State of Alaska Department of Revenue Sells 1,160 Shares of Alcoa $AA

State of Alaska Department of Revenue cut its holdings in Alcoa (NYSE:AA) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,115 shares of the industrial products company’s stock after selling 1,160 shares during the period. State of Alaska Department of Revenue’s holdings in Alcoa were worth $859,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Montag A & Associates Inc. purchased a new stake in Alcoa in the 1st quarter worth approximately $40,000. Quarry LP purchased a new stake in Alcoa in the 1st quarter worth approximately $57,000. GAMMA Investing LLC lifted its stake in Alcoa by 58.8% in the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 851 shares in the last quarter. Banque Transatlantique SA purchased a new stake in Alcoa in the 1st quarter worth approximately $74,000. Finally, UMB Bank n.a. lifted its stake in Alcoa by 109.9% in the 1st quarter. UMB Bank n.a. now owns 2,855 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 1,495 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AA shares. UBS Group increased their target price on shares of Alcoa from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Alcoa in a research note on Saturday, September 27th. Wall Street Zen cut shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. Bank of America increased their target price on shares of Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Alcoa from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, July 17th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Alcoa currently has a consensus rating of “Hold” and an average price target of $42.27.

Alcoa Price Performance

Shares of NYSE:AA opened at $33.79 on Tuesday. The stock has a market cap of $8.75 billion, a PE ratio of 8.82, a PEG ratio of 0.21 and a beta of 2.20. The company’s fifty day moving average is $31.56 and its 200 day moving average is $29.28. Alcoa has a 52 week low of $21.53 and a 52 week high of $47.77. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.41.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The company had revenue of $3.02 billion for 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 was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 EPS. Research analysts anticipate that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Tuesday, August 12th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, August 12th. Alcoa’s dividend payout ratio (DPR) is presently 10.44%.

Alcoa 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.