Crestline Management LP Acquires Shares of 50,630 Kaiser Aluminum Co. (NASDAQ:KALU)

Crestline Management LP bought a new stake in shares of Kaiser Aluminum Co. (NASDAQ:KALU - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 50,630 shares of the industrial products company's stock, valued at approximately $3,558,000. Crestline Management LP owned approximately 0.31% of Kaiser Aluminum at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cetera Investment Advisers purchased a new stake in Kaiser Aluminum in the 4th quarter valued at about $276,000. Bridgeway Capital Management LLC acquired a new position in Kaiser Aluminum in the fourth quarter valued at approximately $4,581,000. Bastion Asset Management Inc. acquired a new position in Kaiser Aluminum in the fourth quarter valued at approximately $1,878,000. Mercer Global Advisors Inc. ADV purchased a new stake in Kaiser Aluminum in the fourth quarter valued at approximately $816,000. Finally, Jane Street Group LLC lifted its stake in Kaiser Aluminum by 44.2% in the fourth quarter. Jane Street Group LLC now owns 13,030 shares of the industrial products company's stock valued at $916,000 after buying an additional 3,991 shares during the last quarter. Hedge funds and other institutional investors own 99.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KALU. Wolfe Research upgraded Kaiser Aluminum from an "underperform" rating to a "peer perform" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. raised their price objective on Kaiser Aluminum from $62.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Benchmark dropped their price objective on Kaiser Aluminum from $100.00 to $74.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Finally, StockNews.com upgraded Kaiser Aluminum from a "sell" rating to a "hold" rating in a research report on Friday, April 18th.

Kaiser Aluminum Stock Performance

Shares of NASDAQ KALU traded up $3.67 during trading hours on Monday, hitting $71.35. 58,188 shares of the company's stock were exchanged, compared to its average volume of 138,994. Kaiser Aluminum Co. has a 1-year low of $46.81 and a 1-year high of $102.42. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.44 and a quick ratio of 1.36. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 24.84 and a beta of 1.40. The company's 50-day moving average price is $62.05 and its 200-day moving average price is $70.27.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.91. The firm had revenue of $777.40 million for the quarter, compared to analyst estimates of $788.00 million. Kaiser Aluminum had a return on equity of 6.25% and a net margin of 1.55%. The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $1.02 EPS. On average, sell-side analysts expect that Kaiser Aluminum Co. will post 5.14 earnings per share for the current fiscal year.

Kaiser Aluminum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Friday, April 25th. Kaiser Aluminum's dividend payout ratio is presently 115.36%.

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.