Tidal Investments LLC Takes $1.35 Million Position in Kaiser Aluminum Corporation $KALU

Key Points

• Tidal Investments acquired 6,926 shares of Kaiser Aluminum worth approximately $1.35 million during the second quarter. Institutional investors collectively own 99.29% of the company.
• Kaiser Aluminum reported strong quarterly results, with adjusted earnings of $5.53 per share and revenue of $1.26 billion, exceeding analyst estimates and representing 52.7% year-over-year revenue growth.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $167.25, while Kaiser pays a quarterly dividend of $0.77 per share.

Tidal Investments LLC purchased a new stake in Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,926 shares of the industrial products company's stock, valued at approximately $1,355,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of KALU. Engineers Gate Manager LP raised its holdings in shares of Kaiser Aluminum by 33.5% in the 2nd quarter. Engineers Gate Manager LP now owns 10,333 shares of the industrial products company's stock valued at $2,021,000 after purchasing an additional 2,593 shares in the last quarter. Allworth Financial LP grew its stake in Kaiser Aluminum by 146.6% in the second quarter. Allworth Financial LP now owns 143 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 85 shares during the last quarter. Nykredit A S bought a new position in Kaiser Aluminum in the second quarter worth about $30,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Kaiser Aluminum during the second quarter valued at about $665,000. Finally, Navellier & Associates Inc. lifted its position in shares of Kaiser Aluminum by 20.2% during the second quarter. Navellier & Associates Inc. now owns 12,548 shares of the industrial products company's stock valued at $2,455,000 after buying an additional 2,105 shares during the last quarter. Institutional investors own 99.29% of the company's stock.

Kaiser Aluminum Price Performance

Shares of NASDAQ:KALU opened at $150.13 on Friday. Kaiser Aluminum Corporation has a twelve month low of $73.08 and a twelve month high of $199.89. The company has a current ratio of 2.50, a quick ratio of 1.17 and a debt-to-equity ratio of 1.10. The company has a market cap of $2.45 billion, a PE ratio of 11.13 and a beta of 1.61. The company's 50 day moving average is $163.93 and its 200 day moving average is $160.18.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $5.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $2.87. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.12 billion. Kaiser Aluminum had a net margin of 5.49% and a return on equity of 24.71%. The firm's revenue was up 52.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 earnings per share. On average, sell-side analysts forecast that Kaiser Aluminum Corporation will post 10.63 EPS for the current year.

Kaiser Aluminum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, July 24th. Kaiser Aluminum's dividend payout ratio (DPR) is currently 22.83%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised shares of Kaiser Aluminum from an "underweight" rating to an "equal weight" rating and decreased their target price for the company from $169.00 to $160.00 in a research report on Friday. Weiss Ratings downgraded Kaiser Aluminum from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, September 2nd. Wall Street Zen upgraded Kaiser Aluminum from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 2nd. Zacks Research raised Kaiser Aluminum from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. Finally, UBS Group raised Kaiser Aluminum from a "neutral" rating to a "buy" rating and upped their target price for the company from $179.00 to $184.00 in a research report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $167.25.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation is a manufacturer of semi-fabricated aluminum products. The company produces flat-rolled, extruded and forged aluminum products used by manufacturers in the aerospace, automotive, packaging, industrial and other specialized markets.

Its product portfolio includes aerospace plate and sheet, automotive body sheet, extruded shapes, rod and bar, forged components, and other customized aluminum products. Kaiser Aluminum serves original equipment manufacturers and suppliers that use aluminum for its light weight, strength, durability and recyclability.

The company traces its history to 1946 and operates manufacturing facilities in the United States.

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