New York State Teachers Retirement System Increases Stock Position in Alcoa $AA

Key Points

• The New York State Teachers Retirement System increased its position in Alcoa by 23.3% during the 2nd quarter, now owning 216,004 shares valued at approximately $6.37 million.
• Alcoa recently declared a $0.10 quarterly dividend, representing an annualized payout of $0.40 and a yield of 1.1%.
• Wall Street analysts have mixed ratings for Alcoa, with an average rating of "Moderate Buy" and a consensus target price of $42.88.

New York State Teachers Retirement System raised its position in shares of Alcoa (NYSE:AA - Free Report) by 23.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 216,004 shares of the industrial products company's stock after buying an additional 40,875 shares during the period. New York State Teachers Retirement System owned about 0.08% of Alcoa worth $6,374,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in Alcoa by 61.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,914 shares of the industrial products company's stock valued at $516,000 after buying an additional 6,447 shares during the period. Public Employees Retirement System of Ohio boosted its position in Alcoa by 5.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 80,223 shares of the industrial products company's stock valued at $2,367,000 after buying an additional 4,255 shares during the period. Strs Ohio purchased a new stake in Alcoa during the 1st quarter valued at $841,000. GAMMA Investing LLC boosted its position in Alcoa by 58.8% during the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company's stock valued at $70,000 after buying an additional 851 shares during the period. Finally, Voya Investment Management LLC boosted its position in Alcoa by 4.3% during the 1st quarter. Voya Investment Management LLC now owns 1,176,886 shares of the industrial products company's stock valued at $35,895,000 after buying an additional 48,604 shares during the period.

Alcoa Stock Down 3.1%

Shares of Alcoa stock opened at $36.00 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.65 and a quick ratio of 0.97. The company has a 50-day moving average of $32.73 and a 200 day moving average of $29.59. The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 0.22 and a beta of 2.20. Alcoa has a 1 year low of $21.53 and a 1 year high of $47.77.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Tuesday, August 12th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, August 12th. Alcoa's dividend payout ratio (DPR) is presently 10.44%.

Wall Street Analysts Forecast Growth

AA has been the subject of several research analyst reports. Wall Street Zen cut shares of Alcoa from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Weiss Ratings raised shares of Alcoa from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, October 8th. UBS Group raised their target price on shares of Alcoa from $31.00 to $34.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. HSBC raised their target price on shares of Alcoa from $33.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Wells Fargo & Company initiated coverage on shares of Alcoa in a research report on Tuesday, October 7th. They issued an "overweight" rating and a $40.00 target price for the company. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Alcoa currently has an average rating of "Moderate Buy" and a consensus target price of $42.88.

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.

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