Nordea Investment Management AB Has $3.71 Million Holdings in Alcoa Co. (NYSE:AA)

Nordea Investment Management AB decreased its position in shares of Alcoa Co. (NYSE:AAFree Report) by 2.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 109,472 shares of the industrial products company’s stock after selling 2,610 shares during the quarter. Nordea Investment Management AB owned approximately 0.06% of Alcoa worth $3,707,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Spire Wealth Management lifted its holdings in Alcoa by 252.5% during the 1st quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock worth $30,000 after buying an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of Alcoa during the 4th quarter valued at $31,000. Private Wealth Management Group LLC bought a new stake in shares of Alcoa during the 4th quarter valued at $33,000. Quent Capital LLC raised its position in shares of Alcoa by 64.2% during the 4th quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 387 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new stake in shares of Alcoa during the 4th quarter valued at $39,000.

Alcoa Stock Down 3.2 %

NYSE:AA opened at $40.33 on Wednesday. The stock has a 50-day simple moving average of $40.27 and a 200 day simple moving average of $34.42. Alcoa Co. has a 52-week low of $23.07 and a 52-week high of $45.48. The company has a market cap of $7.24 billion, a PE ratio of -10.73 and a beta of 2.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.93 and a current ratio of 1.61.

Alcoa (NYSE:AAGet Free Report) last released its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the company earned ($0.23) EPS. The company’s revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts expect that Alcoa Co. will post 1.23 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 21st were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Monday, May 20th. Alcoa’s dividend payout ratio (DPR) is currently -10.64%.

Analyst Upgrades and Downgrades

AA has been the subject of several recent research reports. Morgan Stanley upgraded shares of Alcoa from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $36.50 to $50.00 in a research report on Friday, June 21st. Bank of America upped their target price on shares of Alcoa from $40.00 to $46.00 and gave the company a “neutral” rating in a research report on Wednesday, June 26th. Citigroup upped their target price on shares of Alcoa from $32.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Jefferies Financial Group upped their target price on shares of Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Finally, StockNews.com cut shares of Alcoa from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.33.

Get Our Latest Stock Analysis on AA

Alcoa Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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