Nisa Investment Advisors LLC Raises Stock Position in Alcoa Co. (NYSE:AA)

Nisa Investment Advisors LLC increased its holdings in shares of Alcoa Co. (NYSE:AA) by 161.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,650 shares of the industrial products company’s stock after purchasing an additional 6,580 shares during the period. Nisa Investment Advisors LLC’s holdings in Alcoa were worth $362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its position in Alcoa by 3.4% during the first quarter. State Street Corp now owns 8,273,477 shares of the industrial products company’s stock valued at $352,119,000 after buying an additional 271,387 shares during the period. Morgan Stanley grew its position in Alcoa by 24.9% during the third quarter. Morgan Stanley now owns 5,941,667 shares of the industrial products company’s stock valued at $172,665,000 after buying an additional 1,185,323 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Alcoa by 4,737.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,578,275 shares of the industrial products company’s stock valued at $208,174,000 after purchasing an additional 4,483,625 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Alcoa in the first quarter valued at about $318,670,000. Finally, Invesco Ltd. grew its position in shares of Alcoa by 7.4% in the third quarter. Invesco Ltd. now owns 3,216,008 shares of the industrial products company’s stock valued at $93,457,000 after purchasing an additional 222,884 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AA shares. BMO Capital Markets lifted their target price on shares of Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday. Bank of America lifted their target price on shares of Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. B. Riley lifted their target price on shares of Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday. Jefferies Financial Group lifted their target price on shares of Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday. Finally, StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.71.

Insiders Place Their Bets

In other news, EVP Tammi A. Jones sold 26,468 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total value of $814,685.04. Following the sale, the executive vice president now directly owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Alcoa Price Performance

Shares of AA stock opened at $35.48 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.45 and a quick ratio of 0.74. The firm’s 50-day moving average is $30.97 and its two-hundred day moving average is $29.02. Alcoa Co. has a 12 month low of $23.07 and a 12 month high of $42.23. The company has a market capitalization of $6.37 billion, a PE ratio of -9.72, a price-to-earnings-growth ratio of 2.32 and a beta of 2.47.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative return on equity of 6.56% and a negative net margin of 6.17%. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period last year, the firm earned ($0.23) earnings per share. Alcoa’s revenue for the quarter was down 2.7% on a year-over-year basis. Analysts predict that Alcoa Co. will post 0.33 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Monday, March 4th. Alcoa’s dividend payout ratio (DPR) is presently -10.96%.

Alcoa 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.