Alcoa Inc. (AA) Stake Boosted by Retirement Systems of Alabama
Retirement Systems of Alabama boosted its position in Alcoa Inc. (NYSE:AA) by 41.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,555,399 shares of the company’s stock after buying an additional 457,196 shares during the period. Retirement Systems of Alabama owned about 0.12% of Alcoa worth $14,419,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mn Services Vermogensbeheer B.V. bought a new stake in Alcoa during the first quarter valued at $273,000. CIBC World Markets Inc. bought a new stake in Alcoa during the first quarter valued at $278,000. Ngam Advisors L.P. raised its stake in Alcoa by 16.6% in the first quarter. Ngam Advisors L.P. now owns 157,575 shares of the company’s stock valued at $1,510,000 after buying an additional 22,423 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Alcoa by 39.7% in the first quarter. TIAA CREF Investment Management LLC now owns 5,002,753 shares of the company’s stock valued at $47,926,000 after buying an additional 1,421,744 shares in the last quarter. Finally, Teachers Advisors Inc. raised its stake in Alcoa by 158.4% in the first quarter. Teachers Advisors Inc. now owns 4,125,218 shares of the company’s stock valued at $39,520,000 after buying an additional 2,528,804 shares in the last quarter.
Alcoa Inc. (NYSE:AA) traded up 1.81% during midday trading on Friday, reaching $10.14. 22,888,915 shares of the company’s stock traded hands. The stock’s market cap is $13.34 billion. The stock’s 50 day moving average price is $9.97 and its 200-day moving average price is $9.92. Alcoa Inc. has a one year low of $6.14 and a one year high of $11.50.
Alcoa (NYSE:AA) last issued its quarterly earnings results on Monday, July 11th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. Alcoa had a positive return on equity of 3.44% and a negative net margin of 1.45%. The firm earned $5.30 billion during the quarter. During the same quarter in the previous year, the business earned $0.19 earnings per share. Alcoa’s revenue was down 10.2% compared to the same quarter last year. Equities analysts predict that Alcoa Inc. will post $0.44 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 4th will be issued a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $0.12 annualized dividend and a dividend yield of 1.18%. Alcoa’s payout ratio is presently -42.86%.
Several analysts have recently weighed in on AA shares. Macquarie reiterated a “buy” rating on shares of Alcoa in a research note on Tuesday, July 12th. Credit Suisse Group AG restated a “buy” rating on shares of Alcoa in a research note on Thursday, June 30th. BMO Capital Markets restated a “hold” rating and set a $9.00 price target on shares of Alcoa in a research note on Tuesday, July 12th. Berenberg Bank restated a “hold” rating and set a $9.00 price target on shares of Alcoa in a research note on Tuesday, June 14th. Finally, Rosenblatt Securities restated a “buy” rating and set a $15.00 price target on shares of Alcoa in a research note on Friday, July 15th. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $11.11.
In related news, Director Ulrich Schmidt purchased 5,000 shares of Alcoa stock in a transaction dated Wednesday, July 20th. The stock was purchased at an average cost of $10.40 per share, for a total transaction of $52,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $104,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
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