Janney Montgomery Scott LLC Acquires Shares of 11,112 Kaiser Aluminum Corporation (NASDAQ:KALU)

Janney Montgomery Scott LLC acquired a new stake in shares of Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,112 shares of the industrial products company's stock, valued at approximately $674,000. Janney Montgomery Scott LLC owned about 0.07% of Kaiser Aluminum as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Bailard Inc. grew its position in Kaiser Aluminum by 73.8% in the fourth quarter. Bailard Inc. now owns 7,645 shares of the industrial products company's stock worth $537,000 after acquiring an additional 3,245 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Kaiser Aluminum in the 4th quarter valued at approximately $52,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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. Raymond James Financial Inc. purchased a new stake in Kaiser Aluminum during the 4th quarter valued at $2,245,000. Finally, Amundi boosted its stake in Kaiser Aluminum by 196.0% during the fourth quarter. Amundi now owns 8,934 shares of the industrial products company's stock worth $629,000 after buying an additional 5,916 shares during the period. 99.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on KALU shares. JPMorgan Chase & Co. raised their target price on shares of Kaiser Aluminum from $62.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. 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 upgraded Kaiser Aluminum from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, Benchmark cut their price target on shares of Kaiser Aluminum from $100.00 to $74.00 and set a "buy" rating on the stock in a report on Monday, April 21st.

Kaiser Aluminum Stock Up 2.4%

KALU stock traded up $1.94 during trading on Wednesday, hitting $84.17. 136,699 shares of the company's stock traded hands, compared to its average volume of 139,794. The business has a fifty day simple moving average of $72.67 and a two-hundred day simple moving average of $69.06. The company has a quick ratio of 1.27, a current ratio of 2.67 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $1.36 billion, a P/E ratio of 31.52 and a beta of 1.44. Kaiser Aluminum Corporation has a 1 year low of $46.81 and a 1 year high of $100.07.

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

Kaiser Aluminum Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 3.66%. Kaiser Aluminum's dividend payout ratio (DPR) 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.