Quadrature Capital Ltd Makes New Investment in Alcoa Corp (NYSE:AA)

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Quadrature Capital Ltd purchased a new position in shares of Alcoa Corp (NYSE:AA) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 109,285 shares of the industrial products company’s stock, valued at approximately $1,227,000. Quadrature Capital Ltd owned 0.06% of Alcoa as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in AA. Parallel Advisors LLC boosted its position in shares of Alcoa by 138.0% during the 2nd quarter. Parallel Advisors LLC now owns 2,230 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 1,293 shares in the last quarter. Cerebellum GP LLC acquired a new position in shares of Alcoa in the 2nd quarter worth approximately $127,000. TCTC Holdings LLC acquired a new position in shares of Alcoa in the 2nd quarter worth approximately $27,000. Signaturefd LLC grew its stake in shares of Alcoa by 1,029.4% in the 2nd quarter. Signaturefd LLC now owns 2,383 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 2,172 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of Alcoa by 933.6% in the 2nd quarter. IFP Advisors Inc now owns 2,522 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 2,278 shares during the last quarter.

Several research analysts have commented on the stock. ValuEngine cut shares of Alcoa from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 1st. Citigroup raised their target price on shares of Alcoa from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, June 16th. Zacks Investment Research upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Wednesday, June 17th. Deutsche Bank cut shares of Alcoa from a “buy” rating to a “hold” rating and set a $10.00 target price for the company. in a report on Monday, June 15th. Finally, B. Riley reiterated a “hold” rating and issued a $8.00 target price on shares of Alcoa in a report on Wednesday, June 3rd. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Alcoa has a consensus rating of “Hold” and an average target price of $14.50.

NYSE AA traded up $0.17 during trading on Friday, reaching $14.40. The company’s stock had a trading volume of 3,928,331 shares, compared to its average volume of 4,412,288. The company has a current ratio of 1.42, a quick ratio of 0.79 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $2.68 billion, a PE ratio of -4.17 and a beta of 2.22. The business has a 50-day moving average price of $14.11 and a 200-day moving average price of $10.78. Alcoa Corp has a 1-year low of $5.16 and a 1-year high of $23.47.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 15th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.36. Alcoa had a negative net margin of 6.72% and a negative return on equity of 3.16%. The firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the previous year, the company earned ($0.01) earnings per share. The company’s revenue was down 20.8% compared to the same quarter last year. As a group, analysts expect that Alcoa Corp will post -0.71 earnings per share for the current year.

Alcoa Profile

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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