Jupiter Topco LLC Acquires Shares of 117,274 Alcoa $AA

Key Points

• Jupiter Topco LLC acquired 117,274 Alcoa shares during the second quarter, valued at approximately $6.1 million. Several other institutional investors, including First Trust Advisors and Invesco, also increased their positions.
• Alcoa’s executive vice president Tammi A. Jones sold 15,628 shares for about $790,777, reducing her direct ownership by 28.19%. The stock opened at $50.05, down 0.5%.
• Alcoa reported quarterly revenue of $3.97 billion and earnings of $2.12 per share, missing analysts’ estimates for both. Analyst sentiment is mixed, with an average “Hold” rating and a consensus price target of $61.09; the company also maintains a quarterly dividend of $0.10 per share.

Jupiter Topco LLC bought a new position in shares of Alcoa (NYSE:AA - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 117,274 shares of the industrial products company's stock, valued at approximately $6,116,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC grew its stake in Alcoa by 1,098.0% in the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company's stock worth $357,000 after purchasing an additional 10,727 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Alcoa by 0.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company's stock valued at $19,722,000 after purchasing an additional 4,624 shares in the last quarter. Invesco Ltd. raised its position in Alcoa by 1.9% during the 2nd quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company's stock valued at $18,902,000 after purchasing an additional 12,008 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Alcoa by 173.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company's stock worth $60,000 after buying an additional 1,295 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Alcoa by 320.1% in the 2nd quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company's stock worth $7,967,000 after buying an additional 205,717 shares during the period.

Insider Activity at Alcoa

In other news, EVP Tammi A. Jones sold 15,628 shares of the firm's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $50.60, for a total value of $790,776.80. Following the sale, the executive vice president directly owned 39,819 shares in the company, valued at approximately $2,014,841.40. This trade represents a 28.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alcoa Trading Down 0.5%

AA opened at $50.05 on Tuesday. The firm has a market cap of $13.21 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 0.57 and a beta of 1.63. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. Alcoa has a 12 month low of $30.21 and a 12 month high of $84.38. The stock has a fifty day moving average price of $48.86 and a 200-day moving average price of $59.87.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.13). Alcoa had a net margin of 9.48% and a return on equity of 18.90%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the business earned $0.39 EPS. As a group, equities research analysts anticipate that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, August 11th. Alcoa's dividend payout ratio is presently 8.23%.

Analyst Ratings Changes

Several brokerages have recently commented on AA. Zacks Research lowered Alcoa from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. Bank of America lowered their price objective on shares of Alcoa from $57.00 to $51.00 and set an "underperform" rating for the company in a research note on Thursday, July 9th. Wall Street Zen upgraded shares of Alcoa from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. UBS Group cut their target price on shares of Alcoa from $80.00 to $68.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Finally, B. Riley Financial reduced their price target on shares of Alcoa from $92.00 to $80.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Alcoa has an average rating of "Hold" and an average price target of $61.09.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company's operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa's product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.

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