Alcoa Co. (NYSE:AA) Stake Boosted by New York State Teachers Retirement System

New York State Teachers Retirement System increased its position in shares of Alcoa Co. (NYSE:AA) by 6.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,157 shares of the industrial products company’s stock after acquiring an additional 10,257 shares during the period. New York State Teachers Retirement System’s holdings in Alcoa were worth $6,333,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Alcoa by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock worth $265,132,000 after purchasing an additional 390,930 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new position in Alcoa during the second quarter valued at approximately $93,061,000. L1 Capital Pty Ltd acquired a new stake in Alcoa in the first quarter valued at approximately $72,658,000. Capital Research Global Investors increased its stake in shares of Alcoa by 29.8% during the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock worth $69,869,000 after purchasing an additional 475,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Alcoa by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company’s stock worth $49,958,000 after purchasing an additional 444,393 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Stock Up 0.4 %

Shares of AA opened at $40.73 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. The company has a 50-day simple moving average of $36.69 and a 200-day simple moving average of $37.15. Alcoa Co. has a 52 week low of $23.80 and a 52 week high of $45.48. The firm has a market capitalization of $10.52 billion, a P/E ratio of -23.14, a P/E/G ratio of 0.76 and a beta of 2.42.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned ($1.14) EPS. On average, equities research analysts expect that Alcoa Co. will post 0.89 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.98%. Alcoa’s dividend payout ratio is currently -22.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. B. Riley Financial reissued a “neutral” rating and set a $41.00 price objective on shares of Alcoa in a report on Tuesday, September 17th. Morgan Stanley boosted their target price on Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Bank of America upgraded Alcoa from a “neutral” rating to a “buy” rating and increased their price target for the company from $43.00 to $52.00 in a report on Tuesday, October 1st. Finally, UBS Group boosted their price objective on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.75.

Insider Activity

In other news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the sale, the executive vice president now directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.08% of the company’s stock.

Alcoa Profile

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.