43,250 Shares in Kaiser Aluminum Corporation $KALU Bought by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in Kaiser Aluminum Corporation, purchasing 43,250 shares valued at approximately $2.622 million, which represents a 0.27% ownership of the company.
• Kaiser Aluminum recently reported better-than-expected earnings, with $1.21 earnings per share for the quarter, surpassing the consensus estimate of $0.49.
• The company has announced a quarterly dividend of $0.77 per share, reflecting an annualized yield of 3.9% and a payout ratio of 79.18%.

Nuveen LLC purchased a new stake in Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 43,250 shares of the industrial products company's stock, valued at approximately $2,622,000. Nuveen LLC owned 0.27% of Kaiser Aluminum as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KALU. Wellington Management Group LLP raised its holdings in Kaiser Aluminum by 103.6% in the 4th quarter. Wellington Management Group LLP now owns 431,980 shares of the industrial products company's stock valued at $30,355,000 after acquiring an additional 219,827 shares during the period. Bridgeway Capital Management LLC bought a new position in Kaiser Aluminum in the 4th quarter valued at about $4,581,000. Crestline Management LP bought a new position in Kaiser Aluminum in the 4th quarter valued at about $3,558,000. GAMMA Investing LLC raised its holdings in Kaiser Aluminum by 5,608.6% in the 1st quarter. GAMMA Investing LLC now owns 39,161 shares of the industrial products company's stock valued at $2,374,000 after acquiring an additional 38,475 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Kaiser Aluminum during the fourth quarter worth approximately $2,245,000. 99.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Wall Street Zen cut shares of Kaiser Aluminum from a "buy" rating to a "hold" rating in a report on Monday, August 25th. JPMorgan Chase & Co. raised their target price on shares of Kaiser Aluminum from $64.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Kaiser Aluminum presently has an average rating of "Hold" and a consensus price target of $78.00.

Kaiser Aluminum Price Performance

Kaiser Aluminum stock traded down $0.63 during mid-day trading on Friday, reaching $77.87. The company had a trading volume of 64,089 shares, compared to its average volume of 96,890. Kaiser Aluminum Corporation has a fifty-two week low of $46.81 and a fifty-two week high of $97.00. The company has a current ratio of 2.70, a quick ratio of 1.30 and a debt-to-equity ratio of 1.39. The company has a market cap of $1.26 billion, a P/E ratio of 22.31 and a beta of 1.54. The business has a fifty day simple moving average of $80.80 and a 200 day simple moving average of $71.98.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The industrial products company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.72. The firm had revenue of $823.10 million for 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%. On average, equities research analysts predict that Kaiser Aluminum Corporation will post 5.14 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, July 25th. Kaiser Aluminum's payout ratio 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.