Nuveen LLC Purchases New Position in Alcoa $AA

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Nuveen LLC bought a new position in shares of Alcoa (NYSE:AA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 765,212 shares of the industrial products company's stock, valued at approximately $23,339,000. Nuveen LLC owned about 0.30% of Alcoa at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AA. Northern Trust Corp boosted its holdings in shares of Alcoa by 46.8% in the 4th quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company's stock valued at $96,324,000 after acquiring an additional 813,214 shares during the last quarter. Sourcerock Group LLC boosted its holdings in shares of Alcoa by 319.1% in the 4th quarter. Sourcerock Group LLC now owns 1,978,009 shares of the industrial products company's stock valued at $74,729,000 after acquiring an additional 1,506,009 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Alcoa by 0.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,899,066 shares of the industrial products company's stock valued at $57,922,000 after acquiring an additional 6,832 shares during the last quarter. ANTIPODES PARTNERS Ltd boosted its holdings in shares of Alcoa by 2.2% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 1,687,529 shares of the industrial products company's stock valued at $51,474,000 after acquiring an additional 36,520 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its stake in shares of Alcoa by 1.0% in the 1st quarter. Douglas Lane & Associates LLC now owns 1,401,884 shares of the industrial products company's stock valued at $42,757,000 after purchasing an additional 13,194 shares during the period.

Alcoa Stock Performance

Alcoa stock traded up $2.5350 during trading on Friday, hitting $32.0450. The stock had a trading volume of 5,329,125 shares, compared to its average volume of 5,933,816. Alcoa has a 1 year low of $21.53 and a 1 year high of $47.77. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.41. The stock's 50 day moving average is $29.96 and its two-hundred day moving average is $29.82. The stock has a market cap of $8.30 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 0.17 and a beta of 2.24.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.96 billion. Alcoa had a return on equity of 19.18% and a net margin of 7.86%.The firm's revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 earnings per share. As a group, analysts predict that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Tuesday, August 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. Alcoa's dividend payout ratio (DPR) is presently 10.44%.

Analyst Upgrades and Downgrades

AA has been the subject of several analyst reports. Bank of America boosted their target price on shares of Alcoa from $26.00 to $27.00 and gave the company an "underperform" rating in a research note on Thursday, July 17th. Morgan Stanley decreased their target price on shares of Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Citigroup upgraded shares of Alcoa to a "buy" rating and set a $42.00 target price for the company in a research note on Tuesday, July 8th. Wall Street Zen cut shares of Alcoa from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, B. Riley cut their price target on shares of Alcoa from $38.00 to $37.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $41.23.

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.