Alcoa Co. (NYSE:AA) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its position in Alcoa Co. (NYSE:AA - Free Report) by 27.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,459 shares of the industrial products company's stock after purchasing an additional 17,974 shares during the period. State of New Jersey Common Pension Fund D's holdings in Alcoa were worth $3,258,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Alcoa by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company's stock valued at $265,132,000 after purchasing an additional 390,930 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new position in shares of Alcoa during the 2nd quarter valued at approximately $93,061,000. L1 Capital Pty Ltd purchased a new stake in shares of Alcoa during the first quarter worth $72,658,000. Capital Research Global Investors raised its stake in Alcoa by 29.8% during the first quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company's stock worth $69,869,000 after purchasing an additional 475,000 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Alcoa by 43.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company's stock valued at $49,958,000 after acquiring an additional 444,393 shares during the period.

Insider Buying and Selling

In other news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the transaction, the executive vice president now directly owns 57,317 shares in the company, valued at $2,423,935.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Alcoa Trading Down 0.9 %

Shares of NYSE:AA traded down $0.36 during trading on Wednesday, reaching $40.59. The company had a trading volume of 2,906,701 shares, compared to its average volume of 5,855,200. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $46.55. The stock's fifty day moving average price is $38.21 and its 200 day moving average price is $37.51.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.14) earnings per share. Analysts anticipate that Alcoa Co. will post 0.89 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.99%. Alcoa's dividend payout ratio is -22.73%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com raised Alcoa from a "sell" rating to a "hold" rating in a report on Thursday, October 17th. B. Riley upgraded Alcoa from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $41.00 to $50.00 in a research note on Thursday, October 17th. Wolfe Research upgraded shares of Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 price objective on the stock in a research note on Wednesday, September 4th. Morgan Stanley raised their price objective on Alcoa from $48.00 to $49.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. Finally, Bank of America upgraded shares of Alcoa from a "neutral" rating to a "buy" rating and upped their price target for the company from $43.00 to $52.00 in a report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $44.75.

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.