Nykredit A S Acquires Shares of 1,031,634 Alcoa $AA

Key Points

• Nykredit A S acquired 1,031,634 Alcoa shares in the second quarter, valued at approximately $53.8 million and representing about 0.39% of the company.
• Analyst sentiment remains mixed: six analysts rate Alcoa a Buy, five a Hold, and one a Sell, resulting in a consensus Hold rating and an average price target of $60.09.
• Alcoa reported quarterly EPS of $2.12, below the $2.25 consensus estimate, while revenue of $3.97 billion also slightly missed expectations. The company maintains a quarterly dividend of $0.10 per share, yielding about 0.9%.

Nykredit A S bought a new stake in shares of Alcoa (NYSE:AA - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,031,634 shares of the industrial products company's stock, valued at approximately $53,789,000. Nykredit A S owned approximately 0.39% of Alcoa as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Allianz Asset Management GmbH lifted its position in shares of Alcoa by 182.8% in the second quarter. Allianz Asset Management GmbH now owns 9,819 shares of the industrial products company's stock worth $512,000 after buying an additional 6,347 shares in the last quarter. Corient Private Wealth LP increased its position in Alcoa by 301.8% in the second quarter. Corient Private Wealth LP now owns 44,110 shares of the industrial products company's stock worth $2,300,000 after purchasing an additional 33,131 shares during the last quarter. HighTower Advisors LLC increased its position in Alcoa by 378.7% in the second quarter. HighTower Advisors LLC now owns 351,442 shares of the industrial products company's stock worth $18,324,000 after purchasing an additional 278,031 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Alcoa during the second quarter valued at $3,853,000. Finally, HB Wealth Management LLC raised its stake in Alcoa by 2.3% during the second quarter. HB Wealth Management LLC now owns 13,200 shares of the industrial products company's stock valued at $688,000 after purchasing an additional 293 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded Alcoa from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. B. Riley Financial decreased their price target on Alcoa from $92.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Morgan Stanley restated an "equal weight" rating and issued a $53.00 target price (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. Royal Bank Of Canada set a $70.00 price target on shares of Alcoa in a research note on Wednesday, July 1st. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Alcoa in a report on Monday. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $60.09.

Insiders Place Their Bets

In other news, EVP Tammi A. Jones sold 15,628 shares of the business's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $50.60, for a total transaction of $790,776.80. Following the sale, the executive vice president owned 39,819 shares in the company, valued at approximately $2,014,841.40. The trade was a 28.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Renato Bacchi sold 700 shares of the company's stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $51.02, for a total transaction of $35,714.00. Following the transaction, the executive vice president owned 74,930 shares in the company, valued at approximately $3,822,928.60. This trade represents a 0.93% decrease in their position. The SEC filing for this sale provides additional information.

Alcoa Stock Performance

Shares of NYSE:AA opened at $44.37 on Friday. The firm has a 50 day moving average of $48.34 and a 200 day moving average of $58.68. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 0.53 and a beta of 1.63. Alcoa has a 52 week low of $30.81 and a 52 week high of $84.38.

Alcoa (NYSE:AA - Get Free Report) last announced its earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.13). The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same period last year, the business posted $0.39 EPS. On average, sell-side analysts predict that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Alcoa's dividend payout ratio is presently 8.23%.

About Alcoa

Alcoa Corporation NYSE: AA is a global producer of bauxite, alumina and aluminum. Its operations span the aluminum value chain, including bauxite mining, alumina refining, aluminum smelting, casting and the production of select value-added aluminum products. The company serves customers in industries such as transportation, aerospace, construction, packaging, consumer products and energy.

Founded in 1888 as the Pittsburgh Reduction Company, Alcoa played a major role in developing the commercial aluminum industry and adopted the Alcoa name in 1907.

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