Treasurer of the State of North Carolina Reduces Stock Holdings in Alcoa Co. (NYSE:AA)

Treasurer of the State of North Carolina lessened its holdings in shares of Alcoa Co. (NYSE:AA) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,488 shares of the industrial products company’s stock after selling 990 shares during the period. Treasurer of the State of North Carolina’s holdings in Alcoa were worth $4,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantinno Capital Management LP purchased a new stake in Alcoa in the 3rd quarter worth approximately $253,000. MML Investors Services LLC purchased a new stake in Alcoa during the third quarter worth $308,000. Wilmington Savings Fund Society FSB purchased a new stake in Alcoa during the third quarter worth $239,000. Synovus Financial Corp acquired a new stake in Alcoa during the third quarter valued at $456,000. Finally, Retirement Systems of Alabama increased its holdings in Alcoa by 41.6% in the third quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock valued at $12,107,000 after buying an additional 92,201 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Alcoa Stock Performance

NYSE:AA opened at $24.67 on Wednesday. The company has a market cap of $6.39 billion, a P/E ratio of -154.16, a P/E/G ratio of 0.19 and a beta of 2.28. Alcoa Co. has a twelve month low of $21.53 and a twelve month high of $47.77. The company’s 50-day moving average price is $31.82 and its 200-day moving average price is $37.25. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, sell-side analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Tuesday, March 4th. Alcoa’s dividend payout ratio (DPR) is presently -250.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AA. JPMorgan Chase & Co. dropped their target price on Alcoa from $40.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. B. Riley raised Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. UBS Group reduced their target price on Alcoa from $47.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday. 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. Finally, Morgan Stanley reduced their price objective on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alcoa has a consensus rating of “Moderate Buy” and an average price target of $45.00.

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.