Teacher Retirement System of Texas Buys New Position in Alcoa Co. (NYSE:AA)

Teacher Retirement System of Texas purchased a new position in shares of Alcoa Co. (NYSE:AA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,163 shares of the industrial products company's stock, valued at approximately $686,000.

Other institutional investors also recently modified their holdings of the company. Cerity Partners LLC increased its position in Alcoa by 64.9% during the 3rd quarter. Cerity Partners LLC now owns 26,206 shares of the industrial products company's stock valued at $1,011,000 after purchasing an additional 10,314 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Alcoa by 18.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 306,162 shares of the industrial products company's stock worth $11,812,000 after buying an additional 46,897 shares during the period. Glenmede Trust Co. NA increased its position in Alcoa by 14.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 89,791 shares of the industrial products company's stock valued at $3,464,000 after buying an additional 11,484 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Alcoa in the third quarter worth approximately $2,546,000. Finally, CreativeOne Wealth LLC raised its position in shares of Alcoa by 4.1% during the third quarter. CreativeOne Wealth LLC now owns 9,114 shares of the industrial products company's stock worth $352,000 after purchasing an additional 360 shares during the period. Institutional investors own 82.39% of the company's stock.

Alcoa Price Performance

NYSE AA traded up $0.29 during trading hours on Wednesday, hitting $30.43. The company had a trading volume of 3,181,713 shares, compared to its average volume of 4,983,131. 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 has a market capitalization of $7.88 billion, a price-to-earnings ratio of -190.19, a PEG ratio of 0.19 and a beta of 2.55. Alcoa Co. has a 52 week low of $27.12 and a 52 week high of $47.77. The firm has a 50 day simple moving average of $34.39 and a 200 day simple moving average of $38.16.

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Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings data 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 research analysts expect that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.31%. Alcoa's dividend payout ratio (DPR) is presently -250.00%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. BMO Capital Markets boosted their price objective on Alcoa to $43.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. Bank of America raised their target price on Alcoa to $58.00 and gave the company a "buy" rating in a research report on Friday, January 24th. HC Wainwright increased their price target on shares of Alcoa to $90.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Finally, Jefferies Financial Group lowered their price objective on shares of Alcoa from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $49.92.

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.