NEW YORK (TheStreet) -- As companies fret over the current market selloff and uncertain economy, a growing number of them are turning to spinoffs to boost shareholder value. Aluminum maker Alcoa became the latest to announce plans to split into two separate companies on Monday. But experts caution the spinoff arena is getting crowded so investors need to scrutinize each plan carefully for debt levels, pricing, sector market performance and other factors before jumping in. Must Read: George Soros' Top 5 Dividend Stock Picks for 2015 "We see more and more spinoffs coming to market," said Jonathan Morgan, a deals analyst at Edge Consulting Group, an equity research firm that specializes in spinoffs.