New York State Common Retirement Fund Purchases 174,187 Shares of Alcoa Co. (NYSE:AA)

New York State Common Retirement Fund increased its stake in Alcoa Co. (NYSE:AAFree Report) by 62.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 453,973 shares of the industrial products company’s stock after purchasing an additional 174,187 shares during the period. New York State Common Retirement Fund’s holdings in Alcoa were worth $13,192,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AA. Fairfield Bush & CO. bought a new position in Alcoa in the 1st quarter worth approximately $29,000. US Bancorp DE grew its holdings in Alcoa by 4.9% during the 1st quarter. US Bancorp DE now owns 9,359 shares of the industrial products company’s stock worth $842,000 after acquiring an additional 434 shares during the period. Acadian Asset Management LLC acquired a new stake in Alcoa during the 1st quarter worth $435,000. Great West Life Assurance Co. Can grew its holdings in Alcoa by 8.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 108,717 shares of the industrial products company’s stock worth $10,089,000 after acquiring an additional 8,028 shares during the period. Finally, Blair William & Co. IL acquired a new stake in Alcoa during the 1st quarter worth $242,000.

Wall Street Analyst Weigh In

A number of analysts have commented on AA shares. TheStreet lowered shares of Alcoa from a “c-” rating to a “d+” rating in a report on Thursday, November 16th. Morgan Stanley boosted their price target on shares of Alcoa from $27.00 to $29.50 and gave the company an “underweight” rating in a report on Thursday, January 18th. B. Riley Financial decreased their price target on shares of Alcoa from $34.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 20th. Bank of America boosted their price target on shares of Alcoa from $28.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 21st. Finally, B. Riley cut their price objective on shares of Alcoa from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 12th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Alcoa has an average rating of “Hold” and a consensus target price of $31.21.

View Our Latest Report on AA

Alcoa Stock Up 2.9 %

Shares of AA stock opened at $27.63 on Wednesday. The firm’s 50-day moving average is $29.69 and its 200-day moving average is $28.87. Alcoa Co. has a 52-week low of $23.07 and a 52-week high of $55.74. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.74 and a current ratio of 1.45. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of -7.57, a PEG ratio of 1.34 and a beta of 2.49.

Alcoa (NYSE:AAGet Free Report) last issued its quarterly earnings results on Wednesday, January 17th. The industrial products company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.29. Alcoa had a negative net margin of 6.17% and a negative return on equity of 6.56%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the prior year, the firm posted ($0.70) EPS. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. Sell-side analysts predict that Alcoa Co. will post 0.56 EPS for the current year.

Alcoa Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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