Virtu Financial LLC Invests $973,000 in Alcoa (NYSE:AA)

Key Points

• Virtu Financial LLC acquired 31,906 shares of Alcoa (NYSE:AA), investing approximately $973,000 during the first quarter.
• Alcoa has recently reported a profit of $0.39 per share for the last quarter, surpassing analysts' expectations, and saw revenues increase by 3.9% year-over-year.
• The company declared a $0.10 quarterly dividend, set to be paid on August 28th, with a yield of 1.4% and a dividend payout ratio of 10.44%.

Virtu Financial LLC acquired a new position in Alcoa (NYSE:AA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 31,906 shares of the industrial products company's stock, valued at approximately $973,000.

Several other institutional investors have also recently made changes to their positions in AA. Bessemer Group Inc. raised its stake in Alcoa by 77.1% during the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock worth $26,000 after acquiring an additional 296 shares during the period. Versant Capital Management Inc raised its stake in Alcoa by 134.7% during the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock worth $28,000 after acquiring an additional 520 shares during the period. Point72 Hong Kong Ltd bought a new stake in Alcoa during the 4th quarter worth approximately $36,000. Montag A & Associates Inc. bought a new stake in Alcoa during the 1st quarter worth approximately $40,000. Finally, Continuum Advisory LLC raised its stake in Alcoa by 30.7% during the 4th quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company's stock worth $56,000 after acquiring an additional 345 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. B. Riley decreased 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. Barclays increased their price objective on shares of Alcoa to $31.00 and gave the company a "hold" rating in a report on Friday, May 16th. Morgan Stanley cut their price objective on shares of Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Friday, July 18th. JPMorgan Chase & Co. cut their price objective on shares of Alcoa from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Finally, UBS Group reaffirmed a "neutral" rating and set a $31.00 price objective on shares of Alcoa in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $41.23.

Alcoa Trading Down 2.8%

AA stock opened at $29.34 on Tuesday. The firm has a fifty day moving average price of $29.60 and a 200 day moving average price of $29.99. Alcoa has a fifty-two week low of $21.53 and a fifty-two 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 cap of $7.60 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 0.17 and a beta of 2.24.

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

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Tuesday, August 12th will be given a $0.10 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.4%. Alcoa's dividend payout ratio (DPR) 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.

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