Nisa Investment Advisors LLC Has $381,000 Stake in Alcoa (NYSE:AA)

Nisa Investment Advisors LLC decreased its holdings in shares of Alcoa (NYSE:AA) by 32.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,506 shares of the industrial products company’s stock after selling 6,136 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Alcoa were worth $381,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Bessemer Group Inc. lifted its stake in Alcoa by 77.1% in the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock valued at $26,000 after buying an additional 296 shares during the period. Versant Capital Management Inc lifted its stake in Alcoa by 134.7% in the first quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company’s stock valued at $28,000 after buying an additional 520 shares during the period. Point72 Hong Kong Ltd acquired a new position in Alcoa in the fourth quarter valued at about $36,000. Continuum Advisory LLC grew its stake in Alcoa by 30.7% in the fourth quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 345 shares during the period. Finally, GAMMA Investing LLC grew its stake in Alcoa by 58.8% in the first quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 851 shares during the period.

Analyst Upgrades and Downgrades

AA has been the subject of a number of research analyst reports. Barclays boosted their target price on Alcoa to $31.00 and gave the company a “hold” rating in a research note on Friday, May 16th. Wall Street Zen cut Alcoa from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. B. Riley dropped their price target on Alcoa from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday. Bank of America reissued an “underperform” rating and issued a $26.00 price target (down previously from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. Finally, Citigroup raised Alcoa to a “buy” rating and set a $42.00 price target on the stock in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.23.

Alcoa Stock Up 0.4%

AA stock opened at $28.59 on Thursday. The company has a market cap of $7.40 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.17 and a beta of 2.25. The business has a 50-day simple moving average of $28.78 and a 200 day simple moving average of $30.98. Alcoa has a 52 week low of $21.53 and a 52 week high of $47.77. The company has a quick ratio of 1.00, a current ratio of 1.71 and a debt-to-equity ratio of 0.43.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.48). Alcoa had a net margin of 6.79% and a return on equity of 18.56%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.16 earnings per share. Sell-side analysts anticipate 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. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.40%. The ex-dividend date was Tuesday, May 20th. Alcoa’s payout ratio is presently 12.05%.

About Alcoa

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.