Bank of New York Mellon Corp Has $10.22 Million Stock Holdings in Kaiser Aluminum Corporation (NASDAQ:KALU)

Bank of New York Mellon Corp lowered its holdings in Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,644 shares of the industrial products company's stock after selling 10,925 shares during the period. Bank of New York Mellon Corp owned about 1.05% of Kaiser Aluminum worth $10,223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in KALU. American Century Companies Inc. increased its holdings in Kaiser Aluminum by 12.6% during the fourth quarter. American Century Companies Inc. now owns 447,723 shares of the industrial products company's stock worth $31,461,000 after buying an additional 49,948 shares during the last quarter. Wellington Management Group LLP grew its position in shares of 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 buying an additional 219,827 shares during the period. Janney Montgomery Scott LLC bought a new position in Kaiser Aluminum during the 1st quarter valued at about $674,000. Raymond James Financial Inc. bought a new position in shares of Kaiser Aluminum in the 4th quarter worth approximately $2,245,000. Finally, Deutsche Bank AG raised its stake in Kaiser Aluminum by 54.0% during the 4th quarter. Deutsche Bank AG now owns 14,191 shares of the industrial products company's stock worth $997,000 after acquiring an additional 4,977 shares during the period. Institutional investors and hedge funds own 99.29% of the company's stock.

Analyst Upgrades and Downgrades

KALU has been the subject of a number of recent research reports. Wolfe Research raised Kaiser Aluminum from an "underperform" rating to a "peer perform" rating in a research note on Friday, April 11th. Wall Street Zen raised Kaiser Aluminum from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Benchmark lowered their target price on Kaiser Aluminum from $100.00 to $74.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. upped their price objective on Kaiser Aluminum from $62.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, April 28th.

Kaiser Aluminum Stock Performance

Shares of KALU opened at $91.53 on Tuesday. The company has a 50-day simple moving average of $78.34 and a two-hundred day simple moving average of $70.53. Kaiser Aluminum Corporation has a one year low of $46.81 and a one year high of $97.27. The firm has a market capitalization of $1.48 billion, a PE ratio of 34.28 and a beta of 1.44. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.67 and a quick ratio of 1.27.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.91. Kaiser Aluminum had a net margin of 1.43% and a return on equity of 7.02%. The firm had revenue of $777.40 million during the quarter, compared to the consensus estimate of $788.00 million. During the same quarter in the previous year, the firm posted $1.02 EPS. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts anticipate that Kaiser Aluminum Corporation will post 5.14 EPS for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $3.08 dividend on an annualized basis and a yield of 3.37%. Kaiser Aluminum's dividend payout ratio is presently 115.36%.

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.

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