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

Daiwa Securities Group Inc. trimmed its stake in Alcoa Co. (NYSE:AA - Free Report) by 92.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. boosted its position in shares of Alcoa by 32.5% in the third 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 during the period. KBC Group NV boosted 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 worth $252,000 after buying an additional 2,037 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in Alcoa during the third quarter valued at $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 boosted its position in Alcoa by 30.5% during 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 during the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research firms recently issued reports on AA. HC Wainwright lifted their price objective on Alcoa to $90.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Jefferies Financial Group reduced their price objective on Alcoa from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, January 6th. BMO Capital Markets lifted their price objective on Alcoa to $43.00 and gave the company a "hold" rating in a research report on Friday, January 17th. JPMorgan Chase & Co. boosted their price target on Alcoa from $38.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Finally, Bank of America boosted their price target on Alcoa to $58.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $50.17.

Alcoa Stock Performance

AA traded down $0.90 on Friday, hitting $33.95. 4,711,621 shares of the stock traded hands, compared to its average volume of 5,242,556. Alcoa Co. has a 52 week low of $27.12 and a 52 week high of $47.77. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $8.79 billion, a PE ratio of -212.16, a P/E/G ratio of 0.19 and a beta of 2.55. The business has a fifty day moving average price of $35.33 and a two-hundred day moving average price of $37.94.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, research analysts predict that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.18%. Alcoa's dividend payout ratio is currently -250.00%.

About Alcoa

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.