Hsbc Holdings PLC purchased a new position in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 40,484 shares of the industrial products company’s stock, valued at approximately $3,614,000. Hsbc Holdings PLC owned about 0.25% of Kaiser Aluminum at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in KALU. Quantamental Technologies LLC acquired a new stake in shares of Kaiser Aluminum during the fourth quarter worth about $26,000. BlueMountain Capital Management LLC acquired a new stake in shares of Kaiser Aluminum during the third quarter worth about $121,000. LS Investment Advisors LLC increased its position in shares of Kaiser Aluminum by 285.9% during the fourth quarter. LS Investment Advisors LLC now owns 1,914 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 1,418 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Kaiser Aluminum during the third quarter worth about $203,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Kaiser Aluminum during the third quarter worth about $207,000. 95.98% of the stock is owned by institutional investors.
A number of research firms have recently commented on KALU. BidaskClub upgraded Kaiser Aluminum from a “hold” rating to a “buy” rating in a research report on Friday, December 7th. Zacks Investment Research upgraded Kaiser Aluminum from a “sell” rating to a “hold” rating in a research report on Friday, February 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Kaiser Aluminum has an average rating of “Hold” and an average price target of $108.43.
In related news, CEO Jack A. Hockema sold 4,500 shares of the business’s stock in a transaction dated Thursday, January 10th. The stock was sold at an average price of $94.82, for a total value of $426,690.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.20% of the company’s stock.
Shares of KALU stock opened at $103.99 on Friday. The stock has a market capitalization of $1.67 billion, a P/E ratio of 16.07 and a beta of 1.03. Kaiser Aluminum Corp. has a 52-week low of $83.29 and a 52-week high of $119.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.15 and a current ratio of 3.20.
Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings results on Wednesday, February 20th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.22. The firm had revenue of $389.00 million for the quarter, compared to analysts’ expectations of $389.90 million. Kaiser Aluminum had a return on equity of 14.49% and a net margin of 5.78%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 EPS. As a group, equities research analysts forecast that Kaiser Aluminum Corp. will post 7.11 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 15th. Investors of record on Friday, January 25th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.31%. The ex-dividend date was Thursday, January 24th. This is a boost from Kaiser Aluminum’s previous quarterly dividend of $0.55. Kaiser Aluminum’s payout ratio is 37.09%.
Kaiser Aluminum Profile
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.
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