JP Morgan has maintained its neutral recommendation for Alcoa (AA) on September 15, 2023, according to Fintel reports. The average one-year price target for Alcoa as of August 31, 2023, is 39.12, suggesting a potential upside of 29.58% from its latest closing price of 30.19. The projected annual revenue for Alcoa is expected to increase by 12.50%. The company also declared a regular quarterly dividend of $0.10 per share on July 27, 2023, with a dividend yield of 1.32% at the current share price. The company’s dividend payout ratio is -0.06, which indicates that it is not in a healthy situation as it is dipping into savings to maintain its dividend. The company’s 3-year dividend growth rate is -0.20%. In terms of fund sentiment, there are 882 funds or institutions reporting positions in Alcoa, with a decrease of 149 owners or 14.45% in the last quarter. The put/call ratio of AA is 1.03, indicating a bearish outlook. In terms of other shareholders, Bank of New York Mellon holds 4.22% ownership of the company, representing a decrease of 36.67%. Vanguard Total Stock Market Index Fund Investor Shares holds 3.12% ownership, representing an increase of 0.67%. iShares Core S&P Mid-Cap ETF holds 3.03% ownership, representing a decrease of 0.88%. Vanguard Small-Cap Index Fund Investor Shares holds 2.58% ownership, representing a decrease of 1.35%. Theleme Partners LLP holds 2.38% ownership, with no change in the last quarter. Alcoa is a global industry leader in bauxite, alumina, and aluminum products, with a history dating back more than 130 years. Fintel is a comprehensive investing research platform that provides data and analysis for individual investors, traders, financial advisors, and hedge funds.

By James TaylorSeptember 15, 2023Updated:September 15, 2023No Comments1 Min Read