Louisiana State Employees Retirement System Buys 400 Shares of Alcoa $AA

Louisiana State Employees Retirement System increased its stake in Alcoa (NYSE:AA) by 0.6% during the 2nd quarter, Holdings Channel reports. The firm owned 72,800 shares of the industrial products company’s stock after purchasing an additional 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Alcoa were worth $2,148,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. KLP Kapitalforvaltning AS increased its position in shares of Alcoa by 6.0% in the second quarter. KLP Kapitalforvaltning AS now owns 52,900 shares of the industrial products company’s stock worth $1,561,000 after purchasing an additional 3,000 shares during the last quarter. DAVENPORT & Co LLC bought a new position in shares of Alcoa in the second quarter worth approximately $344,000. 111 Capital bought a new position in shares of Alcoa in the second quarter worth approximately $430,000. QRG Capital Management Inc. increased its position in shares of Alcoa by 96.5% in the second quarter. QRG Capital Management Inc. now owns 22,081 shares of the industrial products company’s stock worth $652,000 after purchasing an additional 10,845 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of Alcoa in the second quarter worth approximately $82,000.

Alcoa Price Performance

Shares of Alcoa stock opened at $35.05 on Friday. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 0.23 and a beta of 2.20. The company has a fifty day moving average of $32.07 and a 200-day moving average of $29.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.65.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the business earned $0.16 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. Equities research analysts expect that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th were issued a $0.10 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. Alcoa’s dividend payout ratio (DPR) is currently 10.44%.

Analysts Set New Price Targets

AA has been the topic of several research analyst reports. Wall Street Zen cut shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. Wells Fargo & Company started coverage on shares of Alcoa in a research report on Tuesday. They issued an “overweight” rating and a $40.00 price objective on the stock. Bank of America lifted their price target on shares of Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a research note on Thursday, July 17th. Citigroup upgraded shares of Alcoa to a “buy” rating and set a $42.00 price objective for the company in a report on Tuesday, July 8th. Finally, B. Riley upped their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.04.

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.