Strs Ohio Sells 28,937 Shares of Alcoa $AA

Strs Ohio decreased its stake in shares of Alcoa (NYSE:AA) by 82.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,179 shares of the industrial products company’s stock after selling 28,937 shares during the period. Strs Ohio’s holdings in Alcoa were worth $203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AA. IFP Advisors Inc lifted its position in shares of Alcoa by 1,096.0% during the second quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 822 shares in the last quarter. Root Financial Partners LLC bought a new position in Alcoa in the 3rd quarter worth approximately $29,000. Horrell Capital Management Inc. acquired a new position in Alcoa during the 2nd quarter worth $30,000. Heartwood Wealth Advisors LLC bought a new position in Alcoa in the 3rd quarter valued at $53,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Alcoa by 173.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock valued at $60,000 after buying an additional 1,295 shares during the period.

Alcoa Stock Up 2.4%

Shares of NYSE AA opened at $58.17 on Tuesday. Alcoa has a 52-week low of $21.53 and a 52-week high of $66.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 1.45. The stock has a market cap of $15.06 billion, a P/E ratio of 13.16 and a beta of 1.91. The firm has a 50 day moving average price of $53.62 and a 200 day moving average price of $40.71.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.31. Alcoa had a net margin of 9.12% and a return on equity of 16.18%. The company had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the firm posted $1.04 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Analysts expect that Alcoa will post 4.43 EPS for the current year.

Wall Street Analysts Forecast Growth

AA has been the topic of several research reports. Citigroup upped their price target on Alcoa from $42.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, December 19th. HSBC upped their target price on shares of Alcoa from $33.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $50.00 price target (up previously from $45.00) on shares of Alcoa in a research report on Thursday, January 8th. UBS Group increased their price objective on shares of Alcoa from $42.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Finally, Zacks Research raised shares of Alcoa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.25.

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.