North Dakota State Investment Board Makes New $483,000 Investment in Alcoa $AA

North Dakota State Investment Board acquired a new position in Alcoa (NYSE:AA) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 9,091 shares of the industrial products company’s stock, valued at approximately $483,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raleigh Capital Management Inc. raised its stake in Alcoa by 52,500.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 525 shares in the last quarter. CoreCap Advisors LLC raised its stake in Alcoa by 74.1% in the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 237 shares in the last quarter. Hilltop National Bank acquired a new stake in Alcoa in the 4th quarter worth about $40,000. True Wealth Design LLC raised its stake in Alcoa by 2,281.3% in the 4th quarter. True Wealth Design LLC now owns 762 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 730 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Alcoa in the 3rd quarter worth about $27,000.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AA shares. Weiss Ratings upgraded shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Morgan Stanley upgraded shares of Alcoa from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $64.00 to $80.00 in a research note on Thursday, April 9th. B. Riley Financial lifted their price objective on shares of Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Citigroup lifted their price objective on shares of Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Finally, Wells Fargo & Company set a $68.00 target price on shares of Alcoa in a research report on Thursday, March 12th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Alcoa presently has a consensus rating of “Hold” and an average target price of $68.60.

Alcoa Price Performance

Shares of NYSE:AA opened at $71.43 on Friday. The firm has a 50 day moving average of $65.74 and a 200-day moving average of $57.42. The stock has a market capitalization of $18.85 billion, a PE ratio of 18.08 and a beta of 1.51. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. Alcoa has a 12 month low of $25.83 and a 12 month high of $75.70.

Alcoa (NYSE:AA) last issued its earnings results on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.20). The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. Alcoa’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.15 earnings per share. On average, equities research analysts predict that Alcoa will post 7.95 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th will be given a $0.10 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. Alcoa’s payout ratio is presently 10.13%.

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.