Vanguard Group Inc. Has $126.23 Million Position in 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. lowered its holdings in Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) by 3.7% during the first quarter, according to its most recent filing with the Securities & 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 12.89% of Kaiser Aluminum worth $126,228,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of KALU. Aquatic Capital Management LLC lifted its position in shares of 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 buying an additional 784 shares during the period. McIlrath & Eck LLC bought a new stake in Kaiser Aluminum in the fourth quarter valued at about $121,000. Tower Research Capital LLC TRC increased its holdings in Kaiser Aluminum by 325.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,768 shares of the industrial products company's stock valued at $124,000 after purchasing an additional 1,352 shares during the last quarter. Snowden Capital Advisors LLC bought a new stake in Kaiser Aluminum in the fourth quarter valued at about $205,000. Finally, Ethic Inc. bought a new stake in Kaiser Aluminum in the fourth quarter valued at about $272,000. Institutional investors and hedge funds own 99.29% of the company's stock.

Kaiser Aluminum Price Performance

Shares of KALU stock traded up $1.04 during trading hours on Tuesday, reaching $79.62. The company's stock had a trading volume of 16,849 shares, compared to its average volume of 135,387. The firm's 50 day simple moving average is $80.55 and its 200-day simple moving average is $71.81. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 20.48 and a beta of 1.51. 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 quick ratio of 1.30, a current ratio of 2.70 and a debt-to-equity ratio of 1.39.

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 the consensus estimate of $786.70 million. Kaiser Aluminum had a return on equity of 8.03% and a net margin of 2.05%. Sell-side analysts forecast that Kaiser Aluminum Corporation will post 5.14 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a $3.08 annualized dividend and a dividend yield of 3.9%. Kaiser Aluminum's dividend payout ratio (DPR) is 79.18%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased 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 downgraded Kaiser Aluminum from a "buy" rating to a "hold" rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Kaiser Aluminum currently has an average rating of "Hold" and a consensus price target of $78.00.

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.