Alcoa Co. (NYSE:AA) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in shares of Alcoa Co. (NYSE:AA) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 247,045 shares of the industrial products company’s stock after selling 11,369 shares during the period. California Public Employees Retirement System’s holdings in Alcoa were worth $8,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Invesco Ltd. raised its position in shares of Alcoa by 7.4% during the 3rd quarter. Invesco Ltd. now owns 3,216,008 shares of the industrial products company’s stock worth $93,457,000 after purchasing an additional 222,884 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Alcoa during the 3rd quarter worth approximately $39,557,000. Charles Schwab Investment Management Inc. raised its position in shares of Alcoa by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,234,472 shares of the industrial products company’s stock worth $35,874,000 after purchasing an additional 54,876 shares during the last quarter. Douglas Lane & Associates LLC raised its position in shares of Alcoa by 16.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 1,197,317 shares of the industrial products company’s stock worth $40,709,000 after purchasing an additional 173,367 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Alcoa by 9.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 939,128 shares of the industrial products company’s stock worth $27,291,000 after purchasing an additional 80,916 shares during the last quarter.

Insider Buying and Selling

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

Alcoa Stock Up 2.3 %

Shares of Alcoa stock opened at $36.77 on Friday. The company has a fifty day moving average price of $32.72 and a 200 day moving average price of $29.61. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45. Alcoa Co. has a twelve month low of $23.07 and a twelve month high of $38.20. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of -9.78, a price-to-earnings-growth ratio of 3.51 and a beta of 2.45.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period last year, the company posted ($0.23) earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts forecast that Alcoa Co. will post 0.2 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were given 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 1.09%. Alcoa’s dividend payout ratio (DPR) is -10.64%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AA. StockNews.com downgraded Alcoa from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. JPMorgan Chase & Co. lifted their target price on shares of Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. B. Riley lifted their target price on shares of Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, April 18th. Morgan Stanley raised shares of Alcoa from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $28.50 to $36.50 in a research note on Monday, April 22nd. Finally, Jefferies Financial Group lifted their target price on shares of Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company 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.