South Dakota Investment Council Has $882,000 Stock Holdings in Alcoa $AA

South Dakota Investment Council decreased its holdings in Alcoa (NYSE:AA) by 78.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,304 shares of the industrial products company’s stock after selling 49,079 shares during the period. South Dakota Investment Council’s holdings in Alcoa were worth $882,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Basepoint Wealth LLC acquired a new stake in shares of Alcoa during the 4th quarter valued at $25,000. Raleigh Capital Management Inc. increased its stake in shares of Alcoa by 52,500.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 525 shares during the last quarter. CoreCap Advisors LLC increased its stake in shares of Alcoa by 74.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 237 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 581 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Alcoa by 96.0% during the fourth quarter. Quarry LP now owns 694 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 340 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AA has been the topic of a number of recent research reports. BMO Capital Markets lowered their target price on Alcoa from $60.00 to $55.00 and set a “market perform” rating on the stock in a research note on Friday, July 17th. Zacks Research downgraded Alcoa from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Bank of America reduced their price target on Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a report on Thursday, July 9th. Argus lowered their price target on Alcoa from $73.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $53.00 price objective (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Alcoa currently has a consensus rating of “Hold” and an average target price of $61.09.

Alcoa Trading Up 0.7%

Alcoa stock opened at $45.31 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. The company has a market capitalization of $11.96 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 0.51 and a beta of 1.63. Alcoa has a one year low of $28.11 and a one year high of $84.38. The company’s fifty day moving average price is $57.44 and its two-hundred day moving average price is $61.49.

Alcoa (NYSE:AA) last posted its earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.13). The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same quarter last year, the firm posted $0.39 earnings per share. On average, analysts forecast that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Alcoa’s dividend payout ratio (DPR) is currently 8.23%.

Alcoa Company 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.