Nilsine Partners LLC Acquires New Shares in Alcoa (NYSE:AA)

Nilsine Partners LLC bought a new stake in Alcoa (NYSE:AA - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 27,281 shares of the industrial products company's stock, valued at approximately $832,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Drummond Knight Asset Management Pty Ltd acquired a new position in shares of Alcoa during the fourth quarter worth $19,646,000. Corient Private Wealth LLC lifted its holdings in Alcoa by 4.6% during the 4th quarter. Corient Private Wealth LLC now owns 21,602 shares of the industrial products company's stock worth $816,000 after buying an additional 948 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Alcoa by 630.4% during the 1st quarter. SG Americas Securities LLC now owns 28,955 shares of the industrial products company's stock worth $883,000 after acquiring an additional 24,991 shares in the last quarter. M&T Bank Corp boosted its position in shares of Alcoa by 16.6% during the 4th quarter. M&T Bank Corp now owns 26,437 shares of the industrial products company's stock worth $999,000 after acquiring an additional 3,758 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 393 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently issued reports on AA. Wall Street Zen downgraded Alcoa from a "buy" rating to a "hold" rating in a report on Sunday. Bank of America restated an "underperform" rating and set a $26.00 price objective (down previously from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. Barclays upped their target price on shares of Alcoa to $31.00 and gave the company a "hold" rating in a report on Friday, May 16th. HC Wainwright lifted their price target on shares of Alcoa to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alcoa from $25.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $42.33.

Alcoa Price Performance

Shares of AA traded down $0.62 during mid-day trading on Wednesday, hitting $28.18. The company's stock had a trading volume of 3,765,918 shares, compared to its average volume of 5,596,906. The company has a current ratio of 1.71, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. Alcoa has a 1-year low of $21.53 and a 1-year high of $47.77. The firm has a market capitalization of $7.30 billion, a P/E ratio of 8.49, a P/E/G ratio of 0.16 and a beta of 2.26. The firm has a 50-day simple moving average of $27.08 and a 200 day simple moving average of $31.90.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.42. The firm had revenue of $3.37 billion during the quarter, compared to analysts' expectations of $3.58 billion. Alcoa had a return on equity of 18.56% and a net margin of 6.79%. Analysts predict that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Tuesday, May 20th. Alcoa's dividend payout ratio (DPR) is 12.05%.

Alcoa Company Profile

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.