Norges Bank purchased a new position in shares of Kaiser Aluminum Co. (NASDAQ:KALU - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 47,132 shares of the industrial products company's stock, valued at approximately $3,312,000. Norges Bank owned 0.29% of Kaiser Aluminum at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of KALU. JPMorgan Chase & Co. increased its position in shares of Kaiser Aluminum by 53.2% during the fourth quarter. JPMorgan Chase & Co. now owns 77,429 shares of the industrial products company's stock valued at $5,441,000 after acquiring an additional 26,878 shares during the last quarter. LPL Financial LLC increased its stake in shares of Kaiser Aluminum by 54.0% during the fourth quarter. LPL Financial LLC now owns 16,135 shares of the industrial products company's stock worth $1,134,000 after buying an additional 5,661 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Kaiser Aluminum in the 4th quarter valued at about $295,000. American Century Companies Inc. raised its position in shares of Kaiser Aluminum by 12.6% during the 4th quarter. American Century Companies Inc. now owns 447,723 shares of the industrial products company's stock worth $31,461,000 after acquiring an additional 49,948 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in Kaiser Aluminum by 124.3% during the fourth quarter. Intech Investment Management LLC now owns 65,020 shares of the industrial products company's stock worth $4,569,000 after purchasing an additional 36,029 shares during the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
KALU has been the topic of several recent analyst reports. Wolfe Research upgraded shares of Kaiser Aluminum from an "underperform" rating to a "peer perform" rating in a research note on Friday, April 11th. StockNews.com lowered shares of Kaiser Aluminum from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th.
Read Our Latest Stock Analysis on Kaiser Aluminum
Kaiser Aluminum Stock Performance
Kaiser Aluminum stock traded up $0.33 during mid-day trading on Wednesday, reaching $54.94. 8,583 shares of the company were exchanged, compared to its average volume of 138,662. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.36 and a current ratio of 2.44. The firm's 50-day simple moving average is $65.24 and its two-hundred day simple moving average is $71.42. Kaiser Aluminum Co. has a twelve month low of $46.81 and a twelve month high of $102.42. The firm has a market cap of $884.53 million, a PE ratio of 19.09 and a beta of 1.32.
Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last released its earnings results on Wednesday, February 19th. The industrial products company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). The firm had revenue of $765.40 million during the quarter, compared to analyst estimates of $752.00 million. Kaiser Aluminum had a return on equity of 6.25% and a net margin of 1.55%. During the same quarter last year, the business posted $0.60 EPS. Equities analysts predict that Kaiser Aluminum Co. will post 5.14 earnings per share for the current fiscal year.
Kaiser Aluminum Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.61%. Kaiser Aluminum's payout ratio is currently 107.32%.
Kaiser Aluminum Profile
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Free Report)
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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