Raymond James Financial Inc. Invests $2.25 Million in Kaiser Aluminum Co. (NASDAQ:KALU)

Raymond James Financial Inc. purchased a new stake in Kaiser Aluminum Co. (NASDAQ:KALU - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 31,943 shares of the industrial products company's stock, valued at approximately $2,245,000. Raymond James Financial Inc. owned approximately 0.20% of Kaiser Aluminum at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KALU. Wellington Management Group LLP lifted its stake in shares of Kaiser Aluminum by 103.6% in the fourth quarter. Wellington Management Group LLP now owns 431,980 shares of the industrial products company's stock valued at $30,355,000 after buying an additional 219,827 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Kaiser Aluminum during the fourth quarter valued at approximately $3,878,000. American Century Companies Inc. grew its holdings in Kaiser Aluminum by 12.6% during the fourth quarter. American Century Companies Inc. now owns 447,723 shares of the industrial products company's stock worth $31,461,000 after buying an additional 49,948 shares in the last quarter. Norges Bank bought a new position in Kaiser Aluminum during the 4th quarter valued at $3,312,000. Finally, Stephens Inc. AR purchased a new stake in Kaiser Aluminum in the 4th quarter valued at about $3,150,000. Institutional investors and hedge funds own 99.29% of the company's stock.

Kaiser Aluminum Stock Performance

NASDAQ KALU traded down $1.35 on Tuesday, hitting $67.64. 135,245 shares of the company traded hands, compared to its average volume of 138,721. The company has a current ratio of 2.44, a quick ratio of 1.36 and a debt-to-equity ratio of 1.56. The business's 50 day moving average price is $62.16 and its 200-day moving average price is $70.30. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 23.57 and a beta of 1.40. Kaiser Aluminum Co. has a 52-week low of $46.81 and a 52-week high of $102.42.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The industrial products company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.91. Kaiser Aluminum had a net margin of 1.55% and a return on equity of 6.25%. The firm had revenue of $777.40 million during the quarter, compared to analyst estimates of $788.00 million. During the same period last year, the firm posted $1.02 earnings per share. Kaiser Aluminum's revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts expect that Kaiser Aluminum Co. will post 5.14 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Friday, April 25th. Kaiser Aluminum's dividend payout ratio (DPR) is presently 115.36%.

Wall Street Analyst Weigh In

KALU has been the topic of a number of recent analyst reports. Benchmark lowered their target price on Kaiser Aluminum from $100.00 to $74.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. boosted their price objective on Kaiser Aluminum from $62.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. StockNews.com upgraded Kaiser Aluminum from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Wolfe Research raised shares of Kaiser Aluminum from an "underperform" rating to a "peer perform" rating in a report on Friday, April 11th.

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.