5,600 Shares in Kaiser Aluminum Corporation $KALU Acquired by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new position in Kaiser Aluminum Corporation, purchasing 5,600 shares valued at approximately $339,000.
• Despite a recent decline in stock price, Kaiser Aluminum reported strong quarterly earnings, with earnings per share (EPS) of $1.21, significantly beating estimates.
• The company announced a quarterly dividend of $0.77 per share, reflecting an annualized dividend and yield of 4.0%.

Dynamic Technology Lab Private Ltd purchased a new position in Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,600 shares of the industrial products company's stock, valued at approximately $339,000.

Other hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Kaiser Aluminum by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,491 shares of the industrial products company's stock valued at $575,000 after acquiring an additional 397 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Kaiser Aluminum during the 1st quarter valued at $247,000. Bridgeway Capital Management LLC raised its holdings in Kaiser Aluminum by 67.4% during the 1st quarter. Bridgeway Capital Management LLC now owns 109,124 shares of the industrial products company's stock valued at $6,615,000 after acquiring an additional 43,930 shares during the period. PDT Partners LLC bought a new stake in Kaiser Aluminum during the 1st quarter valued at $435,000. Finally, Royal Bank of Canada raised its holdings in Kaiser Aluminum by 212.6% during the 1st quarter. Royal Bank of Canada now owns 5,815 shares of the industrial products company's stock valued at $352,000 after acquiring an additional 3,955 shares during the period. Institutional investors own 99.29% of the company's stock.

Kaiser Aluminum Stock Performance

NASDAQ KALU opened at $76.53 on Friday. The company has a 50-day simple moving average of $79.91 and a two-hundred day simple moving average of $72.32. The company has a quick ratio of 1.30, a current ratio of 2.70 and a debt-to-equity ratio of 1.39. Kaiser Aluminum Corporation has a 12-month low of $46.81 and a 12-month high of $97.00. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 19.67 and a beta of 1.54.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.72. The business had revenue of $823.10 million during the quarter, compared to analyst estimates of $786.70 million. Kaiser Aluminum had a net margin of 2.05% and a return on equity of 8.03%. On average, equities analysts forecast that Kaiser Aluminum Corporation will post 5.14 EPS for the current year.

Kaiser Aluminum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were issued a dividend of $0.77 per share. The ex-dividend date was Friday, July 25th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.0%. Kaiser Aluminum's dividend payout ratio is 79.18%.

Analysts Set New Price Targets

A number of brokerages have issued reports on KALU. JPMorgan Chase & Co. boosted their target price on shares of Kaiser Aluminum from $64.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Wall Street Zen raised shares of Kaiser Aluminum from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $78.00.

Kaiser Aluminum 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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