North Dakota State Investment Board Takes Position in Alcoa $AA

North Dakota State Investment Board acquired a new stake in Alcoa (NYSE:AA) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 9,091 shares of the industrial products company’s stock, valued at approximately $483,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Prime Capital Investment Advisors LLC grew its position in shares of Alcoa by 1.9% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company’s stock valued at $568,000 after acquiring an additional 204 shares during the period. Northwestern Mutual Investment Management Company LLC grew its position in shares of Alcoa by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock valued at $3,079,000 after acquiring an additional 229 shares during the period. CoreCap Advisors LLC grew its position in shares of Alcoa by 74.1% in the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 237 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Alcoa by 1.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock valued at $722,000 after acquiring an additional 241 shares during the period. Finally, Quadrant Capital Group LLC grew its position in shares of Alcoa by 1.5% in the 3rd quarter. Quadrant Capital Group LLC now owns 22,497 shares of the industrial products company’s stock valued at $740,000 after acquiring an additional 324 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently commented on AA. Wall Street Zen downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. BMO Capital Markets lifted their price objective on shares of Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Argus set a $73.00 price objective on shares of Alcoa in a research report on Monday, April 27th. Morgan Stanley raised shares of Alcoa from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $64.00 to $80.00 in a research report on Thursday, April 9th. Finally, Zacks Research downgraded shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $68.60.

Alcoa Stock Performance

Shares of AA stock opened at $71.43 on Friday. The company has a market capitalization of $18.85 billion, a price-to-earnings ratio of 18.08 and a beta of 1.51. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. The company has a 50-day simple moving average of $65.74 and a 200 day simple moving average of $57.42. Alcoa has a 52 week low of $25.83 and a 52 week high of $75.70.

Alcoa (NYSE:AA) last announced its earnings results on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.20). The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.15 EPS. On average, sell-side analysts predict that Alcoa will post 7.95 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Tuesday, May 19th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. Alcoa’s payout ratio is presently 10.13%.

Alcoa Company 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.