Jupiter Topco LLC Invests $6.12 Million in Alcoa $AA

Jupiter Topco LLC bought a new position in shares of Alcoa (NYSE:AA) during the 2nd quarter, HoldingsChannel reports. The firm bought 117,274 shares of the industrial products company’s stock, valued at approximately $6,116,000.

Several other hedge funds also recently added to or reduced their stakes in AA. Basepoint Wealth LLC acquired a new stake in Alcoa in the fourth quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Alcoa during the second quarter worth about $25,000. Advisory Services Network LLC acquired a new position in shares of Alcoa during the third quarter valued at about $27,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 581 shares in the last quarter. Finally, Western Wealth Management LLC purchased a new position in shares of Alcoa in the 1st quarter valued at approximately $35,000.

Analyst Ratings Changes

A number of research firms recently commented on AA. B. Riley Financial lowered their target price on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Wells Fargo & Company decreased their price target on shares of Alcoa from $72.00 to $71.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Morgan Stanley reiterated an “equal weight” rating and set a $53.00 price objective (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th. Zacks Research lowered shares of Alcoa from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Finally, Argus cut their target price on Alcoa from $73.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $61.09.

Insider Transactions at Alcoa

In related news, EVP Tammi A. Jones sold 15,628 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $50.60, for a total transaction of $790,776.80. Following the completion of the transaction, the executive vice president directly owned 39,819 shares in the company, valued at $2,014,841.40. The trade was a 28.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Alcoa Price Performance

Shares of NYSE AA opened at $50.05 on Tuesday. Alcoa has a 52 week low of $30.21 and a 52 week high of $84.38. The business’s 50 day moving average price is $48.86 and its 200 day moving average price is $59.87. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. The firm has a market cap of $13.21 billion, a P/E ratio of 10.30, a P/E/G ratio of 0.57 and a beta of 1.63.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the business posted $0.39 earnings per share. On average, sell-side analysts expect that Alcoa will post 6.55 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. Alcoa’s payout ratio is currently 8.23%.

About Alcoa

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.