Daiwa Securities Group Inc. Sells 33,042 Shares of Alcoa Co. (NYSE:AA)

Daiwa Securities Group Inc. lessened its holdings in Alcoa Co. (NYSE:AA) by 92.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,858 shares of the industrial products company’s stock after selling 33,042 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Alcoa were worth $108,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AA. Victory Capital Management Inc. lifted its position in Alcoa by 32.5% during the 3rd quarter. Victory Capital Management Inc. now owns 543,086 shares of the industrial products company’s stock worth $20,952,000 after buying an additional 133,345 shares in the last quarter. KBC Group NV increased its position in shares of Alcoa by 45.3% in the third quarter. KBC Group NV now owns 6,537 shares of the industrial products company’s stock valued at $252,000 after acquiring an additional 2,037 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new stake in Alcoa during the third quarter worth about $316,000. Mutual of America Capital Management LLC boosted its position in Alcoa by 35.8% during the third quarter. Mutual of America Capital Management LLC now owns 139,619 shares of the industrial products company’s stock valued at $5,387,000 after purchasing an additional 36,812 shares during the last quarter. Finally, Swiss National Bank grew its stake in Alcoa by 30.5% in the third quarter. Swiss National Bank now owns 460,913 shares of the industrial products company’s stock valued at $17,782,000 after purchasing an additional 107,719 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Stock Performance

AA opened at $34.78 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The company has a market capitalization of $9.00 billion, a PE ratio of -217.38, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. The business has a fifty day simple moving average of $35.40 and a 200 day simple moving average of $37.97. Alcoa Co. has a 1 year low of $27.12 and a 1 year high of $47.77.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Research analysts expect that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.15%. Alcoa’s dividend payout ratio is presently -250.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AA shares. Jefferies Financial Group dropped their price objective on Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. HC Wainwright increased their price target on shares of Alcoa to $90.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. BMO Capital Markets boosted their price objective on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Morgan Stanley cut their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, B. Riley raised Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.17.

Alcoa 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.