National Bank of Canada FI Acquires Shares of 369 Kaiser Aluminum Co. (NASDAQ:KALU)

National Bank of Canada FI bought a new position in shares of Kaiser Aluminum Co. (NASDAQ:KALU) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 369 shares of the industrial products company’s stock, valued at approximately $32,000.

A number of other large investors have also made changes to their positions in KALU. GAMMA Investing LLC boosted its stake in Kaiser Aluminum by 400.0% during the first quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock worth $48,000 after buying an additional 432 shares during the last quarter. EntryPoint Capital LLC boosted its position in shares of Kaiser Aluminum by 79.7% during the 1st quarter. EntryPoint Capital LLC now owns 861 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 382 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Kaiser Aluminum by 941.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 906 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 819 shares during the period. SG Americas Securities LLC acquired a new stake in Kaiser Aluminum during the first quarter worth about $132,000. Finally, 180 Wealth Advisors LLC purchased a new position in Kaiser Aluminum during the first quarter worth about $210,000. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Kaiser Aluminum Stock Down 0.0 %

Shares of NASDAQ:KALU opened at $68.89 on Monday. The business has a 50-day moving average price of $77.23 and a 200 day moving average price of $85.15. Kaiser Aluminum Co. has a 12-month low of $53.67 and a 12-month high of $102.42. The company has a current ratio of 2.55, a quick ratio of 1.42 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 20.03 and a beta of 1.33.

Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.29). The company had revenue of $773.40 million during the quarter, compared to analysts’ expectations of $773.89 million. Kaiser Aluminum had a net margin of 1.37% and a return on equity of 6.84%. Kaiser Aluminum’s revenue was down 5.0% on a year-over-year basis. During the same period last year, the firm posted $1.26 earnings per share. Sell-side analysts expect that Kaiser Aluminum Co. will post 3.04 EPS for the current year.

Kaiser Aluminum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 25th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $3.08 annualized dividend and a dividend yield of 4.47%. Kaiser Aluminum’s dividend payout ratio is currently 89.53%.

Insider Activity

In other news, CEO Keith Harvey bought 2,588 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was bought at an average cost of $77.23 per share, for a total transaction of $199,871.24. Following the acquisition, the chief executive officer now directly owns 103,550 shares of the company’s stock, valued at approximately $7,997,166.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Benchmark raised their price target on shares of Kaiser Aluminum from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, July 12th.

Kaiser Aluminum 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.