New York State Common Retirement Fund Sells 7,496 Shares of Alcoa Co. (NYSE:AA)

New York State Common Retirement Fund reduced its stake in Alcoa Co. (NYSE:AA) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 431,837 shares of the industrial products company’s stock after selling 7,496 shares during the period. New York State Common Retirement Fund owned 0.17% of Alcoa worth $16,315,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AA. Mountaineer Partners Management LLC raised its holdings in 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 purchasing an additional 10,534,036 shares during the period. State Street Corp raised its stake in Alcoa by 23.3% during the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock worth $368,965,000 after buying an additional 1,805,915 shares during the period. Geode Capital Management LLC lifted its holdings in Alcoa by 42.0% during the third quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock worth $161,838,000 after acquiring an additional 1,239,479 shares in the last quarter. ARGA Investment Management LP lifted its holdings in Alcoa by 29.6% during the fourth quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company’s stock worth $113,276,000 after acquiring an additional 684,505 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Alcoa by 32.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,888,590 shares of the industrial products company’s stock valued at $72,862,000 after acquiring an additional 467,986 shares during the period. 82.39% of the stock is owned by institutional investors and hedge funds.

Alcoa Stock Performance

AA opened at $34.40 on Monday. The business’s 50-day simple moving average is $36.93 and its 200 day simple moving average is $37.92. Alcoa Co. has a 52-week low of $24.86 and a 52-week high of $47.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. The firm has a market capitalization of $8.89 billion, a PE ratio of -214.98, a PEG ratio of 0.21 and a beta of 2.43.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 EPS 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%. As a group, sell-side analysts expect that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Tuesday, March 4th. Alcoa’s dividend payout ratio (DPR) is presently -250.00%.

Wall Street Analysts Forecast Growth

AA has been the topic of a number of research analyst reports. Bank of America lifted their price objective on Alcoa to $58.00 and gave the company a “buy” rating in a report on Friday, January 24th. Morgan Stanley cut their price target on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. BMO Capital Markets increased their price objective on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. boosted their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Finally, Jefferies Financial Group reduced their target price on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.55.

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.