Alcoa Co. (NYSE:AA) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its holdings in shares of Alcoa Co. (NYSE:AA) by 27.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,459 shares of the industrial products company’s stock after acquiring an additional 17,974 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Alcoa were worth $3,258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AA. Quadrature Capital Ltd acquired a new stake in Alcoa during the 1st quarter valued at approximately $593,000. Douglas Lane & Associates LLC increased its stake in shares of Alcoa by 2.0% in the third quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock worth $54,859,000 after buying an additional 27,217 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in Alcoa in the second quarter valued at $706,000. Van ECK Associates Corp raised its holdings in Alcoa by 43.4% in the third quarter. Van ECK Associates Corp now owns 271,276 shares of the industrial products company’s stock valued at $11,361,000 after acquiring an additional 82,073 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Alcoa by 536.7% during the 2nd quarter. Blue Trust Inc. now owns 2,878 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 2,426 shares during the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AA. JPMorgan Chase & Co. boosted their target price on shares of Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley upped their price objective on Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. B. Riley Financial reissued a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. Finally, BMO Capital Markets lifted their price objective on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.75.

Alcoa Stock Down 5.9 %

AA stock opened at $40.95 on Wednesday. The stock has a market cap of $10.58 billion, a PE ratio of -23.27, a price-to-earnings-growth ratio of 0.85 and a beta of 2.42. The firm’s 50-day simple moving average is $38.21 and its 200 day simple moving average is $37.51. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $46.55. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.23 by $0.34. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. Alcoa’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned ($1.14) earnings per share. As a group, sell-side analysts predict that Alcoa Co. will post 0.89 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.98%. Alcoa’s dividend payout ratio (DPR) is presently -22.73%.

Insider Transactions at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total value of $1,009,335.43. Following the completion of the sale, the executive vice president now owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.08% of the company’s stock.

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.