Teacher Retirement System of Texas Sells 468 Shares of Alcoa Corp. (AA)

Teacher Retirement System of Texas lowered its stake in Alcoa Corp. (NYSE:AA) by 3.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 11,403 shares of the industrial products company’s stock after selling 468 shares during the period. Teacher Retirement System of Texas’ holdings in Alcoa Corp. were worth $392,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in shares of Alcoa Corp. by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock valued at $142,000 after buying an additional 132 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Alcoa Corp. by 42.3% in the first quarter. Van ECK Associates Corp now owns 5,566 shares of the industrial products company’s stock valued at $191,000 after buying an additional 1,654 shares in the last quarter. AXA purchased a new position in shares of Alcoa Corp. during the first quarter valued at about $206,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Alcoa Corp. during the first quarter valued at about $267,000. Finally, Clinton Group Inc. purchased a new position in shares of Alcoa Corp. during the first quarter valued at about $277,000.

Institutional Ownership by Quarter for Alcoa Corp. (NYSE:AA)

Alcoa Corp. (NYSE AA) traded down 0.03% during trading on Tuesday, reaching $30.88. The company had a trading volume of 1,061,323 shares. Alcoa Corp. has a 52-week low of $20.00 and a 52-week high of $39.78. The company has a 50-day moving average price of $32.23 and a 200 day moving average price of $33.33. The stock has a market cap of $5.69 billion and a PE ratio of 166.02.

Alcoa Corp. (NYSE:AA) last released its earnings results on Monday, April 24th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.15. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Alcoa Corp.’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 EPS. On average, analysts anticipate that Alcoa Corp. will post $2.80 earnings per share for the current year.

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Several equities analysts recently issued reports on the company. BMO Capital Markets raised Alcoa Corp. from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $35.00 to $45.00 in a report on Friday, March 31st. Zacks Investment Research cut Alcoa Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. Berenberg Bank raised Alcoa Corp. from a “hold” rating to a “buy” rating and boosted their price target for the stock from $27.00 to $40.00 in a report on Friday, March 24th. Vetr raised Alcoa Corp. from a “hold” rating to a “buy” rating and set a $37.71 price target for the company in a report on Monday, February 20th. Finally, Clarkson Capital assumed coverage on Alcoa Corp. in a report on Monday, May 22nd. They issued a “buy” rating and a $43.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Alcoa Corp. presently has an average rating of “Buy” and a consensus target price of $36.50.

About Alcoa Corp.

Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “AA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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