Alcoa $AA Shares Acquired by Trexquant Investment LP

Key Points

• Trexquant Investment LP significantly increased its stake in Alcoa by purchasing 474,500 shares, bringing its total ownership to 610,199 shares worth approximately $18.6 million.
• Alcoa reported $0.39 earnings per share (EPS) for the latest quarter, surpassing analyst expectations of $0.29, and its revenue for the quarter reached $3.02 billion.
• The company announced a quarterly dividend of $0.10, indicating a 1.3% yield and a payout ratio of 10.44%, with the payment scheduled for August 28th.

Trexquant Investment LP boosted its holdings in shares of Alcoa (NYSE:AA - Free Report) by 349.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 610,199 shares of the industrial products company's stock after acquiring an additional 474,500 shares during the quarter. Trexquant Investment LP owned 0.24% of Alcoa worth $18,611,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. CreativeOne Wealth LLC boosted its holdings in Alcoa by 7.7% during the 1st quarter. CreativeOne Wealth LLC now owns 10,681 shares of the industrial products company's stock valued at $326,000 after acquiring an additional 764 shares during the period. Ieq Capital LLC boosted its holdings in Alcoa by 258.9% during the 1st quarter. Ieq Capital LLC now owns 34,988 shares of the industrial products company's stock valued at $1,067,000 after acquiring an additional 25,239 shares during the period. Freedom Investment Management Inc. purchased a new position in Alcoa during the 1st quarter valued at $215,000. Jump Financial LLC boosted its holdings in Alcoa by 81.1% during the 1st quarter. Jump Financial LLC now owns 787,225 shares of the industrial products company's stock valued at $24,010,000 after acquiring an additional 352,630 shares during the period. Finally, SVB Wealth LLC purchased a new position in Alcoa during the 1st quarter valued at $137,000.

Analysts Set New Price Targets

Several brokerages have weighed in on AA. Morgan Stanley lowered their target price on Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Bank of America upped their target price on Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a report on Thursday, July 17th. Barclays upped their target price on Alcoa to $31.00 and gave the stock a "hold" rating in a report on Friday, May 16th. JPMorgan Chase & Co. lowered their target price on Alcoa from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Finally, Wall Street Zen cut Alcoa from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $41.23.

Alcoa Stock Down 3.9%

Shares of AA traded down $1.27 during trading hours on Tuesday, hitting $30.93. The company had a trading volume of 3,984,804 shares, compared to its average volume of 5,877,483. The company has a market capitalization of $8.01 billion, a PE ratio of 8.08, a price-to-earnings-growth 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 one year low of $21.53 and a one year high of $47.77. The company's fifty day moving average price is $30.45 and its two-hundred day moving average price is $29.51.

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

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Tuesday, August 12th were given 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 was Tuesday, August 12th. Alcoa's dividend payout ratio is currently 10.44%.

About Alcoa

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.