Bank of New York Mellon Corp Purchases New Holdings in Kaiser Aluminum Corporation $KALU

Key Points

• Bank of New York Mellon purchased 196,048 Kaiser Aluminum shares worth approximately $38.4 million, giving it a 1.20% stake. Institutional investors collectively own 99.29% of KALU.
• Kaiser Aluminum reported strong quarterly results, with EPS of $5.53 versus the $2.66 consensus estimate and revenue of $1.26 billion, up 52.7% year over year.
• The company declared a quarterly dividend of $0.77, equivalent to $3.08 annually and a 2.0% yield. Analysts’ consensus rating remains “Hold,” with an average price target of $168.25.

Bank of New York Mellon Corp purchased a new stake in Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 196,048 shares of the industrial products company's stock, valued at approximately $38,353,000. Bank of New York Mellon Corp owned approximately 1.20% of Kaiser Aluminum as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of KALU. Royal Bank of Canada boosted its stake in Kaiser Aluminum by 212.6% during the first quarter. Royal Bank of Canada now owns 5,815 shares of the industrial products company's stock worth $352,000 after buying an additional 3,955 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Kaiser Aluminum in the 1st quarter valued at $247,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Kaiser Aluminum by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,491 shares of the industrial products company's stock valued at $575,000 after buying an additional 397 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Kaiser Aluminum by 2.7% during the 1st 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 acquiring an additional 1,084 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of Kaiser Aluminum by 323.6% during the 1st quarter. Jane Street Group LLC now owns 55,190 shares of the industrial products company's stock worth $3,346,000 after acquiring an additional 42,160 shares during the period. 99.29% of the stock is currently owned by institutional investors.

Kaiser Aluminum Stock Performance

NASDAQ KALU opened at $156.38 on Friday. Kaiser Aluminum Corporation has a 1-year low of $73.08 and a 1-year high of $199.89. The company has a 50 day moving average of $169.70 and a 200-day moving average of $157.73. The company has a current ratio of 2.50, a quick ratio of 1.17 and a debt-to-equity ratio of 1.10. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 11.59 and a beta of 1.61.

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

Kaiser Aluminum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, July 24th. Kaiser Aluminum's payout ratio is currently 22.83%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on KALU shares. Wells Fargo & Company upped their target price 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. Weiss Ratings upgraded shares of Kaiser Aluminum from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 18th. Zacks Research raised Kaiser Aluminum from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. UBS Group increased their target price on Kaiser Aluminum from $176.00 to $179.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Finally, Wall Street Zen upgraded Kaiser Aluminum from a "buy" rating to a "strong-buy" rating in a research 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 issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $168.25.

Kaiser Aluminum 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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