Nomura Holdings Inc. Sells 52,556 Shares of Alcoa $AA

Key Points

• Nomura Holdings Inc. has dramatically reduced its stake in Alcoa (NYSE: AA) by 84.2%, selling 52,556 shares and now holding only 9,898 shares valued at approximately $302,000.
• Other institutional investors have increased their holdings in Alcoa, with Dimensional Fund Advisors LP increasing by 33.9% and Deutsche Bank AG by 481.2% in the same quarter.
• Alcoa reported quarterly earnings of $0.39 per share, surpassing analysts' expectations, and the company declared a quarterly dividend of $0.10 per share, with a pay-out ratio of 10.44%.

Nomura Holdings Inc. trimmed its position in shares of Alcoa (NYSE:AA - Free Report) by 84.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,898 shares of the industrial products company's stock after selling 52,556 shares during the period. Nomura Holdings Inc.'s holdings in Alcoa were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Continuum Advisory LLC boosted its holdings in shares of Alcoa by 30.7% in the fourth quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company's stock worth $56,000 after acquiring an additional 345 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Alcoa by 5.8% in the fourth quarter. Captrust Financial Advisors now owns 6,569 shares of the industrial products company's stock worth $248,000 after acquiring an additional 361 shares during the period. Versant Capital Management Inc boosted its stake in Alcoa by 134.7% during 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. Circle Wealth Management LLC boosted its stake in Alcoa by 7.5% during the fourth quarter. Circle Wealth Management LLC now owns 8,746 shares of the industrial products company's stock valued at $330,000 after buying an additional 612 shares during the period. Finally, State of Michigan Retirement System boosted its stake in Alcoa by 1.1% during the first quarter. State of Michigan Retirement System now owns 61,875 shares of the industrial products company's stock valued at $1,887,000 after buying an additional 700 shares during the period. 82.39% of the stock is owned by institutional investors.

Alcoa Trading Up 4.3%

Shares of NYSE AA traded up $1.34 during trading hours on Thursday, hitting $32.27. The company's stock had a trading volume of 6,105,275 shares, compared to its average volume of 5,075,778. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.65. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of 8.43, a P/E/G ratio of 0.17 and a beta of 2.26. Alcoa has a 12 month low of $21.53 and a 12 month high of $47.77. The business has a 50-day simple moving average of $30.72 and a 200-day simple moving average of $29.35.

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

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, August 12th. Alcoa's payout ratio is presently 10.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. UBS Group reissued a "neutral" rating and set a $31.00 price objective on shares of Alcoa in a research note on Thursday, May 15th. Morgan Stanley dropped their price objective on Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Barclays lifted their price objective on Alcoa to $31.00 and gave the company a "hold" rating in a research note on Friday, May 16th. Citigroup raised Alcoa to a "buy" rating and set a $42.00 price objective for the company in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. lowered their price target on Alcoa from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $41.75.

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.