Nuveen Asset Management LLC Sells 127,115 Shares of Alcoa Co. (NYSE:AA)

Nuveen Asset Management LLC reduced its holdings in Alcoa Co. (NYSE:AA - Free Report) by 18.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 563,116 shares of the industrial products company's stock after selling 127,115 shares during the quarter. Nuveen Asset Management LLC owned about 0.22% of Alcoa worth $21,275,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AA. Norges Bank bought a new stake in shares of Alcoa in the 4th quarter worth approximately $259,273,000. Northern Trust Corp boosted its position in shares of Alcoa by 46.8% during the fourth quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company's stock valued at $96,324,000 after purchasing an additional 813,214 shares in the last quarter. ARGA Investment Management LP boosted its position in shares of Alcoa by 29.6% during the fourth quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company's stock valued at $113,276,000 after purchasing an additional 684,505 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Alcoa by 488.2% during the fourth quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company's stock valued at $30,320,000 after purchasing an additional 666,117 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Alcoa by 96.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,065,125 shares of the industrial products company's stock valued at $40,240,000 after purchasing an additional 522,039 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AA has been the topic of several research reports. Wall Street Zen lowered Alcoa from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. dropped their price target on Alcoa from $28.00 to $25.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Bank of America restated an "underperform" rating and set a $26.00 price target (down from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. HC Wainwright lifted their price objective on Alcoa to $90.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. Finally, B. Riley lowered their price objective on Alcoa from $44.00 to $43.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Alcoa currently has a consensus rating of "Hold" and an average price target of $42.50.

Alcoa Stock Performance

Shares of AA traded down $0.18 during trading hours on Thursday, hitting $27.70. The stock had a trading volume of 711,031 shares, compared to its average volume of 5,870,313. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. Alcoa Co. has a 12 month low of $21.53 and a 12 month high of $47.77. The firm has a market capitalization of $7.17 billion, a PE ratio of -173.13, a PEG ratio of 0.19 and a beta of 2.29. The stock has a fifty day moving average price of $26.90 and a 200 day moving average price of $34.17.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly 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. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.58 billion. Analysts anticipate that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Tuesday, May 20th. Alcoa's dividend 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.