Northern Trust Corp Has $11.59 Million Stock Holdings in Kaiser Aluminum Corporation $KALU

Key Points

• Northern Trust Corp reduced its holdings in Kaiser Aluminum Corporation by 3.6%, selling 7,091 shares, and now owns approximately 191,110 shares valued at $11.58 million.
• Analysts have upgraded Kaiser Aluminum's rating from "hold" to "buy," and JPMorgan raised its price target on the stock from $64.00 to $82.00.
• Kaiser Aluminum recently reported a quarterly EPS of $1.21, exceeding estimates, with revenue of $823.10 million, surpassing the consensus estimate of $786.70 million.

Northern Trust Corp cut its holdings in Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) by 3.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 191,110 shares of the industrial products company's stock after selling 7,091 shares during the quarter. Northern Trust Corp owned about 1.18% of Kaiser Aluminum worth $11,585,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. American Century Companies Inc. grew its position in shares of Kaiser Aluminum by 11.5% in the 1st quarter. American Century Companies Inc. now owns 499,314 shares of the industrial products company's stock valued at $30,268,000 after purchasing an additional 51,591 shares during the period. Public Sector Pension Investment Board grew its position in shares of Kaiser Aluminum by 27.5% in the 1st quarter. Public Sector Pension Investment Board now owns 50,570 shares of the industrial products company's stock valued at $3,066,000 after purchasing an additional 10,898 shares during the period. Nuveen LLC acquired a new position in Kaiser Aluminum during the 1st quarter worth approximately $2,622,000. Harvest Investment Advisors LLC boosted its position in Kaiser Aluminum by 6.4% during the 1st quarter. Harvest Investment Advisors LLC now owns 19,759 shares of the industrial products company's stock worth $1,198,000 after acquiring an additional 1,185 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Kaiser Aluminum during the 1st quarter worth approximately $430,000. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KALU. JPMorgan Chase & Co. upped their price target on Kaiser Aluminum from $64.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Wall Street Zen raised Kaiser Aluminum from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Kaiser Aluminum currently has an average rating of "Hold" and an average price target of $78.00.

Kaiser Aluminum Stock Up 1.4%

Shares of NASDAQ KALU traded up $1.02 during trading hours on Wednesday, hitting $75.52. The company had a trading volume of 82,706 shares, compared to its average volume of 81,697. The stock has a market capitalization of $1.22 billion, a P/E ratio of 19.41 and a beta of 1.54. The company has a quick ratio of 1.30, a current ratio of 2.70 and a debt-to-equity ratio of 1.39. Kaiser Aluminum Corporation has a 1-year low of $46.81 and a 1-year high of $97.00. The firm's 50 day moving average is $80.26 and its 200-day moving average is $72.23.

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

Kaiser Aluminum Announces Dividend

The business also recently disclosed 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 4.1%. The ex-dividend date of this dividend was Friday, July 25th. Kaiser Aluminum's dividend payout ratio is presently 79.18%.

Kaiser Aluminum 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.