Teachers Retirement System of The State of Kentucky Purchases 21,830 Shares of Alcoa Co. (NYSE:AA)

Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Alcoa Co. (NYSE:AA - Free Report) by 37.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,831 shares of the industrial products company's stock after purchasing an additional 21,830 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Alcoa were worth $3,118,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. ING Groep NV acquired a new position in Alcoa during the third quarter valued at approximately $10,201,000. Douglas Lane & Associates LLC raised its holdings in shares of Alcoa by 2.0% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company's stock worth $54,859,000 after buying an additional 27,217 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Alcoa by 6.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,116 shares of the industrial products company's stock worth $24,233,000 after buying an additional 36,869 shares during the last quarter. Aigen Investment Management LP lifted its position in shares of Alcoa by 73.0% during the 3rd quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company's stock worth $1,422,000 after buying an additional 15,546 shares during the last quarter. Finally, Mountaineer Partners Management LLC boosted its stake in Alcoa by 4,023.0% in the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company's stock valued at $416,505,000 after buying an additional 10,534,036 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors.

Alcoa Trading Down 1.3 %

Shares of NYSE:AA traded down $0.50 during trading on Friday, reaching $39.12. The stock had a trading volume of 3,602,623 shares, compared to its average volume of 5,746,822. Alcoa Co. has a 52 week low of $24.86 and a 52 week high of $47.77. The firm's fifty day moving average is $42.65 and its 200 day moving average is $38.30. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of -22.23, a P/E/G ratio of 0.79 and a beta of 2.44. 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 (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 the consensus estimate of $0.23 by $0.34. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same period last year, the company posted ($1.14) EPS. The business's quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities analysts forecast that Alcoa Co. will post 0.9 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa's payout ratio is -22.73%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com raised shares of Alcoa from a "sell" rating to a "hold" rating in a report on Thursday, October 17th. UBS Group raised their target price on shares of Alcoa from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. B. Riley Financial reiterated a "neutral" rating and set a $41.00 price target on shares of Alcoa in a report on Tuesday, September 17th. Argus raised Alcoa from a "hold" rating to a "buy" rating and set a $48.00 price objective on the stock in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Alcoa from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Alcoa has a consensus rating of "Moderate Buy" and an average price target of $46.73.

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 approximately $2,423,935.93. This trade represents a 29.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.08% of the company's stock.

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.