Assenagon Asset Management S.A. Invests $10.66 Million in Kaiser Aluminum Corporation $KALU

Key Points

• Assenagon Asset Management acquired 54,484 Kaiser Aluminum shares worth approximately $10.66 million, giving it a 0.33% stake. Institutional investors collectively own 99.29% of the company.
• Kaiser Aluminum reported strong quarterly results, with revenue rising 52.7% year over year to $1.26 billion and EPS of $5.53, beating estimates of $2.66.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $168.25, while shares recently traded at $187.10. The company also declared a quarterly dividend of $0.77 per share, yielding 1.6% annually.

Assenagon Asset Management S.A. purchased a new position in shares of Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 54,484 shares of the industrial products company's stock, valued at approximately $10,659,000. Assenagon Asset Management S.A. owned 0.33% of Kaiser Aluminum as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada increased its position in shares of Kaiser Aluminum by 212.6% in the first quarter. Royal Bank of Canada now owns 5,815 shares of the industrial products company's stock worth $352,000 after purchasing an additional 3,955 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Kaiser Aluminum in the first quarter valued at about $247,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Kaiser Aluminum by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,491 shares of the industrial products company's stock worth $575,000 after purchasing an additional 397 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Kaiser Aluminum by 2.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,971 shares of the industrial products company's stock worth $2,544,000 after purchasing an additional 1,084 shares during the period. Finally, Jane Street Group LLC grew its stake in Kaiser Aluminum by 323.6% during the first quarter. Jane Street Group LLC now owns 55,190 shares of the industrial products company's stock worth $3,346,000 after buying an additional 42,160 shares in the last quarter. Institutional investors and hedge funds own 99.29% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Kaiser Aluminum from $158.00 to $169.00 and gave the company an "underweight" rating in a research note on Friday, July 24th. Zacks Research upgraded Kaiser Aluminum from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. 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 report on Thursday, April 30th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Kaiser Aluminum in a research note on Tuesday, July 21st. Finally, Wall Street Zen raised Kaiser Aluminum from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Kaiser Aluminum has an average rating of "Hold" and a consensus target price of $168.25.

Kaiser Aluminum Stock Up 1.3%

Shares of NASDAQ:KALU opened at $187.10 on Tuesday. The firm has a market cap of $3.06 billion, a P/E ratio of 13.87 and a beta of 1.61. Kaiser Aluminum Corporation has a 12-month low of $71.44 and a 12-month high of $195.96. The business has a fifty day simple moving average of $174.33 and a 200 day simple moving average of $154.32. The company has a quick ratio of 1.17, a current ratio of 2.50 and a debt-to-equity ratio of 1.10.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $5.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.66 by $2.87. Kaiser Aluminum had a net margin of 5.49% and a return on equity of 24.71%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company earned $1.21 EPS. The company's revenue for the quarter was up 52.7% on a year-over-year basis. Analysts predict that Kaiser Aluminum Corporation will post 10.63 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 24th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, July 24th. Kaiser Aluminum's dividend payout ratio (DPR) is presently 22.83%.

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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