New York State Teachers Retirement System Purchases 10,972 Shares of Alcoa (NYSE:AA)

New York State Teachers Retirement System lifted its stake in Alcoa (NYSE:AA - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,129 shares of the industrial products company's stock after acquiring an additional 10,972 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of Alcoa worth $5,341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AA. Proficio Capital Partners LLC bought a new stake in Alcoa in the 4th quarter valued at $1,223,000. Smartleaf Asset Management LLC increased its holdings in Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock valued at $39,000 after buying an additional 393 shares during the period. SBI Securities Co. Ltd. bought a new stake in Alcoa in the 4th quarter valued at $29,000. Victory Capital Management Inc. increased its holdings in Alcoa by 96.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,065,125 shares of the industrial products company's stock valued at $40,240,000 after buying an additional 522,039 shares during the period. Finally, M&T Bank Corp increased its holdings in Alcoa by 16.6% in the 4th quarter. M&T Bank Corp now owns 26,437 shares of the industrial products company's stock valued at $999,000 after buying an additional 3,758 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays boosted their price target on shares of Alcoa to $31.00 and gave the company a "hold" rating in a report on Friday, May 16th. Bank of America restated an "underperform" rating and issued a $26.00 target price (down previously from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. UBS Group restated a "neutral" rating and issued a $31.00 target price on shares of Alcoa in a research note on Thursday, May 15th. JPMorgan Chase & Co. boosted their target price on shares of Alcoa from $25.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Finally, B. Riley restated a "buy" rating and issued a $38.00 target price (down previously from $43.00) on shares of Alcoa in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $42.33.

Alcoa Price Performance

NYSE AA traded down $0.33 on Friday, hitting $31.20. 3,040,872 shares of the company were exchanged, compared to its average volume of 5,672,929. The firm has a 50 day moving average of $27.96 and a two-hundred day moving average of $31.37. The company has a market cap of $8.08 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.19 and a beta of 2.25. 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 has a 1-year low of $21.53 and a 1-year high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.42. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.58 billion. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. On average, equities analysts predict that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.28%. Alcoa's dividend payout ratio is currently 12.05%.

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.