Alcoa $AA Shares Acquired by Strs Ohio

Strs Ohio increased its stake in shares of Alcoa (NYSE:AA) by 27.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in shares of Alcoa by 5.6% in the second quarter. Public Employees Retirement System of Ohio now owns 80,223 shares of the industrial products company’s stock valued at $2,367,000 after acquiring an additional 4,255 shares in the last quarter. Voya Investment Management LLC increased its position in Alcoa by 4.3% during the 1st quarter. Voya Investment Management LLC now owns 1,176,886 shares of the industrial products company’s stock worth $35,895,000 after purchasing an additional 48,604 shares in the last quarter. Nordea Investment Management AB acquired a new position in Alcoa in the 2nd quarter valued at about $1,433,000. Ausbil Investment Management Ltd lifted its holdings in Alcoa by 650.0% in the 2nd quarter. Ausbil Investment Management Ltd now owns 15,000 shares of the industrial products company’s stock valued at $443,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Alcoa during the 2nd quarter worth about $44,151,000.

Analysts Set New Price Targets

AA has been the subject of several recent analyst reports. Weiss Ratings raised shares of Alcoa from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Argus set a $45.00 target price on Alcoa in a research report on Thursday, October 30th. BMO Capital Markets raised their price target on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Wells Fargo & Company started coverage on Alcoa in a report on Tuesday, October 7th. They issued an “overweight” rating and a $40.00 price target for the company. Finally, UBS Group upped their price objective on shares of Alcoa from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, September 19th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.35.

Alcoa Price Performance

AA stock opened at $36.75 on Friday. The company has a market cap of $9.52 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 0.20 and a beta of 2.26. 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 stock has a 50-day moving average price of $34.64 and a two-hundred day moving average price of $30.86. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77.

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

Alcoa Dividend Announcement

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

Alcoa Company 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.