Wellington Management Group LLP Purchases 22,134 Shares of 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 grew its position in Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) by 5.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 454,114 shares of the industrial products company's stock after buying an additional 22,134 shares during the period. Wellington Management Group LLP owned approximately 2.81% of Kaiser Aluminum worth $27,528,000 as of its most recent SEC filing.

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

Kaiser Aluminum Stock Performance

NASDAQ KALU traded down $0.63 during trading hours on Friday, hitting $77.87. 64,089 shares of the company's stock traded hands, compared to its average volume of 99,884. The business's fifty day moving average price is $80.80 and its two-hundred day moving average price is $71.98. 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 market capitalization of $1.26 billion, a P/E ratio of 20.02 and a beta of 1.51. Kaiser Aluminum Corporation has a 52 week low of $46.81 and a 52 week high of $97.00.

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, beating the consensus estimate of $0.49 by $0.72. The company had revenue of $823.10 million during the quarter, compared to analyst estimates of $786.70 million. Kaiser Aluminum had a net margin of 2.05% and a return on equity of 8.03%. Equities research analysts predict that Kaiser Aluminum Corporation will post 5.14 EPS for the current year.

Kaiser Aluminum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, July 25th. Kaiser Aluminum's payout ratio is 79.18%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Kaiser Aluminum from $64.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Wall Street Zen cut shares of Kaiser Aluminum from a "buy" rating to a "hold" rating in a report on Monday, August 25th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target 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.