Man Group plc Reduces Stake in Kaiser Aluminum Co. (NASDAQ:KALU)

Man Group plc decreased its stake in Kaiser Aluminum Co. (NASDAQ:KALU - Free Report) by 59.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,397 shares of the industrial products company's stock after selling 7,983 shares during the quarter. Man Group plc's holdings in Kaiser Aluminum were worth $379,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. AlphaQuest LLC boosted its position in Kaiser Aluminum by 497.2% during the fourth quarter. AlphaQuest LLC now owns 651 shares of the industrial products company's stock worth $46,000 after purchasing an additional 542 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Kaiser Aluminum during the fourth quarter worth approximately $52,000. KBC Group NV boosted its position in Kaiser Aluminum by 93.0% during the fourth quarter. KBC Group NV now owns 851 shares of the industrial products company's stock worth $60,000 after purchasing an additional 410 shares in the last quarter. Aquatic Capital Management LLC boosted its position in Kaiser Aluminum by 87.1% during the fourth quarter. Aquatic Capital Management LLC now owns 1,684 shares of the industrial products company's stock worth $118,000 after purchasing an additional 784 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Kaiser Aluminum by 325.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,768 shares of the industrial products company's stock worth $124,000 after purchasing an additional 1,352 shares in the last quarter. Hedge funds and other institutional investors own 99.29% of the company's stock.

Kaiser Aluminum Price Performance

NASDAQ KALU traded down $0.37 during trading hours on Friday, hitting $72.77. 95,681 shares of the company's stock traded hands, compared to its average volume of 138,564. The company has a market capitalization of $1.18 billion, a PE ratio of 25.36 and a beta of 1.40. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.44 and a quick ratio of 1.36. Kaiser Aluminum Co. has a 52-week low of $46.81 and a 52-week high of $100.07. The firm's 50-day moving average is $63.05 and its 200-day moving average is $69.56.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.91. Kaiser Aluminum had a return on equity of 6.25% and a net margin of 1.55%. The business had revenue of $777.40 million during the quarter, compared to analyst estimates of $788.00 million. During the same period in the prior year, the business earned $1.02 earnings per share. The business's revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that Kaiser Aluminum Co. will post 5.14 EPS for the current fiscal year.

Kaiser Aluminum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Friday, April 25th. Kaiser Aluminum's payout ratio is currently 115.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KALU. Wolfe Research upgraded Kaiser Aluminum from an "underperform" rating to a "peer perform" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. increased their target price on Kaiser Aluminum from $62.00 to $64.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Benchmark lowered their price target on Kaiser Aluminum from $100.00 to $74.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Finally, Wall Street Zen downgraded Kaiser Aluminum from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th.

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.