PDT Partners LLC Purchases New Position in Kaiser Aluminum Corporation $KALU

Key Points

• PDT Partners LLC purchased 7,169 shares of Kaiser Aluminum Corporation valued at approximately $435,000 in the 1st quarter, as per their SEC filing.
• JPMorgan Chase & Co. increased their price target for Kaiser Aluminum from $64.00 to $82.00 and assigned a "neutral" rating, while one analyst upgraded the stock to a "buy" rating.
• Kaiser Aluminum recently announced a quarterly dividend of $0.77 per share, yielding around 4.1%, with a dividend payout ratio of 79.18%.

PDT Partners LLC purchased a new stake in shares of Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,169 shares of the industrial products company's stock, valued at approximately $435,000.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new stake in shares of Kaiser Aluminum during the 1st quarter valued at approximately $674,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Kaiser Aluminum during the 1st quarter valued at approximately $1,598,000. Deutsche Bank AG increased its holdings in Kaiser Aluminum by 54.0% in the 4th quarter. Deutsche Bank AG now owns 14,191 shares of the industrial products company's stock valued at $997,000 after purchasing an additional 4,977 shares during the last quarter. Virtu Financial LLC acquired a new stake in Kaiser Aluminum in the 1st quarter valued at approximately $430,000. Finally, Wellington Management Group LLP increased its holdings in Kaiser Aluminum by 103.6% in the 4th quarter. Wellington Management Group LLP now owns 431,980 shares of the industrial products company's stock valued at $30,355,000 after purchasing an additional 219,827 shares during the last quarter. Hedge funds and other institutional investors own 99.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on KALU shares. JPMorgan Chase & Co. lifted 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 upgraded shares of Kaiser Aluminum from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $78.00.

Kaiser Aluminum Stock Down 2.7%

Shares of KALU stock traded down $2.08 on Tuesday, reaching $74.60. 56,060 shares of the stock were exchanged, compared to its average volume of 132,495. The company has a current ratio of 2.70, a quick ratio of 1.30 and a debt-to-equity ratio of 1.39. The business's 50 day moving average price is $80.58 and its 200 day moving average price is $72.19. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 19.18 and a beta of 1.54. Kaiser Aluminum Corporation has a twelve month low of $46.81 and a twelve month high of $97.00.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The industrial products company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.72. The firm had revenue of $823.10 million during the quarter, compared to the consensus estimate of $786.70 million. Kaiser Aluminum had a net margin of 2.05% and a return on equity of 8.03%. As a group, sell-side analysts expect that Kaiser Aluminum Corporation will post 5.14 earnings per share for the current fiscal year.

Kaiser Aluminum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were given a $0.77 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $3.08 dividend on an annualized basis and a yield of 4.1%. Kaiser Aluminum's payout ratio is 79.18%.

About Kaiser Aluminum

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.