Voya Investment Management LLC Grows Stake in Kaiser Aluminum Corporation $KALU

Key Points

• Voya Investment Management LLC increased its stake in Kaiser Aluminum Corporation by 40.5%, now owning 18,628 shares valued at approximately $1.13 million.
• Kaiser Aluminum recently reported $1.21 earnings per share for the last quarter, significantly surpassing analysts' estimates of $0.49, and had revenues of $823.10 million.
• The company declared a quarterly dividend of $0.77 per share, reflecting a dividend yield of 4.2% and a payout ratio of 79.18%.

Voya Investment Management LLC boosted its position in Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) by 40.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,628 shares of the industrial products company's stock after purchasing an additional 5,372 shares during the period. Voya Investment Management LLC owned about 0.12% of Kaiser Aluminum worth $1,129,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. McIlrath & Eck LLC increased its stake in Kaiser Aluminum by 50.6% in the 1st quarter. McIlrath & Eck LLC now owns 2,598 shares of the industrial products company's stock valued at $157,000 after purchasing an additional 873 shares in the last quarter. AlphaQuest LLC increased its stake in Kaiser Aluminum by 385.7% in the 1st quarter. AlphaQuest LLC now owns 3,162 shares of the industrial products company's stock valued at $192,000 after purchasing an additional 2,511 shares in the last quarter. Headlands Technologies LLC increased its stake in Kaiser Aluminum by 128.5% in the 1st quarter. Headlands Technologies LLC now owns 3,338 shares of the industrial products company's stock valued at $202,000 after purchasing an additional 1,877 shares in the last quarter. Cetera Investment Advisers purchased a new position in Kaiser Aluminum during the fourth quarter worth $276,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Kaiser Aluminum during the first quarter worth $247,000. 99.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Kaiser Aluminum from $64.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Wall Street Zen raised Kaiser Aluminum from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $78.00.

Kaiser Aluminum Stock Down 2.4%

Shares of NASDAQ KALU opened at $73.93 on Wednesday. Kaiser Aluminum Corporation has a 1 year low of $46.81 and a 1 year high of $97.00. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 19.01 and a beta of 1.54. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.30 and a current ratio of 2.70. The stock's 50-day simple moving average is $78.45 and its 200-day simple moving average is $72.70.

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

Kaiser Aluminum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, July 25th. Kaiser Aluminum's payout ratio is presently 79.18%.

Kaiser Aluminum Company 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.

Want to see what other hedge funds are holding KALU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.