Daiwa Securities Group Inc. Sells 13,750 Shares of Alcoa Co. (NYSE:AA)

Daiwa Securities Group Inc. lowered its position in Alcoa Co. (NYSE:AA) by 39.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,900 shares of the industrial products company’s stock after selling 13,750 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Alcoa were worth $831,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AA. ANTIPODES PARTNERS Ltd bought a new position in Alcoa in the second quarter worth approximately $93,061,000. L1 Capital Pty Ltd purchased a new stake in Alcoa during the first quarter worth $72,658,000. Norges Bank purchased a new stake in Alcoa during the fourth quarter worth $45,730,000. ARGA Investment Management LP lifted its holdings in Alcoa by 202.2% during the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after buying an additional 997,912 shares during the period. Finally, Capital Research Global Investors lifted its holdings in Alcoa by 29.8% during the first quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock worth $69,869,000 after buying an additional 475,000 shares during the period.

Alcoa Price Performance

Shares of AA opened at $32.52 on Monday. The business’s 50-day moving average is $33.05 and its two-hundred day moving average is $35.53. The company has a market capitalization of $8.40 billion, a P/E ratio of -8.65 and a beta of 2.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. Alcoa Co. has a fifty-two week low of $23.07 and a fifty-two week high of $45.48.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period last year, the firm earned ($0.35) EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Research analysts predict that Alcoa Co. will post 0.7 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

Wall Street Analysts Forecast Growth

AA has been the subject of a number of analyst reports. Morgan Stanley lowered their target price on Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Citigroup increased their price objective on Alcoa from $32.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Wednesday, September 4th. Finally, UBS Group upgraded Alcoa from a “sell” rating to a “buy” rating and increased their price objective for the company from $32.00 to $38.00 in a report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Alcoa presently has a consensus rating of “Hold” and an average price target of $39.09.

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.