Bridgeway Capital Management LLC Has $6.62 Million Holdings in Kaiser Aluminum Corporation $KALU

Key Points

• Bridgeway Capital Management LLC increased its stake in Kaiser Aluminum Corporation by 67.4%, acquiring an additional 43,930 shares, bringing their total ownership to 109,124 shares valued at approximately $6.6 million.
• Kaiser Aluminum reported an earnings per share (EPS) of $1.21 for the last quarter, significantly surpassing the consensus estimate of $0.49, with revenue of $823.1 million also above expectations.
• The company announced a quarterly dividend of $0.77, resulting in an annualized dividend of $3.08 and a yield of 4.1%, with a payout ratio currently at 79.18%.

Bridgeway Capital Management LLC lifted its position in Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) by 67.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 109,124 shares of the industrial products company's stock after buying an additional 43,930 shares during the quarter. Bridgeway Capital Management LLC owned about 0.68% of Kaiser Aluminum worth $6,615,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in shares of Kaiser Aluminum by 11.5% in the 1st quarter. American Century Companies Inc. now owns 499,314 shares of the industrial products company's stock valued at $30,268,000 after purchasing an additional 51,591 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Kaiser Aluminum by 5.1% in the 1st quarter. Wellington Management Group LLP now owns 454,114 shares of the industrial products company's stock worth $27,528,000 after purchasing an additional 22,134 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Kaiser Aluminum by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 299,274 shares of the industrial products company's stock worth $18,142,000 after buying an additional 956 shares during the last quarter. Systematic Financial Management LP grew its stake in Kaiser Aluminum by 2.3% in the 1st quarter. Systematic Financial Management LP now owns 261,102 shares of the industrial products company's stock valued at $15,828,000 after buying an additional 5,922 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Kaiser Aluminum by 16.7% during the 4th quarter. Northern Trust Corp now owns 198,201 shares of the industrial products company's stock worth $13,928,000 after acquiring an additional 28,359 shares during the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KALU has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Kaiser Aluminum from $64.00 to $82.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Wall Street Zen raised Kaiser Aluminum from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $78.00.

Kaiser Aluminum Price Performance

NASDAQ KALU traded down $2.18 on Tuesday, hitting $74.50. 100,178 shares of the company were exchanged, compared to its average volume of 132,831. Kaiser Aluminum Corporation has a 1-year low of $46.81 and a 1-year high of $97.00. The firm has a 50 day moving average of $80.58 and a two-hundred day moving average of $72.19. 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 company has a market cap of $1.21 billion, a P/E ratio of 19.15 and a beta of 1.54.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The industrial products company reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.72. The company 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%. On average, equities analysts predict that Kaiser Aluminum Corporation will post 5.14 EPS for the current year.

Kaiser Aluminum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, July 25th. Kaiser Aluminum's dividend payout ratio (DPR) 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.