Are Alcoa’s Sizable Shareholders Trimming Exposure on Growth Concerns?
As the fifth month of 2012 comes to a close, Alcoa, Inc.’s (NYSE:AA) shares are down .35 percent. Last week, the company postponed its expansion of an alumina refinery in Australia. This came from continuous pressure on aluminum prices. Alcoa had previously decided to slash its refining capacity in the Atlantic region, which provides about half of its 18 million tons of production capacity.
The company’s shares hit a 52-week low on the news but then rebounded. On Wednesday, its shares declined 3.49 percent to $8.58 from its exposure to global growth.
With the company’s recent decision to postpone its Australian expansion and the current global growth concerns, will Alcoa’s largest shareholders decrease their holdings? 460 institutional firms indicated owning shares of Alcoa, Inc. (NYSE:AA) in Q1 2012. These firms reported owning a total of 541.037 million shares on 03/31/2012 . The shares closed at $9.99 on 03/31/2012.
Here are the ten largest positions in Alcoa, Inc. at the end of March 31st, 2012.
State Street Corp held 54,997,035 shares on 03/31/2012 worth $551,070,316.
Alpine Associates Advisors held 29,800,000 shares on 03/31/2012 worth $49,673,000.
Blackrock Institutional Trust Company N.A. held 27,730,000 shares on 03/31/2012 worth $46,205,000.
Blackrock Institutional Trust Company N.A. held 27,430,040 shares on 03/31/2012 worth $274,849,013.
Manning & Napier Advisors LLC held 20,485,590 shares on 03/31/2012 worth $205,265,621.
Silverback Asset Management LLC held 19,639,000 shares on 03/31/2012 worth $32,748,000.
Hbk Investments LP held 18,930,000 shares on 03/31/2012 worth $31,549,000.
I.g. Investment Management Ltd. held 16,974,480 shares on 03/31/2012 worth $170,084,297.
Advent Capital Management /De/ held 15,977,000 shares on 03/31/2012 worth $25,922,000.
Blackrock Advisors LLC held 14,907,588 shares on 03/31/2012 worth $149,374,039.
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