Public Employees Retirement System of Ohio Purchases 4,255 Shares of Alcoa $AA

Public Employees Retirement System of Ohio increased its position in shares of Alcoa (NYSE:AA) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,223 shares of the industrial products company’s stock after acquiring an additional 4,255 shares during the period. Public Employees Retirement System of Ohio’s holdings in Alcoa were worth $2,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AA. Dimensional Fund Advisors LP increased its holdings in shares of Alcoa by 33.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,803,086 shares of the industrial products company’s stock worth $207,490,000 after buying an additional 1,721,222 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Alcoa by 0.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,899,066 shares of the industrial products company’s stock worth $57,922,000 after buying an additional 6,832 shares during the last quarter. L1 Capital Pty Ltd bought a new position in shares of Alcoa in the 1st quarter worth $52,675,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Alcoa by 39.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,714,733 shares of the industrial products company’s stock worth $52,300,000 after buying an additional 482,936 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd increased its holdings in shares of Alcoa by 2.2% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 1,687,529 shares of the industrial products company’s stock worth $51,474,000 after buying an additional 36,520 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Alcoa Trading Up 3.0%

Shares of AA opened at $34.88 on Friday. The stock has a market capitalization of $9.03 billion, a P/E ratio of 9.11, a PEG ratio of 0.21 and a beta of 2.20. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $31.42 and a two-hundred day simple moving average of $29.36. Alcoa has a twelve month low of $21.53 and a twelve month high of $47.77.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 EPS. On average, research analysts anticipate that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, August 12th. Alcoa’s dividend payout ratio (DPR) is currently 10.44%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. B. Riley increased their price target on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Morgan Stanley decreased their price target on shares of Alcoa from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Citigroup raised shares of Alcoa to a “buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, July 8th. Wall Street Zen cut shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. 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. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Alcoa presently has a consensus rating of “Hold” and an average target price of $42.27.

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.