Tejara Capital Ltd Takes Position in Alcoa $AA

Key Points

• Tejara Capital Ltd recently acquired 55,500 shares of Alcoa, valued at approximately $1.69 million, signaling institutional interest in the company.
• Alcoa's latest earnings report showed a Q2 EPS of $0.39, surpassing analysts' estimates, with revenue increasing by 3.9% year-over-year.
• The company declared a quarterly dividend of $0.10, translating to a 1.3% annual yield, with a payout ratio of 10.44%.

Tejara Capital Ltd acquired a new stake in Alcoa (NYSE:AA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 55,500 shares of the industrial products company's stock, valued at approximately $1,693,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its position in Alcoa by 61.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,914 shares of the industrial products company's stock valued at $516,000 after purchasing an additional 6,447 shares during the period. GAMMA Investing LLC boosted its stake in shares of Alcoa by 58.8% during the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company's stock worth $70,000 after purchasing an additional 851 shares during the period. Drummond Knight Asset Management Pty Ltd purchased a new stake in shares of Alcoa in the 4th quarter worth approximately $19,646,000. SG Americas Securities LLC raised its stake in shares of Alcoa by 630.4% during the 1st quarter. SG Americas Securities LLC now owns 28,955 shares of the industrial products company's stock worth $883,000 after acquiring an additional 24,991 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Alcoa by 10.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 19,087 shares of the industrial products company's stock worth $582,000 after acquiring an additional 1,831 shares in the last quarter.

Alcoa Trading Up 0.7%

Shares of Alcoa stock traded up $0.2060 during trading on Tuesday, hitting $29.8360. 3,912,912 shares of the company were exchanged, compared to its average volume of 5,965,875. The firm has a market capitalization of $7.72 billion, a P/E ratio of 7.79, a price-to-earnings-growth ratio of 0.18 and a beta of 2.24. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.65 and a quick ratio of 0.97. The firm's fifty day moving average price is $29.92 and its 200 day moving average price is $29.85. Alcoa has a 1-year low of $21.53 and a 1-year high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. Alcoa had a return on equity of 19.18% and a net margin of 7.86%.The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the firm earned $0.16 EPS. The business's quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts expect that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. Alcoa's payout ratio is 10.44%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Alcoa from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Wall Street Zen downgraded shares of Alcoa from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Barclays increased their target price on shares of Alcoa to $31.00 and gave the company a "hold" rating in a research report on Friday, May 16th. UBS Group reaffirmed a "neutral" rating and set a $31.00 target price on shares of Alcoa in a research note on Thursday, May 15th. Finally, B. Riley reduced their target price on shares of Alcoa from $38.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $41.23.

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.