Retirement Systems of Alabama Purchases 316 Shares of Alcoa Co. (NYSE:AA)

Retirement Systems of Alabama raised its position in shares of Alcoa Co. (NYSE:AA) by 0.1% in the 4th quarter, Holdings Channel reports. The firm owned 314,138 shares of the industrial products company’s stock after acquiring an additional 316 shares during the period. Retirement Systems of Alabama’s holdings in Alcoa were worth $11,868,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of AA. Mountaineer Partners Management LLC lifted its position in shares of Alcoa by 4,023.0% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after buying an additional 10,534,036 shares during the last quarter. State Street Corp boosted its stake in shares of Alcoa by 23.3% in the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after purchasing an additional 1,805,915 shares in the last quarter. Paloma Partners Management Co grew its holdings in shares of Alcoa by 11,317.8% during the 3rd quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company’s stock valued at $55,084,000 after purchasing an additional 1,415,294 shares during the last quarter. Geode Capital Management LLC increased its position in Alcoa by 42.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock worth $161,838,000 after purchasing an additional 1,239,479 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. bought a new position in Alcoa in the 3rd quarter valued at approximately $36,165,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AA shares. Argus upgraded Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Wednesday, October 23rd. B. Riley upgraded Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Jefferies Financial Group reduced their price target on Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. raised their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Finally, StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.55.

Alcoa Trading Up 0.5 %

NYSE:AA opened at $36.12 on Friday. Alcoa Co. has a 52 week low of $24.86 and a 52 week high of $47.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. The firm’s fifty day moving average is $38.20 and its 200-day moving average is $37.50. The firm has a market cap of $9.33 billion, a P/E ratio of -225.77, a P/E/G ratio of 0.20 and a beta of 2.43.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Equities analysts expect that Alcoa Co. will post 4.43 earnings per share for the current year.

About Alcoa

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.