Alcoa $AA Shares Bought by Strs Ohio

Strs Ohio raised its position in Alcoa (NYSE:AA) by 27.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,116 shares of the industrial products company’s stock after purchasing an additional 7,546 shares during the period. Strs Ohio’s holdings in Alcoa were worth $1,036,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AA. Retirement Systems of Alabama grew its stake in shares of Alcoa by 0.6% during the second quarter. Retirement Systems of Alabama now owns 316,416 shares of the industrial products company’s stock worth $9,337,000 after purchasing an additional 1,966 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Alcoa by 357.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,656 shares of the industrial products company’s stock worth $78,000 after buying an additional 2,076 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in Alcoa by 138.8% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 108,411 shares of the industrial products company’s stock worth $3,199,000 after buying an additional 63,010 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Alcoa by 29.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,487 shares of the industrial products company’s stock worth $516,000 after acquiring an additional 3,926 shares in the last quarter. Finally, ARGA Investment Management LP increased its holdings in shares of Alcoa by 2.8% in the 2nd quarter. ARGA Investment Management LP now owns 3,018,772 shares of the industrial products company’s stock valued at $89,084,000 after acquiring an additional 83,410 shares during the last quarter.

Alcoa Price Performance

AA stock opened at $36.75 on Friday. The firm has a 50 day moving average of $34.64 and a 200-day moving average of $30.86. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.40. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 0.20 and a beta of 2.26.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.13. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Alcoa had a return on equity of 15.85% and a net margin of 8.91%.The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. As a group, equities analysts expect that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Tuesday, November 4th will be given a $0.10 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. Alcoa’s dividend payout ratio (DPR) is currently 9.24%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Argus set a $45.00 target price on Alcoa in a research note on Thursday, October 30th. HSBC lifted their target price on Alcoa from $33.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Morgan Stanley set a $43.50 price target on shares of Alcoa in a research report on Friday, October 24th. Wells Fargo & Company started coverage on Alcoa in a research report on Tuesday, October 7th. They set an “overweight” rating and a $40.00 price objective for the company. Finally, B. Riley raised their target price on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $42.35.

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.