Victory Capital Management Inc. Decreases Stock Holdings in Kaiser Aluminum Corporation (NASDAQ:KALU)

Victory Capital Management Inc. lowered its position in shares of Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) by 28.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 321,382 shares of the industrial products company's stock after selling 130,381 shares during the period. Victory Capital Management Inc. owned approximately 2.00% of Kaiser Aluminum worth $19,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Stephens Inc. AR increased its holdings in shares of Kaiser Aluminum by 15.7% during the 1st quarter. Stephens Inc. AR now owns 51,846 shares of the industrial products company's stock worth $3,143,000 after buying an additional 7,016 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Kaiser Aluminum by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 89,754 shares of the industrial products company's stock worth $5,441,000 after buying an additional 1,984 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Kaiser Aluminum during the 1st quarter worth approximately $369,000. Avidian Wealth Enterprises LLC increased its holdings in shares of Kaiser Aluminum by 15.8% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 4,118 shares of the industrial products company's stock worth $250,000 after buying an additional 561 shares during the last quarter. Finally, QRG Capital Management Inc. increased its holdings in shares of Kaiser Aluminum by 16.8% during the 1st quarter. QRG Capital Management Inc. now owns 4,189 shares of the industrial products company's stock worth $254,000 after buying an additional 601 shares during the last quarter. Institutional investors and hedge funds own 99.29% of the company's stock.

Kaiser Aluminum Stock Down 5.9%

KALU stock traded down $5.21 during midday trading on Friday, hitting $82.91. The company's stock had a trading volume of 185,162 shares, compared to its average volume of 137,863. The company has a quick ratio of 1.27, a current ratio of 2.70 and a debt-to-equity ratio of 1.39. Kaiser Aluminum Corporation has a 52-week low of $46.81 and a 52-week high of $97.00. The firm has a market capitalization of $1.34 billion, a P/E ratio of 21.31 and a beta of 1.44. The firm has a 50-day simple moving average of $80.13 and a 200-day simple moving average of $71.20.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last issued its quarterly earnings results 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. Kaiser Aluminum had a net margin of 2.05% and a return on equity of 8.03%. The company had revenue of $823.10 million during the quarter, compared to analysts' expectations of $786.70 million. As a group, equities analysts forecast that Kaiser Aluminum Corporation will post 5.14 EPS for the current year.

Kaiser Aluminum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be given a $0.77 dividend. The ex-dividend date is Friday, July 25th. This represents a $3.08 annualized dividend and a yield of 3.71%. Kaiser Aluminum's dividend payout ratio is presently 79.18%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KALU. Wolfe Research upgraded shares of Kaiser Aluminum from an "underperform" rating to a "peer perform" rating in a report on Friday, April 11th. Wall Street Zen raised shares of Kaiser Aluminum from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. JPMorgan Chase & Co. increased their price objective on shares of Kaiser Aluminum from $62.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Finally, Benchmark lowered their price objective on shares of Kaiser Aluminum from $100.00 to $74.00 and set a "buy" rating for the company in a research report on Monday, April 21st.

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.