Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 6,530 Shares of Alcoa Co. (NYSE:AA)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Alcoa Co. (NYSE:AA) by 8.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,237 shares of the industrial products company’s stock after purchasing an additional 6,530 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Alcoa were worth $2,926,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Alcoa by 21.1% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 69,928 shares of the industrial products company’s stock valued at $2,373,000 after acquiring an additional 12,183 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Alcoa by 2.6% in the second quarter. Rhumbline Advisers now owns 548,361 shares of the industrial products company’s stock valued at $18,606,000 after acquiring an additional 14,128 shares in the last quarter. Commerce Bank bought a new stake in shares of Alcoa in the second quarter valued at about $240,000. Monaco Asset Management SAM bought a new stake in shares of Alcoa in the second quarter valued at about $1,357,000. Finally, Zenyatta Capital Management LP raised its holdings in shares of Alcoa by 263.6% in the second quarter. Zenyatta Capital Management LP now owns 200,000 shares of the industrial products company’s stock valued at $6,786,000 after acquiring an additional 145,000 shares in the last quarter.

Alcoa Price Performance

Shares of AA stock opened at $26.22 on Monday. Alcoa Co. has a fifty-two week low of $23.07 and a fifty-two week high of $57.61. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of -5.32 and a beta of 2.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.83 and a current ratio of 1.66. The stock’s 50-day simple moving average is $26.59 and its 200-day simple moving average is $31.08.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 18th. The industrial products company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.01). Alcoa had a negative return on equity of 6.73% and a negative net margin of 8.24%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter in the previous year, the firm posted ($0.33) EPS. Alcoa’s revenue was down 8.7% on a year-over-year basis. As a group, equities analysts forecast that Alcoa Co. will post -2.39 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Tuesday, October 31st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Monday, October 30th. Alcoa’s dividend payout ratio (DPR) is -8.11%.

Analysts Set New Price Targets

Several equities analysts have issued reports on AA shares. Jefferies Financial Group cut their target price on Alcoa from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, October 4th. TheStreet lowered Alcoa from a “c-” rating to a “d+” rating in a research note on Thursday. B. Riley cut their target price on Alcoa from $34.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 20th. Bank of America lowered Alcoa from a “buy” rating to a “neutral” rating and cut their target price for the company from $35.00 to $25.00 in a research note on Monday, October 23rd. Finally, StockNews.com started coverage on Alcoa in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Alcoa has a consensus rating of “Hold” and an average price target of $31.59.

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 three segments: Bauxite, 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.