Royce & Associates LP increased its position in Kaiser Aluminum Corp. (NASDAQ:KALU) by 3.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 648,100 shares of the industrial products company’s stock after buying an additional 21,950 shares during the period. Royce & Associates LP owned 3.77% of Kaiser Aluminum Corp. worth $51,783,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in Kaiser Aluminum Corp. by 36,359.9% in the first quarter. Victory Capital Management Inc. now owns 498,407 shares of the industrial products company’s stock worth $39,823,000 after buying an additional 497,040 shares during the period. Norges Bank bought a new stake in Kaiser Aluminum Corp. during the fourth quarter worth approximately $21,690,000. Aberdeen Asset Management PLC UK boosted its stake in Kaiser Aluminum Corp. by 46.5% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 531,197 shares of the industrial products company’s stock worth $41,269,000 after buying an additional 168,660 shares during the period. Pioneer Investment Management Inc. boosted its stake in Kaiser Aluminum Corp. by 126.3% in the third quarter. Pioneer Investment Management Inc. now owns 193,584 shares of the industrial products company’s stock worth $16,743,000 after buying an additional 108,040 shares during the period. Finally, Robecosam AG boosted its stake in Kaiser Aluminum Corp. by 150.0% in the first quarter. Robecosam AG now owns 125,000 shares of the industrial products company’s stock worth $9,900,000 after buying an additional 75,000 shares during the period. Institutional investors own 96.70% of the company’s stock.
Shares of Kaiser Aluminum Corp. (NASDAQ KALU) traded up 1.42% during mid-day trading on Friday, reaching $87.73. 171,214 shares of the company’s stock traded hands. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 15.46 and a beta of 0.57. The firm’s 50-day moving average is $83.09 and its 200 day moving average is $80.78. Kaiser Aluminum Corp. has a one year low of $69.41 and a one year high of $94.65.
Kaiser Aluminum Corp. (NASDAQ:KALU) last announced its earnings results on Wednesday, April 19th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.40. The business had revenue of $355.30 million for the quarter, compared to analyst estimates of $353.30 million. Kaiser Aluminum Corp. had a net margin of 6.12% and a return on equity of 9.46%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $1.51 earnings per share. Analysts predict that Kaiser Aluminum Corp. will post $4.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Thursday, April 27th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, April 25th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.28%. Kaiser Aluminum Corp.’s dividend payout ratio (DPR) is presently 45.25%.
KALU has been the subject of a number of recent analyst reports. Sidoti upgraded shares of Kaiser Aluminum Corp. from a “neutral” rating to a “buy” rating and set a $109.00 target price for the company in a research note on Monday, March 20th. TheStreet upgraded shares of Kaiser Aluminum Corp. from a “c” rating to a “b-” rating in a research note on Tuesday, February 21st. Cowen and Company restated an “outperform” rating and set a $96.00 price objective (up from $92.00) on shares of Kaiser Aluminum Corp. in a research note on Friday, April 21st. Finally, Zacks Investment Research cut shares of Kaiser Aluminum Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, February 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $92.14.
In related news, VP Neal E. West sold 2,500 shares of the stock in a transaction on Monday, April 24th. The stock was sold at an average price of $84.54, for a total transaction of $211,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Ray Parkinson sold 1,200 shares of the stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $78.16, for a total value of $93,792.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,577 shares of company stock worth $879,187. Insiders own 2.80% of the company’s stock.
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