Teacher Retirement System of Texas Has $1.48 Million Stock Holdings in Alcoa $AA

Teacher Retirement System of Texas decreased its stake in Alcoa (NYSE:AA) by 19.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,860 shares of the industrial products company’s stock after selling 10,957 shares during the period. Teacher Retirement System of Texas’ holdings in Alcoa were worth $1,475,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AA. Root Financial Partners LLC bought a new position in Alcoa in the third quarter valued at approximately $29,000. IFP Advisors Inc boosted its holdings in shares of Alcoa by 1,096.0% in the 2nd quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock valued at $26,000 after buying an additional 822 shares during the last quarter. Horrell Capital Management Inc. bought a new position in shares of Alcoa in the second quarter valued at $30,000. Heartwood Wealth Advisors LLC bought a new stake in Alcoa during the third quarter worth $53,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Alcoa by 173.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 1,295 shares during the period.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AA shares. B. Riley reiterated a “buy” rating on shares of Alcoa in a research note on Friday, January 23rd. Wells Fargo & Company reduced their price objective on shares of Alcoa from $71.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. Morgan Stanley restated an “overweight” rating and set a $52.00 target price on shares of Alcoa in a research note on Monday, December 15th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $50.00 price target (up previously from $45.00) on shares of Alcoa in a research note on Thursday, January 8th. Finally, Citigroup raised their price objective on shares of Alcoa from $42.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Alcoa has a consensus rating of “Hold” and a consensus target price of $48.25.

Alcoa Stock Performance

Alcoa stock opened at $56.74 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.45 and a debt-to-equity ratio of 0.40. The stock has a market cap of $14.69 billion, a PE ratio of 12.84, a P/E/G ratio of 0.22 and a beta of 1.95. Alcoa has a 12-month low of $21.53 and a 12-month high of $66.95. The business’s 50-day moving average price is $53.23 and its two-hundred day moving average price is $40.42.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.95 by $0.31. The business had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.28 billion. Alcoa had a net margin of 9.12% and a return on equity of 16.18%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, analysts expect that Alcoa will post 4.43 earnings per share for the current fiscal year.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.