New York State Common Retirement Fund Acquires 14,400 Shares of Alcoa Co. (NYSE:AA)

New York State Common Retirement Fund raised its holdings in shares of Alcoa Co. (NYSE:AA - Free Report) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 439,333 shares of the industrial products company's stock after buying an additional 14,400 shares during the period. New York State Common Retirement Fund owned about 0.24% of Alcoa worth $16,949,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Rosenberg Matthew Hamilton lifted its position in shares of Alcoa by 15.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,452 shares of the industrial products company's stock valued at $133,000 after buying an additional 459 shares in the last quarter. US Bancorp DE lifted its holdings in Alcoa by 14.3% during the third quarter. US Bancorp DE now owns 10,482 shares of the industrial products company's stock valued at $404,000 after purchasing an additional 1,310 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Alcoa by 6.7% in the third quarter. New York State Teachers Retirement System now owns 164,157 shares of the industrial products company's stock worth $6,333,000 after purchasing an additional 10,257 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Alcoa by 44.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 16,642 shares of the industrial products company's stock valued at $642,000 after buying an additional 5,147 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Alcoa by 55.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 30,005 shares of the industrial products company's stock worth $1,157,000 after buying an additional 10,726 shares during the period.

Alcoa Trading Up 6.0 %

NYSE AA traded up $2.57 on Wednesday, hitting $45.35. 9,630,027 shares of the stock were exchanged, compared to its average volume of 5,884,839. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. Alcoa Co. has a 52-week low of $23.80 and a 52-week high of $46.03. The firm has a market capitalization of $11.72 billion, a P/E ratio of -24.31, a P/E/G ratio of 0.77 and a beta of 2.42. The stock has a fifty day moving average price of $36.99 and a two-hundred day moving average price of $37.24.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.34. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period in the prior year, the company posted ($1.14) EPS. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts forecast that Alcoa Co. will post 0.89 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Tuesday, October 29th. Alcoa's dividend payout ratio (DPR) is presently -22.73%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. BMO Capital Markets boosted their price objective on Alcoa from $42.00 to $45.00 and gave the company a "market perform" rating in a research report on Thursday, October 17th. B. Riley Financial restated a "neutral" rating and issued a $41.00 price target on shares of Alcoa in a research note on Tuesday, September 17th. Argus upgraded shares of Alcoa from a "hold" rating to a "buy" rating and set a $48.00 price objective on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on shares of Alcoa from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Finally, StockNews.com upgraded shares of Alcoa from a "sell" rating to a "hold" rating in a report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Alcoa currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.75.

Insider Buying and Selling at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total value of $1,009,335.43. Following the transaction, the executive vice president now owns 57,317 shares of the company's stock, valued at $2,423,935.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Alcoa 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.