Kaiser Aluminum Corporation $KALU Position Trimmed by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital reduced its Kaiser Aluminum stake by 8.6% in the first quarter, selling 23,340 shares and retaining 248,409 shares worth approximately $29.9 million. Institutional investors collectively own 99.29% of the company.
• Kaiser Aluminum reported quarterly EPS of $5.53, significantly above the $2.66 consensus estimate, while revenue rose 52.7% year over year to $1.26 billion. The company also declared a quarterly dividend of $0.77 per share, representing a 2.0% annualized yield.
• The stock opened at $151.44 after declining 6.6%, while analysts maintain an overall “Hold” rating with an average price target of $168.25; ratings range from overweight to underweight.

Arrowstreet Capital Limited Partnership lessened its stake in shares of Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) by 8.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 248,409 shares of the industrial products company's stock after selling 23,340 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.52% of Kaiser Aluminum worth $29,936,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Kaiser Aluminum by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 2,117,791 shares of the industrial products company's stock worth $243,249,000 after buying an additional 5,823 shares during the period. State Street Corp increased its position in shares of Kaiser Aluminum by 31.9% in the second quarter. State Street Corp now owns 1,154,415 shares of the industrial products company's stock worth $92,238,000 after acquiring an additional 279,231 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Kaiser Aluminum by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 831,652 shares of the industrial products company's stock valued at $95,528,000 after acquiring an additional 13,909 shares during the period. Wellington Management Group LLP raised its holdings in shares of Kaiser Aluminum by 1.1% during the third quarter. Wellington Management Group LLP now owns 502,446 shares of the industrial products company's stock valued at $38,769,000 after acquiring an additional 5,623 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Kaiser Aluminum by 16.8% in the 4th quarter. Bank of New York Mellon Corp now owns 198,354 shares of the industrial products company's stock valued at $22,783,000 after acquiring an additional 28,495 shares in the last quarter. 99.29% of the stock is owned by institutional investors.

Kaiser Aluminum Trading Down 6.6%

NASDAQ:KALU opened at $151.44 on Thursday. Kaiser Aluminum Corporation has a 12 month low of $71.44 and a 12 month high of $195.96. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 11.23 and a beta of 1.59. The company has a quick ratio of 1.17, a current ratio of 2.50 and a debt-to-equity ratio of 1.10. The company's 50 day moving average is $175.60 and its 200-day moving average is $151.79.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $5.53 EPS for the quarter, topping the consensus estimate of $2.66 by $2.87. Kaiser Aluminum had a net margin of 5.49% and a return on equity of 24.71%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm posted $1.21 EPS. The business's quarterly revenue was up 52.7% on a year-over-year basis. Equities analysts anticipate that Kaiser Aluminum Corporation will post 9.11 EPS for the current year.

Kaiser Aluminum Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KALU. Wall Street Zen downgraded Kaiser Aluminum from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. UBS Group raised their price target on shares of Kaiser Aluminum from $176.00 to $179.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Wells Fargo & Company upped their price objective 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. KeyCorp lifted their target price on shares of Kaiser Aluminum from $170.00 to $183.00 and gave the company an "overweight" rating in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $142.00 price target (up from $124.00) on shares of Kaiser Aluminum in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Kaiser Aluminum currently has an average rating of "Hold" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.