New York State Teachers Retirement System Reduces Stock Position in Alcoa Co. (NYSE:AA)

New York State Teachers Retirement System lowered its position in shares of Alcoa Co. (NYSE:AA) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,300 shares of the industrial products company’s stock after selling 500 shares during the period. New York State Teachers Retirement System owned about 0.09% of Alcoa worth $5,212,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AA. Neo Ivy Capital Management purchased a new stake in shares of Alcoa in the 2nd quarter worth about $27,000. Fairfield Bush & CO. purchased a new stake in shares of Alcoa in the 1st quarter worth about $29,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Alcoa in the 4th quarter worth about $32,000. Quent Capital LLC lifted its position in shares of Alcoa by 64.2% in the 4th quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 387 shares during the period. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Alcoa in the 4th quarter worth about $36,000.

Insider Transactions at Alcoa

In other news, EVP Tammi A. Jones sold 26,468 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total value of $814,685.04. Following the transaction, the executive vice president now owns 41,166 shares of the company’s stock, valued at $1,267,089.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Morgan Stanley increased their price target on shares of Alcoa from $27.00 to $29.50 and gave the stock an “underweight” rating in a research note on Thursday, January 18th. JPMorgan Chase & Co. increased their price target on shares of Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Bank of America increased their price target on shares of Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. Finally, UBS Group started coverage on shares of Alcoa in a research note on Tuesday, January 16th. They issued a “sell” rating and a $29.00 price target for the company. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.88.

Alcoa Stock Performance

AA opened at $35.20 on Friday. The company has a current ratio of 1.45, a quick ratio of 0.74 and a debt-to-equity ratio of 0.30. Alcoa Co. has a 12-month low of $23.07 and a 12-month high of $42.23. The company has a market cap of $6.32 billion, a price-to-earnings ratio of -9.64, a PEG ratio of 2.46 and a beta of 2.47. The company’s 50 day moving average is $30.29 and its 200 day moving average is $28.80.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, January 17th. The industrial products company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.29. Alcoa had a negative net margin of 6.17% and a negative return on equity of 6.56%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the previous year, the firm earned ($0.70) earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities research analysts predict that Alcoa Co. will post 0.31 EPS for the current year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Monday, March 4th. Alcoa’s dividend payout ratio is currently -10.96%.

Alcoa Profile

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 two segments, 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.