California Public Employees Retirement System Has $13.63 Million Stock Position in Alcoa Co. (NYSE:AA)

California Public Employees Retirement System grew its holdings in Alcoa Co. (NYSE:AA) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 360,732 shares of the industrial products company’s stock after purchasing an additional 37,303 shares during the period. California Public Employees Retirement System owned about 0.14% of Alcoa worth $13,628,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AA. SBI Securities Co. Ltd. acquired a new position in Alcoa during the fourth quarter worth $29,000. Smartleaf Asset Management LLC grew its holdings in Alcoa by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 393 shares during the period. Quarry LP acquired a new position in Alcoa during the third quarter worth approximately $43,000. Continuum Advisory LLC raised its stake in Alcoa by 1,945.5% in the third quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after buying an additional 1,070 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of Alcoa by 78.5% in the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock valued at $51,000 after buying an additional 598 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. HC Wainwright upped their target price on Alcoa to $90.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. B. Riley upgraded Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. Bank of America upped their price objective on Alcoa to $58.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. lifted their target price on Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alcoa presently has an average rating of “Moderate Buy” and an average price target of $49.92.

Alcoa Price Performance

Shares of NYSE:AA opened at $24.79 on Friday. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $6.42 billion, a PE ratio of -154.96, a PEG ratio of 0.19 and a beta of 2.55. The firm has a 50 day moving average of $33.79 and a 200-day moving average of $38.00. Alcoa Co. has a 12 month low of $23.62 and a 12 month high of $47.77.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, equities research analysts predict that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Tuesday, March 4th. Alcoa’s dividend payout ratio is presently -250.00%.

About Alcoa

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.