VIRGINIA RETIREMENT SYSTEMS ET Al Grows Stock Position in Alcoa $AA

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in Alcoa (NYSE:AA) by 63.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,000 shares of the industrial products company’s stock after acquiring an additional 17,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Alcoa were worth $1,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mackenzie Financial Corp lifted its stake in shares of Alcoa by 121.7% during the second quarter. Mackenzie Financial Corp now owns 1,569,358 shares of the industrial products company’s stock valued at $46,312,000 after buying an additional 861,383 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Alcoa by 5.6% in 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 acquiring an additional 4,255 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Alcoa by 455.9% during the 3rd quarter. Pacer Advisors Inc. now owns 62,982 shares of the industrial products company’s stock worth $2,071,000 after purchasing an additional 51,652 shares during the period. Strs Ohio purchased a new position in shares of Alcoa during the 1st quarter worth $841,000. Finally, Drummond Knight Asset Management Pty Ltd acquired a new stake in shares of Alcoa during the second quarter worth $44,893,000.

Alcoa Stock Up 6.3%

AA opened at $56.50 on Friday. The firm has a 50 day moving average price of $43.38 and a 200 day moving average price of $35.86. The company has a market cap of $14.63 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 0.21 and a beta of 1.95. Alcoa has a 1 year low of $21.53 and a 1 year high of $56.61. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 1.56.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.13. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the previous year, the company posted $0.57 earnings per share. Alcoa’s revenue was up 3.1% compared to the same quarter last year. Sell-side analysts expect that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Tuesday, November 4th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, November 4th. Alcoa’s dividend payout ratio is 9.24%.

Analysts Set New Price Targets

Several research firms recently weighed in on AA. Citigroup increased their target price on Alcoa from $42.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. BMO Capital Markets increased their price objective on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. B. Riley raised their target price on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a research report on Monday. Finally, HSBC increased their price target on shares of Alcoa from $33.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $47.15.

Alcoa Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.