Russell Investments Group Ltd. lifted its position in shares of Kaiser Aluminum Co. (NASDAQ:KALU – Free Report) by 10.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,171 shares of the industrial products company’s stock after acquiring an additional 21,192 shares during the quarter. Russell Investments Group Ltd. owned 1.41% of Kaiser Aluminum worth $20,211,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Kaiser Aluminum in the first quarter valued at approximately $132,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Kaiser Aluminum during the first quarter worth approximately $238,000. Central Pacific Bank Trust Division purchased a new stake in shares of Kaiser Aluminum in the first quarter valued at $476,000. Janney Montgomery Scott LLC increased its stake in Kaiser Aluminum by 16.6% in the first quarter. Janney Montgomery Scott LLC now owns 4,031 shares of the industrial products company’s stock valued at $360,000 after purchasing an additional 573 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Kaiser Aluminum by 20.6% in the 1st quarter. BNP Paribas Financial Markets now owns 15,780 shares of the industrial products company’s stock worth $1,410,000 after buying an additional 2,695 shares during the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on KALU shares. JPMorgan Chase & Co. upped their price objective on shares of Kaiser Aluminum from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Benchmark increased their price target on shares of Kaiser Aluminum from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 12th.
Check Out Our Latest Research Report on KALU
Kaiser Aluminum Stock Performance
NASDAQ KALU opened at $98.20 on Thursday. The business’s 50-day simple moving average is $93.35 and its 200-day simple moving average is $82.56. The firm has a market capitalization of $1.58 billion, a P/E ratio of 28.55 and a beta of 1.35. Kaiser Aluminum Co. has a 1-year low of $53.67 and a 1-year high of $102.42. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.66 and a quick ratio of 1.43.
Kaiser Aluminum (NASDAQ:KALU – Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.44. Kaiser Aluminum had a net margin of 1.85% and a return on equity of 8.40%. The firm had revenue of $738.00 million for the quarter, compared to analysts’ expectations of $733.34 million. During the same period in the previous year, the company posted $0.99 earnings per share. Kaiser Aluminum’s revenue was down 8.7% compared to the same quarter last year. Equities analysts predict that Kaiser Aluminum Co. will post 4.12 EPS for the current year.
Kaiser Aluminum Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 25th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $3.08 annualized dividend and a yield of 3.14%. Kaiser Aluminum’s dividend payout ratio is currently 89.53%.
Kaiser Aluminum Company Profile
Kaiser Aluminum Corporation, together with its subsidiaries, engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. It offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.
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