Jump Financial LLC Boosts Stake in Alcoa $AA

Key Points

• Jump Financial LLC increased its stake in Alcoa by 81.1% in the first quarter, owning 787,225 shares valued at approximately $24 million.
• Alcoa's recent earnings report showed EPS of $0.39, exceeding analysts' estimates, along with a 3.9% year-over-year revenue growth, totaling $3.02 billion.
• The company declared a quarterly dividend of $0.10 per share, with an annualized yield of 1.3%, set to be paid on August 28th.

Jump Financial LLC lifted its holdings in Alcoa (NYSE:AA - Free Report) by 81.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 787,225 shares of the industrial products company's stock after purchasing an additional 352,630 shares during the quarter. Jump Financial LLC owned 0.30% of Alcoa worth $24,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Alcoa by 61.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,914 shares of the industrial products company's stock worth $516,000 after purchasing an additional 6,447 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Alcoa by 58.8% in the first 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 last quarter. Drummond Knight Asset Management Pty Ltd purchased a new position in shares of Alcoa in the fourth quarter worth $19,646,000. SG Americas Securities LLC raised its stake in shares of Alcoa by 630.4% in the first quarter. SG Americas Securities LLC now owns 28,955 shares of the industrial products company's stock worth $883,000 after purchasing an additional 24,991 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Alcoa by 10.6% in the first quarter. Janney Montgomery Scott LLC now owns 19,087 shares of the industrial products company's stock worth $582,000 after purchasing an additional 1,831 shares during the last quarter.

Alcoa Stock Performance

NYSE:AA opened at $31.69 on Friday. The stock has a 50-day simple moving average of $30.03 and a two-hundred day simple moving average of $29.79. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.65. The firm has a market capitalization of $8.20 billion, a PE ratio of 8.27, a P/E/G ratio of 0.17 and a beta of 2.24.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the company posted $0.16 earnings per share. Alcoa's revenue for the quarter was up 3.9% on a year-over-year basis. Analysts forecast that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AA. Barclays boosted their price target on Alcoa to $31.00 and gave the stock a "hold" rating in a research note on Friday, May 16th. Morgan Stanley reduced their price objective on Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. B. Riley reduced their price objective on Alcoa from $38.00 to $37.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. UBS Group reiterated a "neutral" rating and set a $31.00 price objective on shares of Alcoa in a research report on Thursday, May 15th. Finally, Wall Street Zen cut Alcoa from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $41.23.

Alcoa Company 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.

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