Teachers Retirement System of The State of Kentucky Has $2.34 Million Stock Position in Alcoa Co. (NYSE:AA)

Teachers Retirement System of The State of Kentucky grew its holdings in shares of Alcoa Co. (NYSE:AAGet Rating) by 57.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,000 shares of the industrial products company’s stock after buying an additional 9,443 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Alcoa were worth $2,341,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AA. Hanseatic Management Services Inc. bought a new position in shares of Alcoa during the first quarter valued at about $25,000. Fairfield Bush & CO. bought a new position in shares of Alcoa during the first quarter valued at about $29,000. Cullen Frost Bankers Inc. bought a new position in shares of Alcoa during the first quarter valued at about $45,000. Dupont Capital Management Corp bought a new position in shares of Alcoa during the first quarter valued at about $58,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Alcoa by 94.3% during the first quarter. Quadrant Capital Group LLC now owns 756 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 367 shares in the last quarter.

Alcoa Price Performance

Shares of NYSE:AA opened at $43.53 on Wednesday. The company has a 50 day moving average of $48.92 and a 200 day moving average of $61.00. The stock has a market cap of $7.83 billion, a P/E ratio of 8.55, a P/E/G ratio of 0.61 and a beta of 2.31. Alcoa Co. has a 12 month low of $39.56 and a 12 month high of $98.09. The company has a current ratio of 1.81, a quick ratio of 1.02 and a debt-to-equity ratio of 0.24.

Alcoa (NYSE:AAGet Rating) last issued its quarterly earnings data on Wednesday, July 20th. The industrial products company reported $2.67 EPS for the quarter, missing the consensus estimate of $3.71 by ($1.04). The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Alcoa had a net margin of 7.19% and a return on equity of 30.66%. Alcoa’s revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.49 EPS. As a group, sell-side analysts forecast that Alcoa Co. will post 7.16 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Tuesday, August 9th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, August 8th. This represents a $0.40 annualized dividend and a yield of 0.92%. Alcoa’s dividend payout ratio is currently 7.86%.

Analyst Ratings Changes

Several brokerages have commented on AA. BMO Capital Markets lowered their price objective on shares of Alcoa from $57.00 to $55.00 in a research report on Thursday, July 21st. Morgan Stanley raised shares of Alcoa from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $51.00 to $66.00 in a research report on Friday, September 16th. B. Riley lowered their price objective on shares of Alcoa from $84.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 28th. Credit Suisse Group lowered their price objective on shares of Alcoa from $82.00 to $63.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 19th. Finally, The Goldman Sachs Group lowered their price objective on shares of Alcoa from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, July 22nd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alcoa presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Alcoa Company Profile

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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 three segments: Bauxite, 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.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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