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

Several other large investors have also bought and sold shares of the company. Janney Montgomery Scott LLC bought a new stake in shares of Kaiser Aluminum during the first quarter valued at approximately $674,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Kaiser Aluminum in the 1st quarter worth about $1,598,000. Deutsche Bank AG boosted its holdings in shares of Kaiser Aluminum by 54.0% during the 4th quarter. Deutsche Bank AG now owns 14,191 shares of the industrial products company's stock valued at $997,000 after acquiring an additional 4,977 shares during the last quarter. Raymond James Financial Inc. bought a new position in Kaiser Aluminum during the fourth quarter valued at approximately $2,245,000. Finally, Wellington Management Group LLP boosted its holdings in Kaiser Aluminum by 103.6% in the fourth quarter. Wellington Management Group LLP now owns 431,980 shares of the industrial products company's stock worth $30,355,000 after purchasing an additional 219,827 shares during the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Kaiser Aluminum Stock Performance

Shares of NASDAQ KALU traded up $3.79 during trading on Friday, hitting $79.57. The company had a trading volume of 183,910 shares, compared to its average volume of 121,358. The stock has a 50 day simple moving average of $80.51 and a 200 day simple moving average of $71.74. The firm has a market capitalization of $1.29 billion, a P/E ratio of 20.46 and a beta of 1.51. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.30 and a current ratio of 2.70. 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. Kaiser Aluminum had a net margin of 2.05% and a return on equity of 8.03%. The company had revenue of $823.10 million during the quarter, compared to analyst estimates of $786.70 million. As a group, analysts anticipate that Kaiser Aluminum Corporation will post 5.14 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were given a dividend of $0.77 per share. 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 presently 79.18%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wall Street Zen raised Kaiser Aluminum from a "hold" rating to a "buy" rating in a report on Sunday, August 17th. JPMorgan Chase & Co. upped their price objective on Kaiser Aluminum from $64.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Kaiser Aluminum has an average rating of "Hold" and an average target price of $78.00.

Kaiser Aluminum Company 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.