Macquarie Group Ltd. Boosts Position in Kaiser Aluminum Corp. (KALU)
Macquarie Group Ltd. raised its position in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 611,928 shares of the company’s stock after buying an additional 11,056 shares during the period. Macquarie Group Ltd. owned 3.42% of Kaiser Aluminum Corp. worth $55,324,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of KALU. American Century Companies Inc. acquired a new position in Kaiser Aluminum Corp. during the second quarter worth approximately $5,453,000. Moody Aldrich Partners LLC increased its position in Kaiser Aluminum Corp. by 166.4% in the second quarter. Moody Aldrich Partners LLC now owns 22,765 shares of the company’s stock worth $2,058,000 after buying an additional 14,220 shares during the period. Bank of Montreal Can acquired a new position in Kaiser Aluminum Corp. during the second quarter worth approximately $4,624,000. Adams Diversified Equity Fund Inc. acquired a new position in Kaiser Aluminum Corp. during the second quarter worth approximately $371,000. Finally, New York State Teachers Retirement System increased its position in Kaiser Aluminum Corp. by 16.1% in the second quarter. New York State Teachers Retirement System now owns 12,241 shares of the company’s stock worth $1,107,000 after buying an additional 1,700 shares during the period. 98.38% of the stock is currently owned by institutional investors and hedge funds.
Kaiser Aluminum Corp. (NASDAQ:KALU) traded up 0.44% during mid-day trading on Friday, reaching $82.03. 204,411 shares of the company were exchanged. The firm has a market capitalization of $1.46 billion, a P/E ratio of 18.29 and a beta of 0.56. The stock has a 50-day moving average of $78.38 and a 200 day moving average of $84.49. Kaiser Aluminum Corp. has a 1-year low of $69.41 and a 1-year high of $96.06.
Kaiser Aluminum Corp. (NASDAQ:KALU) last posted its earnings results on Wednesday, October 19th. The company reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by $0.25. Kaiser Aluminum Corp. had a net margin of 6.12% and a return on equity of 9.46%. The company earned $321 million during the quarter, compared to analyst estimates of $333.46 million. During the same period in the previous year, the company earned $1.07 EPS. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. Equities research analysts forecast that Kaiser Aluminum Corp. will post $4.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Tuesday, October 25th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, October 21st. This represents a $1.80 dividend on an annualized basis and a yield of 2.19%. Kaiser Aluminum Corp.’s payout ratio is currently 40.72%.
A number of research firms have commented on KALU. Seaport Global Securities started coverage on shares of Kaiser Aluminum Corp. in a research report on Friday, September 9th. They set a “buy” rating and a $100.00 target price on the stock. Macquarie started coverage on shares of Kaiser Aluminum Corp. in a report on Tuesday, September 6th. They issued an “outperform” rating on the stock. Zacks Investment Research cut shares of Kaiser Aluminum Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Finally, TheStreet cut shares of Kaiser Aluminum Corp. from a “buy” rating to a “hold” rating in a report on Friday, October 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $93.33.
Kaiser Aluminum Corp. Company Profile
Kaiser Aluminum Corporation is engaged in the production of semi-fabricated specialty aluminum products. The Company manufactures aluminum plate and sheet, and extruded and drawn products, primarily used in aerospace/high strength, automotive, general engineering and other industrial end market applications.
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