Vanguard Group Inc. Sells 79,548 Shares of Kaiser Aluminum Corporation $KALU

Key Points

• Vanguard Group Inc. reduced its stake in Kaiser Aluminum Corporation by 3.7% during Q1, now holding 2,082,283 shares valued at approximately $126.23 million.
• Several other institutional investors have also adjusted their positions, with Wellington Management Group increasing its holdings by 103.6% to 431,980 shares.
• Kaiser Aluminum reported earnings of $1.21 per share, exceeding estimates, alongside a quarterly dividend of $0.77 reflecting a yield of 4.1%.

Vanguard Group Inc. cut its holdings in shares of Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) by 3.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,082,283 shares of the industrial products company's stock after selling 79,548 shares during the quarter. Vanguard Group Inc. owned about 12.89% of Kaiser Aluminum worth $126,228,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KALU. Aquatic Capital Management LLC lifted its holdings in Kaiser Aluminum by 87.1% during the 4th 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 during the last quarter. McIlrath & Eck LLC acquired a new stake in Kaiser Aluminum during the 4th quarter worth approximately $121,000. Tower Research Capital LLC TRC lifted its holdings in Kaiser Aluminum by 325.0% during the 4th 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 during the last quarter. Snowden Capital Advisors LLC acquired a new stake in Kaiser Aluminum during the 4th quarter worth approximately $205,000. Finally, Ethic Inc. acquired a new stake in Kaiser Aluminum during the 4th quarter worth approximately $272,000. 99.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KALU has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on Kaiser Aluminum from $64.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Wall Street Zen cut Kaiser Aluminum from a "buy" rating to a "hold" rating in a report on Monday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $78.00.

Kaiser Aluminum Price Performance

NASDAQ KALU traded down $0.61 during midday trading on Wednesday, hitting $78.70. The company had a trading volume of 57,746 shares, compared to its average volume of 114,552. The company has a market capitalization of $1.27 billion, a PE ratio of 20.23 and a beta of 1.51. 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 firm has a 50-day moving average price of $80.68 and a 200-day moving average price of $71.91. Kaiser Aluminum Corporation has a twelve month low of $46.81 and a twelve month high of $97.00.

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

Kaiser Aluminum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were issued a $0.77 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $3.08 annualized dividend and a yield of 3.9%. Kaiser Aluminum's payout ratio is currently 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.