Rhumbline Advisers Buys 314 Shares of Kaiser Aluminum Co. (NASDAQ:KALU)

Rhumbline Advisers increased its stake in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,374 shares of the industrial products company’s stock after purchasing an additional 314 shares during the period. Rhumbline Advisers owned approximately 0.32% of Kaiser Aluminum worth $4,516,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Kaiser Aluminum by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,894,114 shares of the industrial products company’s stock valued at $169,258,000 after buying an additional 6,363 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Kaiser Aluminum by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 272,900 shares of the industrial products company’s stock valued at $19,428,000 after acquiring an additional 13,593 shares during the last quarter. Tributary Capital Management LLC lifted its holdings in Kaiser Aluminum by 0.3% in the second quarter. Tributary Capital Management LLC now owns 271,976 shares of the industrial products company’s stock valued at $23,907,000 after acquiring an additional 856 shares during the period. Russell Investments Group Ltd. lifted its holdings in Kaiser Aluminum by 10.3% in the first quarter. Russell Investments Group Ltd. now owns 226,171 shares of the industrial products company’s stock valued at $20,211,000 after acquiring an additional 21,192 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Kaiser Aluminum by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 206,505 shares of the industrial products company’s stock worth $18,152,000 after purchasing an additional 3,039 shares during the last quarter. Institutional investors own 99.29% of the company’s stock.

Analysts Set New Price Targets

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

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 shares were bought at an average price of $77.23 per share, for a total transaction of $199,871.24. Following the purchase, the chief executive officer now owns 103,550 shares in the company, valued at $7,997,166.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

Kaiser Aluminum Price Performance

NASDAQ KALU opened at $68.89 on Monday. The business’s fifty day moving average is $77.23 and its 200 day moving average is $85.15. Kaiser Aluminum Co. has a fifty-two week low of $53.67 and a fifty-two week high of $102.42. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.42 and a current ratio of 2.55. The company has a market capitalization of $1.11 billion, a PE ratio of 20.03 and a beta of 1.33.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.29). The company had revenue of $773.40 million for 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%. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 earnings per share. Sell-side analysts predict that Kaiser Aluminum Co. will post 3.04 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 25th were paid a $0.77 dividend. The ex-dividend date was Thursday, July 25th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.47%. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 89.53%.

Kaiser Aluminum Company 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.