Arizona State Retirement System Purchases 6,980 Shares of Alcoa Co. (NYSE:AA)

Arizona State Retirement System boosted its position in shares of Alcoa Co. (NYSE:AA) by 10.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 74,974 shares of the industrial products company’s stock after purchasing an additional 6,980 shares during the quarter. Arizona State Retirement System’s holdings in Alcoa were worth $2,833,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Retirement Systems of Alabama grew its holdings in shares of Alcoa by 41.6% in the 3rd 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 during the period. ING Groep NV acquired a new stake in Alcoa during the 3rd quarter worth $10,201,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Alcoa by 6.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,116 shares of the industrial products company’s stock worth $24,233,000 after acquiring an additional 36,869 shares in the last quarter. Aigen Investment Management LP grew its stake in Alcoa by 73.0% in the third quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock valued at $1,422,000 after acquiring an additional 15,546 shares during the period. Finally, Mountaineer Partners Management LLC increased its holdings in shares of Alcoa by 4,023.0% in the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after acquiring an additional 10,534,036 shares in the last quarter. Institutional investors own 82.39% of the company’s stock.

Alcoa Stock Up 0.0 %

Alcoa stock opened at $32.84 on Monday. The company has a fifty day simple moving average of $35.92 and a 200 day simple moving average of $37.99. 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 Co. has a 1-year low of $27.12 and a 1-year high of $47.77. The company has a market cap of $8.50 billion, a P/E ratio of -205.27, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, beating 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%. Research analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Tuesday, March 4th. Alcoa’s dividend payout ratio is currently -250.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AA shares. B. Riley upgraded Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. BMO Capital Markets lifted their price target on shares of Alcoa to $43.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Bank of America upped their price target on shares of Alcoa to $58.00 and gave the company a “buy” rating in a report on Friday, January 24th. JPMorgan Chase & Co. raised their price objective on shares of Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Finally, Morgan Stanley reduced their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Alcoa presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.55.

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.