OppenheimerFunds Inc. lifted its stake in Kaiser Aluminum Corp. (NASDAQ:KALU) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,489 shares of the industrial products company’s stock after buying an additional 6,946 shares during the period. OppenheimerFunds Inc. owned approximately 1.94% of Kaiser Aluminum worth $32,727,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantamental Technologies LLC acquired a new position in shares of Kaiser Aluminum in the fourth quarter worth about $26,000. Advisor Group Inc. lifted its stake in shares of Kaiser Aluminum by 143.2% in the first quarter. Advisor Group Inc. now owns 1,391 shares of the industrial products company’s stock worth $146,000 after acquiring an additional 819 shares in the last quarter. LS Investment Advisors LLC lifted its stake in shares of Kaiser Aluminum by 285.9% in the fourth quarter. LS Investment Advisors LLC now owns 1,914 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 1,418 shares in the last quarter. Amalgamated Bank acquired a new position in shares of Kaiser Aluminum in the fourth quarter worth about $218,000. Finally, Aptus Capital Advisors LLC acquired a new position in shares of Kaiser Aluminum in the fourth quarter worth about $225,000. 97.06% of the stock is owned by institutional investors.
In other Kaiser Aluminum news, VP Mark Krouse sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $93.44, for a total transaction of $102,784.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Keith Harvey sold 500 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $90.00, for a total value of $45,000.00. The disclosure for this sale can be found here. Insiders have sold 2,600 shares of company stock worth $242,724 in the last 90 days. 3.20% of the stock is currently owned by insiders.
Several research firms recently commented on KALU. Zacks Investment Research upgraded Kaiser Aluminum from a “sell” rating to a “hold” rating in a research note on Wednesday, February 27th. BidaskClub cut Kaiser Aluminum from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $110.33.
Shares of NASDAQ:KALU traded down $0.05 during trading on Wednesday, hitting $92.13. The company’s stock had a trading volume of 2,631 shares, compared to its average volume of 125,240. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.14 and a current ratio of 3.29. Kaiser Aluminum Corp. has a fifty-two week low of $83.29 and a fifty-two week high of $119.66. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 14.23 and a beta of 1.01.
Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.02. Kaiser Aluminum had a return on equity of 14.91% and a net margin of 5.90%. The firm had revenue of $395.00 million for the quarter, compared to analysts’ expectations of $404.04 million. During the same quarter in the prior year, the firm posted $1.60 earnings per share. Kaiser Aluminum’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts predict that Kaiser Aluminum Corp. will post 7.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, April 25th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Wednesday, April 24th. Kaiser Aluminum’s payout ratio is currently 37.09%.
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About Kaiser Aluminum
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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