Alcoa Reports Earnings
By Joseph Griesbeck, CFA - Editor, Ownership Intelligence
Aluminum company Alcoa (AA-N) kicked off the Q4 2011 earnings season this afternoon by reporting a loss of $.03 per share, in line with analysts’ expectations. Its shares rose 3% today as investors awaited the earnings announcement, and it is 2% higher in after hours trading.
Alcoa’s largest institutional shareholder is Capital World, which owns more than twice that of the next top active holder, JP Morgan Asset Management. With 52.2 million AA shares in its equity portfolio, Cap World has a near 5% stake after buying 8.8 million shares before the start of Q4 2011.
Of all investment styles, institutions whose portfolios mimic an index represent the largest group of investors in Alcoa. Owning nearly a third of all shares held by institutions, index investors are led by State Street, Vanguard, and BlackRock Institutional Trust, who all own at least 40 million shares.
According to their latest filings at the start of the fourth quarter, investors in the Americas hold 88% of all Alcoa shares held by institutions. Canadian investor IG Investment Management is the largest non-US Alcoa shareholder, and it owns 13.2 million shares worth $146 million after Friday’s close.