Public Employees Retirement System of Ohio Purchases Shares of 75,029 Alcoa $AA

Public Employees Retirement System of Ohio purchased a new position in shares of Alcoa (NYSE:AA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 75,029 shares of the industrial products company’s stock, valued at approximately $3,912,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Basepoint Wealth LLC acquired a new stake in Alcoa in the fourth quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Alcoa in the second quarter valued at $25,000. Western Wealth Management LLC acquired a new stake in Alcoa during the 1st quarter valued at $35,000. Caitong International Asset Management Co. Ltd increased its stake in Alcoa by 5,281.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after buying an additional 581 shares during the period. Finally, Quarry LP increased its stake in Alcoa by 96.0% during the 4th quarter. Quarry LP now owns 694 shares of the industrial products company’s stock worth $37,000 after buying an additional 340 shares during the period.

Analyst Ratings Changes

A number of brokerages recently commented on AA. B. Riley Financial reduced their price target on Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Royal Bank Of Canada set a $70.00 target price on Alcoa in a research report on Wednesday, July 1st. Bank of America reduced their target price on Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a research note on Thursday, July 9th. UBS Group decreased their price target on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, Weiss Ratings upgraded shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Alcoa has an average rating of “Hold” and an average price target of $61.09.

Insider Buying and Selling

In related news, EVP Tammi Jones sold 15,628 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $50.60, for a total transaction of $790,776.80. Following the completion of the transaction, the executive vice president owned 39,819 shares in the company, valued at $2,014,841.40. The trade was a 28.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Renato Bacchi sold 700 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $51.02, for a total value of $35,714.00. Following the transaction, the executive vice president owned 74,930 shares of the company’s stock, valued at approximately $3,822,928.60. The trade was a 0.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Alcoa Trading Up 0.1%

Shares of NYSE AA opened at $51.09 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average price is $48.72 and its two-hundred day moving average price is $59.65. Alcoa has a 52-week low of $30.58 and a 52-week high of $84.38. The stock has a market capitalization of $13.48 billion, a P/E ratio of 10.51, a PEG ratio of 0.58 and a beta of 1.63.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a net margin of 9.48% and a return on equity of 18.90%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the company posted $0.39 earnings per share. On average, analysts anticipate that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. Alcoa’s dividend payout ratio (DPR) is 8.23%.

Alcoa Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.