Teacher Retirement System of Texas Has $1.48 Million Position in Alcoa $AA

Teacher Retirement System of Texas cut its holdings in Alcoa (NYSE:AA) by 19.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 44,860 shares of the industrial products company’s stock after selling 10,957 shares during the quarter. Teacher Retirement System of Texas’ holdings in Alcoa were worth $1,475,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. IFP Advisors Inc grew its stake in Alcoa by 1,096.0% in the second quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 822 shares during the period. Root Financial Partners LLC acquired a new stake in Alcoa in the 3rd quarter valued at $29,000. Horrell Capital Management Inc. bought a new stake in Alcoa during the 2nd quarter valued at $30,000. Heartwood Wealth Advisors LLC acquired a new position in Alcoa during the third quarter worth $53,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Alcoa by 173.8% in the second 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 in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Argus set a $45.00 price target on Alcoa in a research note on Thursday, October 30th. Morgan Stanley reiterated an “overweight” rating and issued a $52.00 price objective on shares of Alcoa in a research note on Monday, December 15th. BMO Capital Markets upped their price target on shares of Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Wells Fargo & Company decreased their price target on Alcoa from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $48.25.

Alcoa Stock Performance

Shares of NYSE:AA opened at $56.74 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.45 and a quick ratio of 0.87. Alcoa has a 1 year low of $21.53 and a 1 year high of $66.95. The stock has a market capitalization of $14.69 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 0.22 and a beta of 1.95. The company’s 50 day simple moving average is $53.23 and its 200 day simple moving average is $40.42.

Alcoa (NYSE:AA) last released its earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.31. Alcoa had a return on equity of 16.18% and a net margin of 9.12%.The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the previous year, the business posted $1.04 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, research analysts predict that Alcoa will post 4.43 EPS for the current fiscal year.

About Alcoa

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.