Nykredit A S Buys New Stake in Alcoa $AA

Key Points

• Nykredit A S acquired 1.43 million Alcoa shares worth approximately $74.4 million, giving it a 0.54% stake. Institutional investors collectively own 82.39% of Alcoa.
• Analysts maintain a mixed outlook, with six Buy, four Hold and two Sell ratings. The consensus rating is Hold, with an average price target of $61.09 versus the stock’s recent price near $51.
• Alcoa reported quarterly earnings of $2.12 per share, below the $2.25 consensus estimate, while revenue of $3.97 billion also slightly missed forecasts. The company continues to pay a quarterly dividend of $0.10, representing a 0.8% annual yield.

Nykredit A S purchased a new stake in Alcoa (NYSE:AA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,427,070 shares of the industrial products company's stock, valued at approximately $74,407,000. Nykredit A S owned approximately 0.54% of Alcoa at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC increased its holdings in shares of Alcoa by 1,098.0% in the 1st quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company's stock valued at $357,000 after acquiring an additional 10,727 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Alcoa by 0.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company's stock worth $19,722,000 after purchasing an additional 4,624 shares during the last quarter. Invesco Ltd. boosted its holdings in Alcoa by 1.9% in the second quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company's stock valued at $18,902,000 after purchasing an additional 12,008 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Alcoa by 173.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company's stock valued at $60,000 after purchasing an additional 1,295 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Alcoa by 320.1% in the second quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company's stock valued at $7,967,000 after purchasing an additional 205,717 shares during the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AA has been the topic of a number of research analyst reports. Morgan Stanley reissued an "equal weight" rating and set a $53.00 price objective (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. Argus lowered their target price on shares of Alcoa from $73.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday, July 22nd. Wall Street Zen raised shares of Alcoa from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. B. Riley Financial cut their price target on shares of Alcoa from $92.00 to $80.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. Finally, Royal Bank Of Canada set a $70.00 price target on shares of Alcoa in a research report on Wednesday, July 1st. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $61.09.

Alcoa Trading Up 0.3%

NYSE:AA opened at $51.06 on Thursday. The company has a market capitalization of $13.47 billion, a PE ratio of 10.51, a P/E/G ratio of 0.58 and a beta of 1.63. Alcoa has a 52-week low of $30.28 and a 52-week high of $84.38. The stock's 50 day moving average price is $48.76 and its 200 day moving average price is $59.71. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30.

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

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were paid a $0.10 dividend. The ex-dividend date was Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. Alcoa's payout ratio is currently 8.23%.

Insider Transactions at Alcoa

In related 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 value of $790,776.80. Following the transaction, the executive vice president owned 39,819 shares in the company, valued at $2,014,841.40. The trade was a 28.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Renato Bacchi sold 700 shares of the company's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $51.02, for a total value of $35,714.00. Following the sale, the executive vice president directly owned 74,930 shares of the company's stock, valued at approximately $3,822,928.60. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.43% of the stock is currently owned by corporate insiders.

Alcoa Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company's operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa's product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.

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