Trexquant Investment LP Acquires New Position in Alcoa Corp. (NYSE:AA)

Trexquant Investment LP acquired a new stake in Alcoa Corp. (NYSE:AA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,871 shares of the industrial products company’s stock, valued at approximately $1,008,000.

Several other hedge funds have also recently made changes to their positions in AA. Parallel Advisors LLC purchased a new stake in shares of Alcoa Corp. during the first quarter valued at about $133,000. Pacer Advisors Inc. raised its stake in shares of Alcoa Corp. by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock valued at $142,000 after buying an additional 132 shares in the last quarter. NEXT Financial Group Inc raised its stake in shares of Alcoa Corp. by 2.4% in the second quarter. NEXT Financial Group Inc now owns 4,462 shares of the industrial products company’s stock valued at $146,000 after buying an additional 104 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of Alcoa Corp. by 220.6% in the second quarter. Global X Management Co. LLC now owns 5,803 shares of the industrial products company’s stock valued at $189,000 after buying an additional 3,993 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Alcoa Corp. by 42.3% in the first quarter. Van ECK Associates Corp now owns 5,566 shares of the industrial products company’s stock valued at $191,000 after buying an additional 1,654 shares in the last quarter.

Shares of Alcoa Corp. (NYSE:AA) opened at 38.62 on Thursday. Alcoa Corp. has a 52-week low of $20.53 and a 52-week high of $40.36. The firm has a market capitalization of $7.12 billion and a P/E ratio of 43.59. The company’s 50-day moving average price is $35.15 and its 200-day moving average price is $34.35. Alcoa Corp. also was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 20,670 call options on the stock. This is an increase of 456% compared to the average volume of 3,715 call options.

Alcoa Corp. (NYSE:AA) last released its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Alcoa Corp. had a net margin of 1.63% and a return on equity of 3.29%. The business’s revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS. On average, equities research analysts expect that Alcoa Corp. will post $2.80 EPS for the current fiscal year.

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Several analysts recently issued reports on the company. Zacks Investment Research lowered Alcoa Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. BMO Capital Markets restated a “buy” rating and set a $45.00 target price on shares of Alcoa Corp. in a report on Friday, June 2nd. Morgan Stanley lowered Alcoa Corp. from a “top pick” rating to a “buy” rating and raised their target price for the company from $43.00 to $47.00 in a report on Tuesday, June 27th. They noted that the move was a valuation call. Deutsche Bank AG restated a “hold” rating and set a $44.00 target price on shares of Alcoa Corp. in a report on Wednesday. Finally, Citigroup Inc. restated a “buy” rating and set a $45.00 target price on shares of Alcoa Corp. in a report on Saturday, July 22nd. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Alcoa Corp. has a consensus rating of “Buy” and a consensus price target of $39.00.

Alcoa Corp. Company Profile

Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.

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Institutional Ownership by Quarter for Alcoa Corp. (NYSE:AA)

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