536K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 5,375K shares, representing an increase of 2.91%. The firm decreased its portfolio allocation in AA by 10.98% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,460K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 5,464K shares, representing a decrease of 0.08%. The firm decreased its portfolio allocation in AA by 10.49% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,668K shares representing 2.62% ownership of the company. In it's prior filing, the firm reported owning 4,558K shares, representing an increase of 2.34%. The firm decreased its portfolio allocation in AA by 8.01% over the last quarter.
Franklin Resources holds 4,417K shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 3,961K shares, representing an increase of 10.32%. The firm decreased its portfolio allocation in AA by 77.65% over the last quarter.
Alcoa Background Information
(This description is provided by the company.)
Alcoa is a global industry leader in bauxite, alumina, and aluminum products, and is built on a foundation of strong values and operating excellence dating back more than 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Since developing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability, and stronger communities wherever we operate.
Additional reading:
- AMENDED AND RESTATED BYLAWS ALCOA CORPORATION Incorporated under the Laws of the State of Delaware
- Alcoa Corporation Reports Second Quarter 2023 Results
- Alcoa Corporation Reports First Quarter 2023 Results
- Alcoa Purchases Group Annuity Contracts for Certain Canadian Pension Plans
- Alcoa Announces Closure of Intalco Smelter and Prepares Site for Redevelopment
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
