Nykredit A S Invests $74.41 Million in Alcoa $AA

Nykredit A S purchased a new position in shares of Alcoa (NYSE:AA) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,427,070 shares of the industrial products company’s stock, valued at approximately $74,407,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Nwam LLC boosted its holdings in Alcoa by 403.3% in the 2nd quarter. Nwam LLC now owns 38,388 shares of the industrial products company’s stock valued at $2,002,000 after purchasing an additional 30,760 shares in the last quarter. Maple Rock Capital Partners Inc. lifted its holdings in shares of Alcoa by 74.7% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,577,720 shares of the industrial products company’s stock valued at $82,262,000 after buying an additional 674,400 shares during the period. Sigma Planning Corp purchased a new stake in shares of Alcoa in the second quarter valued at approximately $1,195,000. Two Sigma Securities LLC grew its holdings in Alcoa by 114.9% during the second quarter. Two Sigma Securities LLC now owns 10,788 shares of the industrial products company’s stock worth $562,000 after acquiring an additional 5,768 shares during the period. Finally, GTS Securities LLC raised its position in Alcoa by 211.3% in the second quarter. GTS Securities LLC now owns 22,245 shares of the industrial products company’s stock worth $1,160,000 after acquiring an additional 15,100 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Insider Activity

In other news, EVP Renato Bacchi sold 700 shares of the 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 in the company, valued at $3,822,928.60. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tammi A. Jones sold 15,628 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $50.60, for a total transaction of $790,776.80. Following the transaction, the executive vice president directly owned 39,819 shares of the company’s stock, valued at approximately $2,014,841.40. This trade represents a 28.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on AA shares. Zacks Research lowered shares of Alcoa from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $53.00 price objective (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th. Bank of America decreased their price objective on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a report on Thursday, July 9th. Argus dropped 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. 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 assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Alcoa has a consensus rating of “Hold” and an average price target of $61.09.

Alcoa Trading Up 0.3%

Shares of AA stock opened at $51.06 on Thursday. The stock has a market cap of $13.47 billion, a P/E ratio of 10.51, a P/E/G ratio of 0.58 and a beta of 1.63. 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 has a fifty-two week low of $30.28 and a fifty-two week high of $84.38. The business has a fifty day simple moving average of $48.76 and a 200-day simple moving average of $59.71.

Alcoa (NYSE:AA) last released its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.13). The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same quarter in the prior year, the firm earned $0.39 earnings per share. On average, analysts forecast 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. Shareholders of record on Tuesday, August 11th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, August 11th. Alcoa’s dividend payout ratio is 8.23%.

About Alcoa

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.