6,271 Shares in Kaiser Aluminum Corporation $KALU Acquired by Jennison Associates LLC

Key Points

• Jennison Associates LLC disclosed a new first-quarter stake in Kaiser Aluminum, buying 6,271 shares valued at about $756,000.
• Kaiser Aluminum reported a strong quarterly beat, posting $5.53 EPS versus the expected $2.66 and $1.26 billion in revenue, above estimates and up 52.7% year over year.
• The company declared a quarterly dividend of $0.77 per share, and analysts currently have a consensus Hold rating with an average price target of $165.50.

Jennison Associates LLC purchased a new stake in Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,271 shares of the industrial products company's stock, valued at approximately $756,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KALU. Farther Finance Advisors LLC raised its position in shares of Kaiser Aluminum by 389.3% in the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 218 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Kaiser Aluminum by 475.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 414 shares of the industrial products company's stock worth $33,000 after buying an additional 342 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Kaiser Aluminum by 408.3% during the 4th quarter. Global Retirement Partners LLC now owns 366 shares of the industrial products company's stock worth $42,000 after buying an additional 294 shares during the period. Quantbot Technologies LP acquired a new position in Kaiser Aluminum in the 2nd quarter valued at about $44,000. Finally, Tower Research Capital LLC TRC grew its stake in Kaiser Aluminum by 130.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 605 shares of the industrial products company's stock valued at $48,000 after buying an additional 343 shares during the last quarter. 99.29% of the stock is owned by institutional investors.

Kaiser Aluminum Trading Down 0.0%

KALU stock opened at $164.32 on Thursday. Kaiser Aluminum Corporation has a 52 week low of $71.44 and a 52 week high of $195.96. The company has a market capitalization of $2.68 billion, a PE ratio of 17.90 and a beta of 1.59. The company's 50-day simple moving average is $176.12 and its 200 day simple moving average is $150.31. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.14 and a current ratio of 2.47.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $5.53 earnings per share for the quarter, topping the consensus estimate of $2.66 by $2.87. The business had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.12 billion. Kaiser Aluminum had a net margin of 4.14% and a return on equity of 17.00%. The business's revenue was up 52.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.21 EPS. As a group, sell-side analysts anticipate that Kaiser Aluminum Corporation will post 9.11 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 24th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, July 24th. Kaiser Aluminum's payout ratio is presently 33.55%.

Insider Buying and Selling

In related news, Director Brett Wilcox sold 15,000 shares of the business's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $174.44, for a total value of $2,616,600.00. Following the completion of the sale, the director directly owned 9,887 shares in the company, valued at approximately $1,724,688.28. The trade was a 60.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard P. Grimley sold 1,524 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $171.52, for a total value of $261,396.48. Following the sale, the director directly owned 4,578 shares in the company, valued at $785,218.56. This represents a 24.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 71,731 shares of company stock valued at $12,529,097 in the last quarter. Corporate insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on KALU. Zacks Research cut shares of Kaiser Aluminum from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Weiss Ratings upgraded Kaiser Aluminum from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, April 24th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $142.00 target price (up from $124.00) on shares of Kaiser Aluminum in a research report on Thursday, April 30th. Wells Fargo & Company reiterated an "underweight" rating and set a $158.00 target price on shares of Kaiser Aluminum in a research note on Thursday, July 9th. Finally, UBS Group lifted their price target on Kaiser Aluminum from $176.00 to $179.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $165.50.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation is a U.S.-based producer of semi‐fabricated aluminum products, serving a diverse range of industrial and specialty markets. The company's offerings include extruded, rolled, and forged aluminum products designed to meet stringent performance requirements in sectors such as aerospace, automotive, defense, electronics, and general engineering. By focusing on high‐value applications, Kaiser Aluminum aims to deliver lightweight, durable solutions that contribute to efficiency and innovation across its customer base.

Operationally, Kaiser Aluminum maintains a network of smelters, extrusion plants, and rolling mills located primarily in North America.

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