Invesco Ltd. Trims Position in Kaiser Aluminum Corporation $KALU

Key Points

• Invesco Ltd. reduced its stake in Kaiser Aluminum by 18.3%, holding now 431,480 shares worth approximately $26 million.
• Wal Street analysts have raised their rating on Kaiser Aluminum from "hold" to "buy" and increased the price target from $64 to $82, reflecting positive sentiment about the company's future growth.
• Kaiser Aluminum recently reported an earnings per share (EPS) of $1.21, exceeding expectations, along with a declared dividend of $0.77 per share, indicating a strong financial performance.

Invesco Ltd. trimmed its stake in shares of Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) by 18.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 431,480 shares of the industrial products company's stock after selling 96,455 shares during the period. Invesco Ltd. owned 2.67% of Kaiser Aluminum worth $26,156,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Headlands Technologies LLC grew its stake in Kaiser Aluminum by 128.5% during the first 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. Charles Schwab Investment Management Inc. lifted its position in Kaiser Aluminum by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 299,274 shares of the industrial products company's stock valued at $18,142,000 after purchasing an additional 956 shares during the last quarter. Leisure Capital Management lifted its position in Kaiser Aluminum by 32.6% during the first quarter. Leisure Capital Management now owns 13,142 shares of the industrial products company's stock valued at $797,000 after purchasing an additional 3,230 shares during the last quarter. Cetera Investment Advisers lifted its position in Kaiser Aluminum by 7.3% during the first quarter. Cetera Investment Advisers now owns 4,217 shares of the industrial products company's stock valued at $256,000 after purchasing an additional 287 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Kaiser Aluminum during the first quarter valued at $1,598,000. 99.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on KALU shares. JPMorgan Chase & Co. increased their price objective on shares of Kaiser Aluminum from $64.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Wall Street Zen lowered shares of Kaiser Aluminum from a "buy" rating to a "hold" rating in a research report on Monday. 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, the company currently has an average rating of "Hold" and an average price target of $78.00.

Kaiser Aluminum Trading Down 1.2%

Shares of Kaiser Aluminum stock traded down $0.99 during trading on Monday, hitting $78.58. The stock had a trading volume of 67,761 shares, compared to its average volume of 121,295. The firm's fifty day simple moving average is $80.55 and its 200-day simple moving average is $71.81. The stock has a market cap of $1.27 billion, a PE ratio of 20.20 and a beta of 1.51. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.70 and a quick ratio of 1.30. Kaiser Aluminum Corporation has a 12 month low of $46.81 and a 12 month high of $97.00.

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

Kaiser Aluminum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.9%. The ex-dividend date 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.