Alcoa Co. (NYSE:AA) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in Alcoa Co. (NYSE:AA - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 433,421 shares of the industrial products company's stock after selling 20,552 shares during the quarter. New York State Common Retirement Fund owned approximately 0.24% of Alcoa worth $14,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AA. Daiwa Securities Group Inc. grew its position in shares of Alcoa by 1.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 26,485 shares of the industrial products company's stock valued at $900,000 after purchasing an additional 338 shares in the last quarter. Quent Capital LLC boosted its stake in Alcoa by 64.2% during the fourth quarter. Quent Capital LLC now owns 990 shares of the industrial products company's stock valued at $34,000 after buying an additional 387 shares during the last quarter. Raymond James & Associates grew its holdings in Alcoa by 2.5% during the 3rd quarter. Raymond James & Associates now owns 20,874 shares of the industrial products company's stock valued at $607,000 after buying an additional 501 shares in the last quarter. CWM LLC increased its stake in Alcoa by 39.4% in the 4th quarter. CWM LLC now owns 2,723 shares of the industrial products company's stock worth $93,000 after acquiring an additional 769 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Alcoa by 3.1% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 26,826 shares of the industrial products company's stock worth $780,000 after acquiring an additional 813 shares in the last quarter.

Analysts Set New Price Targets

AA has been the subject of several analyst reports. BMO Capital Markets raised their target price on shares of Alcoa from $35.00 to $37.00 and gave the stock a "market perform" rating in a report on Thursday, April 18th. UBS Group boosted their target price on Alcoa from $27.00 to $32.00 and gave the company a "sell" rating in a research report on Friday, April 19th. Jefferies Financial Group increased their price target on Alcoa from $45.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, April 18th. StockNews.com cut Alcoa from a "hold" rating to a "sell" rating in a report on Friday, April 19th. Finally, Bank of America increased their target price on Alcoa from $31.00 to $32.00 and gave the stock a "neutral" rating in a research note on Monday, March 18th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $33.54.

Alcoa Trading Down 6.7 %

Alcoa stock traded down $2.51 during trading on Tuesday, hitting $35.14. The company had a trading volume of 7,988,145 shares, compared to its average volume of 6,454,769. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45. The company's 50 day simple moving average is $32.26 and its 200-day simple moving average is $29.47. Alcoa Co. has a 1-year low of $23.07 and a 1-year high of $38.20. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of -9.35, a price-to-earnings-growth ratio of 3.78 and a beta of 2.47.

Alcoa (NYSE:AA - Get Free Report) last released its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.19). Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the firm earned ($0.23) earnings per share. The business's revenue was down 2.7% compared to the same quarter last year. As a group, analysts expect that Alcoa Co. will post 0.2 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Monday, March 4th. Alcoa's dividend payout ratio is currently -10.64%.

Insider Transactions at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total value of $814,685.04. Following the sale, the executive vice president now directly owns 41,166 shares of the company's stock, valued at approximately $1,267,089.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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.