Teacher Retirement System of Texas Has $1.80 Million Holdings in Alcoa (NYSE:AA)

Teacher Retirement System of Texas increased its position in shares of Alcoa (NYSE:AA - Free Report) by 225.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,130 shares of the industrial products company's stock after acquiring an additional 40,967 shares during the quarter. Teacher Retirement System of Texas' holdings in Alcoa were worth $1,803,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Alcoa by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company's stock worth $981,491,000 after buying an additional 165,420 shares during the period. Norges Bank acquired a new stake in Alcoa during the 4th quarter worth approximately $259,273,000. Geode Capital Management LLC raised its holdings in Alcoa by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company's stock worth $159,966,000 after buying an additional 39,022 shares during the period. Northern Trust Corp raised its holdings in Alcoa by 46.8% during the 4th quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company's stock worth $96,324,000 after buying an additional 813,214 shares during the period. Finally, Sourcerock Group LLC raised its holdings in Alcoa by 319.1% during the 4th quarter. Sourcerock Group LLC now owns 1,978,009 shares of the industrial products company's stock worth $74,729,000 after buying an additional 1,506,009 shares during the period. Institutional investors own 82.39% of the company's stock.

Alcoa Stock Performance

Shares of NYSE:AA traded down $1.29 on Monday, hitting $29.80. The company had a trading volume of 7,736,186 shares, compared to its average volume of 5,676,869. Alcoa has a 1-year low of $21.53 and a 1-year high of $47.77. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 8.98, a P/E/G ratio of 0.19 and a beta of 2.25. The stock has a 50 day moving average price of $28.52 and a 200 day moving average price of $31.07. The company has a current ratio of 1.71, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.73 by $0.42. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.58 billion. Analysts expect that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were issued a $0.10 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.34%. Alcoa's dividend payout ratio is currently 12.05%.

Wall Street Analysts Forecast Growth

AA has been the topic of several research analyst reports. B. Riley restated a "buy" rating and set a $38.00 target price (down from $43.00) on shares of Alcoa in a report on Tuesday, June 24th. Barclays lifted their price objective on shares of Alcoa to $31.00 and gave the company a "hold" rating in a report on Friday, May 16th. Citigroup upgraded shares of Alcoa to a "buy" rating and set a $42.00 price objective on the stock in a report on Tuesday, July 8th. UBS Group reiterated a "neutral" rating and issued a $31.00 price objective on shares of Alcoa in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Alcoa from $25.00 to $28.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $42.31.

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.