New York State Common Retirement Fund Sells 7,496 Shares of Alcoa Co. (NYSE:AA)

New York State Common Retirement Fund lessened its position in shares of Alcoa Co. (NYSE:AA) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 431,837 shares of the industrial products company’s stock after selling 7,496 shares during the period. New York State Common Retirement Fund’s holdings in Alcoa were worth $16,315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Retirement Systems of Alabama increased its position in Alcoa by 41.6% during the 3rd quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock worth $12,107,000 after purchasing an additional 92,201 shares in the last quarter. ING Groep NV acquired a new position in shares of Alcoa during the third quarter worth $10,201,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Alcoa by 6.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,116 shares of the industrial products company’s stock valued at $24,233,000 after acquiring an additional 36,869 shares during the last quarter. Aigen Investment Management LP boosted its holdings in shares of Alcoa by 73.0% during the 3rd quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock valued at $1,422,000 after acquiring an additional 15,546 shares in the last quarter. Finally, Mountaineer Partners Management LLC grew its position in Alcoa by 4,023.0% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after acquiring an additional 10,534,036 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Price Performance

AA stock opened at $34.40 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The company’s fifty day simple moving average is $36.93 and its 200 day simple moving average is $37.92. Alcoa Co. has a 12-month low of $24.86 and a 12-month high of $47.77. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of -214.98, a PEG ratio of 0.21 and a beta of 2.43.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, analysts expect that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Tuesday, March 4th. Alcoa’s dividend payout ratio (DPR) is -250.00%.

Wall Street Analyst Weigh In

Several research firms have commented on AA. Bank of America increased their target price on Alcoa to $58.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Jefferies Financial Group cut their target price on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley reduced their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. B. Riley raised shares of Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, BMO Capital Markets boosted their price objective on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.55.

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 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.