New York State Common Retirement Fund Trims Stock Holdings in Alcoa $AA

New York State Common Retirement Fund lowered its stake in Alcoa (NYSE:AA) by 13.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 374,839 shares of the industrial products company’s stock after selling 57,994 shares during the quarter. New York State Common Retirement Fund owned about 0.14% of Alcoa worth $12,328,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Twin Capital Management Inc. lifted its holdings in shares of Alcoa by 1.8% in the 2nd quarter. Twin Capital Management Inc. now owns 19,137 shares of the industrial products company’s stock worth $565,000 after acquiring an additional 344 shares during the last quarter. Lesa Sroufe & Co raised its position in Alcoa by 0.5% in the third quarter. Lesa Sroufe & Co now owns 75,504 shares of the industrial products company’s stock valued at $2,483,000 after purchasing an additional 349 shares during the period. CWM LLC lifted its stake in Alcoa by 1.9% during the second quarter. CWM LLC now owns 18,628 shares of the industrial products company’s stock worth $550,000 after purchasing an additional 354 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Alcoa by 3.2% during the third quarter. Nisa Investment Advisors LLC now owns 11,581 shares of the industrial products company’s stock worth $381,000 after buying an additional 362 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in shares of Alcoa by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 72,800 shares of the industrial products company’s stock valued at $2,148,000 after buying an additional 400 shares in the last quarter.

Alcoa Trading Up 2.4%

NYSE AA opened at $58.17 on Tuesday. Alcoa has a 52 week low of $21.53 and a 52 week high of $66.95. The firm has a 50 day moving average of $53.62 and a two-hundred day moving average of $40.71. 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 capitalization of $15.06 billion, a PE ratio of 13.16 and a beta of 1.91.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Citigroup raised their target price on Alcoa from $42.00 to $54.00 and gave the company a “buy” rating in a report on Friday, December 19th. BMO Capital Markets raised their price objective on shares of Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. UBS Group upped their target price on shares of Alcoa from $42.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $50.00 price target (up previously from $45.00) on shares of Alcoa in a research report on Thursday, January 8th. Finally, Argus set a $45.00 price target on shares of Alcoa in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Alcoa presently has a consensus rating of “Hold” and an average price target of $48.25.

Alcoa Company Profile

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.