State of New Jersey Common Pension Fund D Has $2.65 Million Position in Alcoa $AA

State of New Jersey Common Pension Fund D lowered its position in Alcoa (NYSE:AA) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,637 shares of the industrial products company’s stock after selling 4,104 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Alcoa were worth $2,645,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Alcoa by 58.8% during the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company’s stock worth $70,000 after buying an additional 851 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Alcoa by 61.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,914 shares of the industrial products company’s stock worth $516,000 after purchasing an additional 6,447 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Alcoa by 10.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 19,087 shares of the industrial products company’s stock worth $582,000 after purchasing an additional 1,831 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Alcoa by 21.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,671 shares of the industrial products company’s stock worth $722,000 after purchasing an additional 4,157 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in Alcoa in the 1st quarter worth about $331,000.

Alcoa Stock Performance

Shares of AA stock opened at $39.31 on Wednesday. The firm has a market capitalization of $10.18 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 0.23 and a beta of 2.20. The firm has a fifty day simple moving average of $33.85 and a two-hundred day simple moving average of $30.29. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. Alcoa has a 12 month low of $21.53 and a 12 month high of $47.77.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.13. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.03 billion. Alcoa had a net margin of 8.91% and a return on equity of 15.91%. Alcoa’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 EPS. Analysts forecast that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Tuesday, November 4th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. Alcoa’s dividend payout ratio is presently 9.24%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. BMO Capital Markets raised their target price on shares of Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. UBS Group raised their target price on shares of Alcoa from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, September 19th. Citigroup raised shares of Alcoa to a “buy” rating and set a $42.00 target price on the stock in a report on Tuesday, July 8th. Bank of America lifted their price target on shares of Alcoa from $26.00 to $27.00 and gave the company an “underperform” rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alcoa from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Alcoa has a consensus rating of “Hold” and a consensus price target of $42.13.

Alcoa Company 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.