DRW Securities LLC Makes New $1.53 Million Investment in Alcoa $AA

Key Points

• DRW Securities LLC has acquired a new stake in Alcoa (NYSE:AA) worth approximately $1.53 million, purchasing 50,100 shares.
• Alcoa's quarterly earnings surpassed expectations, reporting $0.39 earnings per share and revenue of $3.02 billion, an increase of 3.9% year-over-year.
• The company recently declared a quarterly dividend of $0.10 per share, translating to an annual yield of 1.2% with a low dividend payout ratio of 10.44%.

DRW Securities LLC purchased a new position in Alcoa (NYSE:AA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 50,100 shares of the industrial products company's stock, valued at approximately $1,528,000.

A number of other large investors also recently modified their holdings of AA. Dimensional Fund Advisors LP boosted its position in Alcoa by 33.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,803,086 shares of the industrial products company's stock valued at $207,490,000 after purchasing an additional 1,721,222 shares during the period. Sourcerock Group LLC grew its position in shares of Alcoa by 319.1% during the fourth quarter. Sourcerock Group LLC now owns 1,978,009 shares of the industrial products company's stock worth $74,729,000 after acquiring an additional 1,506,009 shares during the last quarter. Northern Trust Corp grew its position in shares of Alcoa by 46.8% during the fourth quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company's stock worth $96,324,000 after acquiring an additional 813,214 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Alcoa in the 1st quarter worth about $23,339,000. Finally, Deutsche Bank AG lifted its position in Alcoa by 481.2% in the 1st quarter. Deutsche Bank AG now owns 907,117 shares of the industrial products company's stock valued at $27,667,000 after purchasing an additional 751,053 shares during the last quarter.

Alcoa Price Performance

NYSE:AA traded up $0.14 during mid-day trading on Wednesday, hitting $31.08. The company's stock had a trading volume of 5,831,490 shares, compared to its average volume of 4,677,049. The company has a market capitalization of $8.05 billion, a price-to-earnings ratio of 7.76, a P/E/G ratio of 0.18 and a beta of 2.26. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The stock has a fifty day moving average of $30.49 and a 200-day moving average of $29.52.

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

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, August 12th. Alcoa's payout ratio is currently 10.44%.

Analyst Upgrades and Downgrades

Several research firms have commented on AA. Citigroup upgraded shares of Alcoa to a "buy" rating and set a $42.00 target price for the company in a research report on Tuesday, July 8th. Morgan Stanley decreased their target price on Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. B. Riley cut their target price on shares of Alcoa from $38.00 to $37.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Barclays upped their price target on shares of Alcoa to $31.00 and gave the company a "hold" rating in a research report on Friday, May 16th. Finally, UBS Group reissued a "neutral" rating and set a $31.00 price target on shares of Alcoa in a research report on Thursday, May 15th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.