Here Is Why These Four Stocks Are Sliding Today

Alcoa Inc (NYSE:AA) stock is taking a hit after the latest economic data from China show further signs of a growth slowdown. In November, imports fell by 8.7% year-over-year, while exports tumbled by 6.8%, pointing to a decrease in demand. The statistics for the aluminium industry dealt another blow to Alcoa, as Chinese aluminium companies reportedly exported 450,000 metric tons of unwrought aluminum, up by 15% year-over-year. This was a surprise as Chinese exports of aluminium have been decreasing for four consecutive months prior to November. Alcoa shares have tanked by as much as 4.5% during the first hours of trading today.

At the end of September, 12.6% of Alcoa Inc (NYSE:AA)’s common stock was held by 46 funds from our database, up from 45 at the end of the second quarter. Value investor Seth Klarman made a big play for Alcoa during the third quarter, initiating a huge position that amasses 52.3 million shares worth $505 million according to Baupost Group’s latest quarterly report. Robert Rodriguez and Steven Romick are also betting big on this stock, having upped their stake by 37% to 47.6 million shares valued at $460 million.

Fiscal fourth quarter financial results have sent Nordson Corporation (NASDAQ:NDSN) shares tumbling as well this morning, as the company missed both revenues and earnings expectations. Nordson reported $446.2 million in revenues, missing Wall Street’s estimates of $449.9 million, and earnings of $0.95 per share when adjusted for restructuring costs, below analysts’ consensus of $1.08 per share. During the first hour of trading, the stock fell as much as 8.3% before regaining some of the lost ground.

Hedge fund sentiment towards Nordson Corporation (NASDAQ:NDSN) significantly improved during the third quarter, as the number of hedge fund long positions increased to 17 from 10. Chuck Royce did not follow the main trend; he chose to reduce his exposure to the stock. In its latest 13F filing, Royce & Associates reported ownership of 477,696 shares worth $30.1 million.

Disclosure: none.