State Treasurer State of Michigan raised its position in Alcoa Inc. (NYSE:AA) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 459,018 shares of the company’s stock after buying an additional 2,200 shares during the period. State Treasurer State of Michigan owned about 0.10% of Alcoa worth $4,654,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of AA. Ardsley Advisory Partners purchased a new position in shares of Alcoa during the third quarter valued at about $101,000. AXA purchased a new position in shares of Alcoa during the first quarter valued at about $115,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of Alcoa during the second quarter valued at about $121,000. Savant Capital LLC raised its position in shares of Alcoa by 21.9% in the second quarter. Savant Capital LLC now owns 13,125 shares of the company’s stock valued at $122,000 after buying an additional 2,360 shares in the last quarter. Finally, TRUE Private Wealth Advisors raised its position in shares of Alcoa by 18.3% in the second quarter. TRUE Private Wealth Advisors now owns 13,603 shares of the company’s stock valued at $126,000 after buying an additional 2,103 shares in the last quarter.
Alcoa Inc. (NYSE:AA) opened at 31.70 on Friday. Alcoa Inc. has a 1-year low of $20.00 and a 1-year high of $32.19. The stock’s 50 day moving average is $26.01 and its 200-day moving average is $26.01. The firm’s market capitalization is $13.90 billion.
Alcoa (NYSE:AA) last announced its earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.21. Alcoa had a negative net margin of 0.88% and a positive return on equity of 3.87%. The business earned $5.21 billion during the quarter. During the same period in the prior year, the business earned $0.07 EPS. Alcoa’s quarterly revenue was down 6.5% on a year-over-year basis. Analysts forecast that Alcoa Inc. will post ($0.66) EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Friday, November 4th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Wednesday, November 2nd. Alcoa’s dividend payout ratio is presently -63.15%.
A number of equities research analysts have weighed in on the company. Credit Suisse Group AG set a $39.00 price objective on Alcoa and gave the company a “buy” rating in a report on Saturday, October 8th. Cowen and Company assumed coverage on Alcoa in a report on Monday, November 7th. They set a “market perform” rating and a $29.00 price objective on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $27.00 price objective on shares of Alcoa in a report on Friday, October 21st. Vetr downgraded Alcoa from a “sell” rating to a “strong sell” rating and set a $27.98 price objective on the stock. in a report on Thursday. Finally, Citigroup Inc. assumed coverage on Alcoa in a report on Monday, November 7th. They set a “buy” rating and a $30.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $19.95.
Alcoa Company Profile
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.