Bank of America Corp DE Decreases Stake in Kaiser Aluminum Co. (NASDAQ:KALU)

Bank of America Corp DE lowered its stake in Kaiser Aluminum Co. (NASDAQ:KALU - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 134,173 shares of the industrial products company's stock after selling 4,442 shares during the quarter. Bank of America Corp DE owned approximately 0.83% of Kaiser Aluminum worth $9,428,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in Kaiser Aluminum by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 790,046 shares of the industrial products company's stock worth $55,517,000 after purchasing an additional 14,296 shares during the period. American Century Companies Inc. boosted its stake in Kaiser Aluminum by 12.6% in the 4th quarter. American Century Companies Inc. now owns 447,723 shares of the industrial products company's stock worth $31,461,000 after purchasing an additional 49,948 shares during the period. Wellington Management Group LLP boosted its stake 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 worth $30,355,000 after purchasing an additional 219,827 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Kaiser Aluminum by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 298,318 shares of the industrial products company's stock worth $20,963,000 after purchasing an additional 3,816 shares during the period. Finally, Tributary Capital Management LLC boosted its stake in Kaiser Aluminum by 9.3% in the 4th quarter. Tributary Capital Management LLC now owns 269,315 shares of the industrial products company's stock worth $18,925,000 after purchasing an additional 22,839 shares during the period. Institutional investors own 99.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Kaiser Aluminum from $62.00 to $64.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Benchmark lowered their price target on Kaiser Aluminum from $100.00 to $74.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Wolfe Research raised Kaiser Aluminum from an "underperform" rating to a "peer perform" rating in a report on Friday, April 11th. Finally, Wall Street Zen cut Kaiser Aluminum from a "buy" rating to a "hold" rating in a report on Saturday, May 24th.

Kaiser Aluminum Price Performance

Shares of NASDAQ:KALU traded up $0.10 on Thursday, hitting $73.14. The company's stock had a trading volume of 97,202 shares, compared to its average volume of 138,527. The company has a 50-day simple moving average of $62.93 and a 200 day simple moving average of $69.72. Kaiser Aluminum Co. has a 1 year low of $46.81 and a 1 year high of $100.49. The company has a market capitalization of $1.18 billion, a PE ratio of 25.48 and a beta of 1.40. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.44 and a quick ratio of 1.36.

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

Kaiser Aluminum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.21%. Kaiser Aluminum's dividend payout ratio is 115.36%.

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.