New York State Common Retirement Fund Has $14.74 Million Stock Position in Alcoa Co. (NYSE:AA)

New York State Common Retirement Fund decreased its position in shares of Alcoa Co. (NYSE:AA) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 433,421 shares of the industrial products company’s stock after selling 20,552 shares during the quarter. New York State Common Retirement Fund’s holdings in Alcoa were worth $14,736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new stake in shares of Alcoa during the third quarter valued at about $39,557,000. Raymond James & Associates grew its holdings in Alcoa by 3,731.1% during the 4th quarter. Raymond James & Associates now owns 799,705 shares of the industrial products company’s stock worth $27,190,000 after acquiring an additional 778,831 shares during the last quarter. Monaco Asset Management SAM increased its position in Alcoa by 1,362.5% in the 3rd quarter. Monaco Asset Management SAM now owns 585,000 shares of the industrial products company’s stock valued at $17,000,000 after acquiring an additional 545,000 shares during the period. Invesco Ltd. raised its stake in shares of Alcoa by 7.4% during the third quarter. Invesco Ltd. now owns 3,216,008 shares of the industrial products company’s stock valued at $93,457,000 after acquiring an additional 222,884 shares during the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Alcoa by 609.1% during the third quarter. Algert Global LLC now owns 226,844 shares of the industrial products company’s stock worth $6,592,000 after purchasing an additional 194,854 shares during the period.

Insiders Place Their Bets

In related news, EVP Tammi A. Jones sold 26,468 shares of Alcoa stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the transaction, the executive vice president now owns 41,166 shares of the company’s stock, valued at $1,267,089.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Alcoa Trading Up 2.1 %

NYSE AA opened at $37.66 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.45. Alcoa Co. has a 52 week low of $23.07 and a 52 week high of $38.20. The business has a 50 day moving average price of $32.26 and a 200-day moving average price of $29.47. The company has a market cap of $6.76 billion, a price-to-earnings ratio of -10.02, a P/E/G ratio of 3.78 and a beta of 2.47.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.23) EPS. As a group, equities analysts expect that Alcoa Co. will post 0.2 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.06%. Alcoa’s dividend payout ratio (DPR) is currently -10.64%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AA shares. JPMorgan Chase & Co. raised their target price on Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. B. Riley increased their target price on shares of Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. Bank of America boosted their price target on shares of Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. UBS Group increased their price objective on shares of Alcoa from $27.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, April 19th. Finally, StockNews.com cut shares of Alcoa from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $33.54.

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.