Teacher Retirement System of Texas reduced its position in shares of Alcoa Inc. (NYSE:AA) by 87.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 94,112 shares of the company’s stock after selling 661,733 shares during the period. Teacher Retirement System of Texas’ holdings in Alcoa were worth $872,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in Alcoa by 3.6% in the first quarter. Legal & General Group Plc now owns 5,817,728 shares of the company’s stock worth $55,747,000 after buying an additional 200,712 shares in the last quarter. Orbis Allan Gray Ltd purchased a new position in Alcoa during the first quarter worth approximately $374,584,000. Geode Capital Management LLC boosted its position in Alcoa by 2.3% in the first quarter. Geode Capital Management LLC now owns 10,720,212 shares of the company’s stock worth $102,493,000 after buying an additional 240,383 shares in the last quarter. FDO Partners LLC purchased a new position in Alcoa during the first quarter worth approximately $410,000. Finally, BlackRock Group LTD boosted its position in Alcoa by 0.4% in the first quarter. BlackRock Group LTD now owns 13,821,640 shares of the company’s stock worth $132,411,000 after buying an additional 55,116 shares in the last quarter.
Shares of Alcoa Inc. (NYSE:AA) traded down 1.395% during trading on Tuesday, hitting $9.545. 5,525,234 shares of the company’s stock were exchanged. The stock’s market cap is $12.56 billion. Alcoa Inc. has a one year low of $6.14 and a one year high of $11.50. The firm has a 50-day moving average price of $10.03 and a 200-day moving average price of $9.92.
Alcoa (NYSE:AA) last issued its quarterly earnings results on Monday, July 11th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.09 by $0.06. The company had revenue of $5.30 billion for the quarter. Alcoa had a negative net margin of 1.45% and a positive return on equity of 3.44%. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. Equities research analysts expect that Alcoa Inc. will post $0.44 EPS for the current fiscal year.
AA has been the topic of a number of research analyst reports. Morgan Stanley reissued a “buy” rating and issued a $12.00 target price on shares of Alcoa in a research note on Tuesday, August 16th. Seaport Global Securities started coverage on Alcoa in a research note on Friday, September 9th. They issued a “neutral” rating and a $11.00 target price on the stock. Rosenblatt Securities restated a “buy” rating and set a $15.00 price target on shares of Alcoa in a research report on Friday, July 15th. Bank of America Corp. restated a “buy” rating on shares of Alcoa in a research report on Friday, June 17th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Alcoa in a research report on Tuesday, July 12th. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Alcoa has an average rating of “Buy” and a consensus target price of $11.29.
In related news, Director Ulrich Schmidt acquired 5,000 shares of the stock in a transaction on Wednesday, July 20th. The stock was bought at an average cost of $10.40 per share, with a total value of $52,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $104,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
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