Great Lakes Advisors LLC Sells 10,298 Shares of Kaiser Aluminum Corporation $KALU

Key Points

• Great Lakes Advisors LLC reduced its stake in Kaiser Aluminum Corporation by 16.5% during the first quarter, ending up with 52,168 shares valued at approximately $3.16 million.
• Kaiser Aluminum recently announced a $0.77 quarterly dividend, reflecting an annualized yield of 4.1%, with a payout ratio of 79.18%.
• The stock has received mixed ratings, with one upgrade to a "buy" from Wall Street Zen, while the consensus remains a "hold" with an average target price of $78.00.

Great Lakes Advisors LLC cut its holdings in shares of Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) by 16.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,168 shares of the industrial products company's stock after selling 10,298 shares during the period. Great Lakes Advisors LLC owned 0.32% of Kaiser Aluminum worth $3,162,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McIlrath & Eck LLC purchased a new stake in shares of Kaiser Aluminum in the 4th quarter worth about $121,000. Snowden Capital Advisors LLC purchased a new stake in Kaiser Aluminum in the fourth quarter worth about $205,000. AlphaQuest LLC boosted its position in Kaiser Aluminum by 385.7% during the 1st quarter. AlphaQuest LLC now owns 3,162 shares of the industrial products company's stock valued at $192,000 after acquiring an additional 2,511 shares in the last quarter. Headlands Technologies LLC boosted its position in Kaiser Aluminum by 128.5% during the 1st quarter. Headlands Technologies LLC now owns 3,338 shares of the industrial products company's stock valued at $202,000 after acquiring an additional 1,877 shares in the last quarter. Finally, Ethic Inc. purchased a new position in shares of Kaiser Aluminum during the 4th quarter worth approximately $272,000. Hedge funds and other institutional investors own 99.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised 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 research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Kaiser Aluminum presently has a consensus rating of "Hold" and an average target price of $78.00.

Kaiser Aluminum Stock Down 1.1%

Kaiser Aluminum stock traded down $0.84 during trading hours on Friday, hitting $76.53. The stock had a trading volume of 57,610 shares, compared to its average volume of 79,665. The stock's 50-day moving average price is $79.91 and its 200-day moving average price is $72.32. Kaiser Aluminum Corporation has a 12-month low of $46.81 and a 12-month high of $97.00. The company has a quick ratio of 1.30, a current ratio of 2.70 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $1.24 billion, a P/E ratio of 19.67 and a beta of 1.54.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The industrial products company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.72. The business had revenue of $823.10 million during the quarter, compared to analyst estimates of $786.70 million. Kaiser Aluminum had a return on equity of 8.03% and a net margin of 2.05%. Equities research analysts anticipate that Kaiser Aluminum Corporation will post 5.14 EPS for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were paid a dividend of $0.77 per share. The ex-dividend date was Friday, July 25th. This represents a $3.08 annualized dividend and a yield of 4.0%. Kaiser Aluminum's dividend payout ratio is currently 79.18%.

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.