Nilsine Partners LLC Takes $832,000 Position in Alcoa (NYSE:AA)

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

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock worth $26,000 after acquiring an additional 296 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Alcoa during the fourth quarter valued at about $29,000. Versant Capital Management Inc boosted its holdings in shares of Alcoa by 134.7% during the first quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock worth $28,000 after purchasing an additional 520 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Alcoa during the fourth quarter worth about $36,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Alcoa by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock worth $39,000 after purchasing an additional 393 shares during the last quarter.

Alcoa Trading Down 1.7%

NYSE:AA opened at $27.88 on Friday. The firm has a market capitalization of $7.22 billion, a P/E ratio of 8.40, a PEG ratio of 0.15 and a beta of 2.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.71 and a quick ratio of 1.00. Alcoa has a one year low of $21.53 and a one year high of $47.77. The company's 50-day simple moving average is $26.92 and its 200 day simple moving average is $32.11.

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

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.43%. Alcoa's dividend payout ratio is currently 12.05%.

Wall Street Analyst Weigh In

A number of research firms have commented on AA. Bank of America reaffirmed an "underperform" rating and set a $26.00 price target (down previously from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. B. Riley decreased their target price on Alcoa from $44.00 to $43.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Barclays lifted their price target on shares of Alcoa to $31.00 and gave the company a "hold" rating in a report on Friday, May 16th. Wall Street Zen downgraded shares of Alcoa from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, JPMorgan Chase & Co. raised their target price on shares of Alcoa from $25.00 to $28.00 and gave the stock a "neutral" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $42.75.

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.

Want to see what other hedge funds are holding AA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alcoa (NYSE:AA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.