Alcoa Co. (NYSE:AA) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB grew its position in Alcoa Co. (NYSE:AA) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 253,673 shares of the industrial products company’s stock after acquiring an additional 5,773 shares during the quarter. Nordea Investment Management AB’s holdings in Alcoa were worth $9,662,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC grew its stake in Alcoa by 4,023.0% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after buying an additional 10,534,036 shares during the last quarter. State Street Corp grew its position in shares of Alcoa by 23.3% during the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock worth $368,965,000 after acquiring an additional 1,805,915 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Alcoa by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock valued at $265,132,000 after purchasing an additional 390,930 shares during the period. Geode Capital Management LLC grew its position in Alcoa by 42.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock worth $161,838,000 after purchasing an additional 1,239,479 shares during the last quarter. Finally, ARGA Investment Management LP increased its stake in shares of Alcoa by 1.5% in the third quarter. ARGA Investment Management LP now owns 2,313,806 shares of the industrial products company’s stock valued at $89,267,000 after purchasing an additional 34,878 shares during the period. 82.39% of the stock is currently owned by institutional investors.

Insider Transactions at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total value of $1,009,335.43. Following the transaction, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at $2,423,935.93. The trade was a 29.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on AA. Jefferies Financial Group lowered their target price on Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday. UBS Group upped their price objective on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Morgan Stanley boosted their price target on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. B. Riley Financial reiterated a “neutral” rating and issued a $41.00 price objective on shares of Alcoa in a report on Tuesday, September 17th. Finally, B. Riley upgraded Alcoa from a “neutral” rating to a “buy” rating and upped their target price for the stock from $41.00 to $50.00 in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Alcoa has a consensus rating of “Moderate Buy” and an average price target of $46.45.

Alcoa Stock Down 1.0 %

AA opened at $35.89 on Friday. The company has a market capitalization of $9.27 billion, a PE ratio of -20.39, a price-to-earnings-growth ratio of 0.79 and a beta of 2.47. The business has a 50-day moving average of $41.38 and a 200-day moving average of $37.87. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. Alcoa Co. has a fifty-two week low of $24.86 and a fifty-two week high of $47.77.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the prior year, the company posted ($1.14) earnings per share. Alcoa’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities research analysts forecast that Alcoa Co. will post 0.9 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 1.11%. Alcoa’s dividend payout ratio (DPR) is presently -22.73%.

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.