Alcoa (NYSE:AA) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its stake in Alcoa (NYSE:AA - Free Report) by 225.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,130 shares of the industrial products company's stock after buying 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 filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new position in shares of Alcoa during the 4th quarter worth $29,000. Proficio Capital Partners LLC purchased a new position in shares of Alcoa during the 4th quarter worth about $1,223,000. Raymond James Financial Inc. purchased a new position in shares of Alcoa during the 4th quarter worth about $1,639,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Alcoa by 38.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,050 shares of the industrial products company's stock worth $3,667,000 after acquiring an additional 27,080 shares during the period. Finally, Wealthfront Advisers LLC purchased a new position in shares of Alcoa during the 4th quarter worth about $1,154,000. Hedge funds and other institutional investors own 82.39% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AA. Barclays increased their price objective on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a report on Friday, May 16th. Bank of America reaffirmed an "underperform" rating and issued a $26.00 target price (down from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. Wall Street Zen lowered Alcoa from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Citigroup raised Alcoa to a "buy" rating and set a $42.00 target price on the stock in a research report on Tuesday. Finally, UBS Group reaffirmed a "neutral" rating and issued a $31.00 target price on shares of Alcoa in a research report on Thursday, May 15th. 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $42.31.

Alcoa Stock Down 1.4%

Shares of AA traded down $0.45 during mid-day trading on Friday, reaching $31.12. 4,419,433 shares of the stock traded hands, compared to its average volume of 5,677,870. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 0.19 and a beta of 2.25. The stock has a fifty day simple moving average of $28.41 and a 200 day simple moving average of $31.22. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77. The company has a quick ratio of 1.00, a current ratio of 1.71 and a debt-to-equity ratio of 0.43.

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

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Tuesday, May 20th. Alcoa's payout ratio is 12.05%.

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.