Wellington Management Group LLP Increases Stake in Kaiser Aluminum Corporation $KALU

Key Points

• Wellington Management Group LLP increased its stake in Kaiser Aluminum Corporation by 5.1% during Q1, owning 454,114 shares worth approximately $27.5 million.
• Kaiser Aluminum reported a strong earnings performance, with earnings per share of $1.21, significantly higher than analysts' estimates of $0.49, and revenue of $823.1 million.
• The company declared a quarterly dividend of $0.77 per share, equating to an annualized dividend of $3.08 and a yield of 3.9%.

Wellington Management Group LLP lifted its stake in shares of Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 454,114 shares of the industrial products company's stock after acquiring an additional 22,134 shares during the period. Wellington Management Group LLP owned 2.81% of Kaiser Aluminum worth $27,528,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Kaiser Aluminum during the 4th quarter worth approximately $2,245,000. Barclays PLC increased its position in Kaiser Aluminum by 5.0% during the 4th quarter. Barclays PLC now owns 28,831 shares of the industrial products company's stock worth $2,027,000 after purchasing an additional 1,377 shares in the last quarter. First Trust Advisors LP increased its position in Kaiser Aluminum by 48.9% during the 4th quarter. First Trust Advisors LP now owns 35,886 shares of the industrial products company's stock worth $2,522,000 after purchasing an additional 11,784 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Kaiser Aluminum by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 790,046 shares of the industrial products company's stock worth $55,517,000 after purchasing an additional 14,296 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in Kaiser Aluminum by 5.0% during the 4th quarter. MetLife Investment Management LLC now owns 9,705 shares of the industrial products company's stock worth $682,000 after purchasing an additional 462 shares in the last quarter. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Kaiser Aluminum Stock Up 5.0%

Shares of NASDAQ:KALU opened at $79.57 on Monday. 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 Corporation has a 52-week low of $46.81 and a 52-week high of $97.00. The company has a 50 day moving average of $80.51 and a two-hundred day moving average of $71.75. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 20.46 and a beta of 1.51.

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

Kaiser Aluminum Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Friday, July 25th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.9%. Kaiser Aluminum's dividend payout ratio (DPR) is presently 79.18%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of 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 downgraded shares of Kaiser Aluminum from a "buy" rating to a "hold" rating in a research report on Monday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $78.00.

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.

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