Alcoa Co. (NYSE:AA) Position Cut by California State Teachers Retirement System

California State Teachers Retirement System trimmed its holdings in Alcoa Co. (NYSE:AAFree Report) by 27.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,386 shares of the industrial products company’s stock after selling 76,544 shares during the quarter. California State Teachers Retirement System owned about 0.11% of Alcoa worth $5,794,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fairfield Bush & CO. bought a new position in Alcoa during the 1st quarter valued at $29,000. Neo Ivy Capital Management acquired a new stake in shares of Alcoa during the 2nd quarter valued at $27,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Alcoa during the 4th quarter valued at $32,000. ICA Group Wealth Management LLC acquired a new stake in shares of Alcoa during the 4th quarter valued at $36,000. Finally, FinTrust Capital Advisors LLC lifted its position in shares of Alcoa by 55.3% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,123 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 400 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. HSBC assumed coverage on Alcoa in a research report on Thursday, December 7th. They set a “hold” rating and a $29.00 price objective for the company. Morgan Stanley increased their price objective on Alcoa from $27.00 to $29.50 and gave the company an “underweight” rating in a research report on Thursday, January 18th. B. Riley cut their price objective on Alcoa from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, December 12th. TheStreet downgraded Alcoa from a “c-” rating to a “d+” rating in a research report on Thursday, November 16th. Finally, JPMorgan Chase & Co. increased their target price on Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Alcoa has a consensus rating of “Hold” and an average target price of $31.21.

Read Our Latest Research Report on AA

Alcoa Price Performance

Shares of NYSE:AA opened at $29.87 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. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of -8.18, a P/E/G ratio of 1.14 and a beta of 2.44. Alcoa Co. has a 1 year low of $23.07 and a 1 year high of $51.24. The business has a fifty day simple moving average of $28.87 and a 200 day simple moving average of $28.04.

Alcoa (NYSE:AAGet Free Report) last posted its earnings results on Wednesday, January 17th. The industrial products company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.29. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. Alcoa had a negative net margin of 6.17% and a negative return on equity of 6.56%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.70) earnings per share. As a group, sell-side analysts predict that Alcoa Co. will post 0.54 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Monday, March 4th. Alcoa’s dividend payout ratio is -10.96%.

About Alcoa

(Free Report)

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.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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