Louisiana State Employees Retirement System Takes Position in Alcoa $AA

Louisiana State Employees Retirement System bought a new position in Alcoa (NYSE:AA) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 75,100 shares of the industrial products company’s stock, valued at approximately $4,981,000.

A number of other institutional investors and hedge funds have also modified their holdings of AA. Basepoint Wealth LLC purchased a new stake in Alcoa in the 4th quarter worth about $25,000. Raleigh Capital Management Inc. increased its holdings in shares of Alcoa by 52,500.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 525 shares during the period. CoreCap Advisors LLC increased its holdings 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 purchasing an additional 237 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Alcoa by 5,281.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 581 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Alcoa by 96.0% in the fourth quarter. Quarry LP now owns 694 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 340 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Weiss Ratings raised shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. JPMorgan Chase & Co. lifted their target price on shares of Alcoa from $68.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Citigroup upped their price target on shares of Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Zacks Research lowered Alcoa from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, BMO Capital Markets lifted their price objective on Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $68.80.

Alcoa Stock Performance

NYSE:AA opened at $54.04 on Friday. The firm has a market capitalization of $14.26 billion, a PE ratio of 13.68 and a beta of 1.56. Alcoa has a 1 year low of $27.72 and a 1 year high of $84.38. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The firm’s fifty day simple moving average is $66.62 and its 200 day simple moving average is $62.46.

Alcoa (NYSE:AA) last released its earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.15 EPS. On average, sell-side analysts anticipate that Alcoa will post 7.54 EPS for the current year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s payout ratio is currently 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.