State of New Jersey Common Pension Fund D Grows Stock Position in Alcoa Co. (NYSE:AA)

State of New Jersey Common Pension Fund D boosted its position in shares of Alcoa Co. (NYSE:AA - Free Report) by 13.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 95,587 shares of the industrial products company's stock after purchasing an additional 11,128 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Alcoa were worth $3,611,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP bought a new position in Alcoa during the third quarter valued at approximately $43,000. Continuum Advisory LLC raised its stake in Alcoa by 1,945.5% during the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 1,070 shares during the period. UMB Bank n.a. increased its holdings in Alcoa by 78.5% in the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 598 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Alcoa by 399.0% in the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 1,157 shares in the last quarter. Finally, Millburn Ridgefield Corp bought a new stake in Alcoa during the third quarter worth approximately $89,000.

Alcoa Price Performance

AA traded down $3.19 during midday trading on Friday, hitting $34.06. 3,851,348 shares of the company traded hands, compared to its average volume of 5,030,923. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of -212.91, a PEG ratio of 0.20 and a beta of 2.43. Alcoa Co. has a 52-week low of $24.86 and a 52-week high of $47.77. The business has a 50 day simple moving average of $37.02 and a two-hundred day simple moving average of $37.76. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, equities analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 4th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.17%. Alcoa's payout ratio is -250.00%.

Wall Street Analysts Forecast Growth

AA has been the subject of several research reports. B. Riley raised shares of 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 research report on Monday, January 6th. BMO Capital Markets increased their price objective on shares of Alcoa to $43.00 and gave the company a "hold" rating in a research report on Friday, January 17th. Bank of America lifted their price target on Alcoa to $58.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Finally, Morgan Stanley dropped their price objective on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Alcoa presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.55.

Alcoa Company Profile

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.