Louisiana State Employees Retirement System Takes Position in Alcoa $AA

Louisiana State Employees Retirement System acquired a new position in Alcoa (NYSE:AA) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 75,100 shares of the industrial products company’s stock, valued at approximately $4,981,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fairvoy Private Wealth LLC acquired a new stake in Alcoa in the 1st quarter worth $839,000. Kestra Private Wealth Services LLC raised its position in shares of Alcoa by 9.1% during the first quarter. Kestra Private Wealth Services LLC now owns 15,690 shares of the industrial products company’s stock valued at $1,041,000 after buying an additional 1,303 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of Alcoa by 201.0% in the first quarter. Ritholtz Wealth Management now owns 59,125 shares of the industrial products company’s stock valued at $3,922,000 after buying an additional 39,484 shares during the period. RFG Advisory LLC bought a new stake in shares of Alcoa in the first quarter valued at about $1,545,000. Finally, OP Asset Management Ltd acquired a new stake in Alcoa during the first quarter worth about $197,000.

Alcoa Trading Up 1.8%

AA opened at $54.04 on Friday. Alcoa has a 1-year low of $27.72 and a 1-year high of $84.38. The stock has a market capitalization of $14.26 billion, a PE ratio of 13.68 and a beta of 1.56. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $66.62 and a two-hundred day moving average price of $62.46.

Alcoa (NYSE:AA) last announced its earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the previous year, the company posted $2.15 earnings per share. Alcoa’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities analysts anticipate that Alcoa will post 7.54 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is 10.13%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Alcoa from $68.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Wall Street Zen lowered Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings upgraded Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. BMO Capital Markets upped their target price on Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. Finally, Citigroup raised their target price on Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $68.80.

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.