South Dakota Investment Council Takes Position in Alcoa (NYSE:AA)

South Dakota Investment Council purchased a new stake in Alcoa (NYSE:AA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 19,100 shares of the industrial products company's stock, valued at approximately $583,000.

Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. boosted its position in shares of Alcoa by 77.1% during the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock valued at $26,000 after buying an additional 296 shares during the period. Versant Capital Management Inc increased its stake in shares of Alcoa by 134.7% during the first quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock worth $28,000 after acquiring an additional 520 shares during the period. Point72 Hong Kong Ltd purchased a new position in Alcoa during the fourth quarter worth approximately $36,000. Continuum Advisory LLC grew its holdings in Alcoa by 30.7% during the 4th quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company's stock worth $56,000 after acquiring an additional 345 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Alcoa by 58.8% in the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company's stock valued at $70,000 after purchasing an additional 851 shares during the last quarter.

Alcoa Stock Up 2.0%

Shares of NYSE:AA opened at $30.95 on Tuesday. The stock has a fifty day simple moving average of $28.94 and a two-hundred day simple moving average of $30.78. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 0.18 and a beta of 2.25.

Alcoa (NYSE:AA - Get Free Report) last released its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.27%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period last year, the company posted $0.16 EPS. The business's revenue was up 3.9% on a year-over-year basis. On average, research analysts anticipate that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Tuesday, May 20th. Alcoa's dividend payout ratio (DPR) is presently 10.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AA shares. B. Riley lowered their target price on Alcoa from $38.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Citigroup upgraded Alcoa to a "buy" rating and set a $42.00 target price for the company in a report on Tuesday, July 8th. Wall Street Zen cut Alcoa from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Barclays lifted their price objective on Alcoa to $31.00 and gave the stock a "hold" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Alcoa from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $41.23.

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.

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