Acadian Asset Management LLC Invests $431,000 in Kaiser Aluminum Co. (NASDAQ:KALU)

Acadian Asset Management LLC bought a new stake in Kaiser Aluminum Co. (NASDAQ:KALU) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,931 shares of the industrial products company’s stock, valued at approximately $431,000.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in Kaiser Aluminum during the fourth quarter valued at approximately $7,415,000. Tributary Capital Management LLC raised its position in shares of Kaiser Aluminum by 23.6% during the 1st quarter. Tributary Capital Management LLC now owns 271,120 shares of the industrial products company’s stock valued at $24,227,000 after acquiring an additional 51,834 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its stake in Kaiser Aluminum by 532,185.7% during the second quarter. Riggs Asset Managment Co. Inc. now owns 37,260 shares of the industrial products company’s stock worth $3,275,000 after purchasing an additional 37,253 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Kaiser Aluminum by 3,349.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 31,254 shares of the industrial products company’s stock worth $2,747,000 after purchasing an additional 30,348 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in Kaiser Aluminum by 14.5% during the first quarter. First Eagle Investment Management LLC now owns 174,810 shares of the industrial products company’s stock valued at $15,621,000 after purchasing an additional 22,100 shares during the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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 research report on Friday, July 12th.

Kaiser Aluminum Stock Up 0.9 %

Shares of Kaiser Aluminum stock opened at $70.18 on Thursday. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 20.45 and a beta of 1.33. Kaiser Aluminum Co. has a twelve month low of $53.67 and a twelve 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 business’s 50 day simple moving average is $76.41 and its 200-day simple moving average is $85.10.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.65 EPS 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 the consensus estimate of $773.89 million. Kaiser Aluminum had a return on equity of 6.84% and a net margin of 1.37%. Kaiser Aluminum’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 earnings per share. Equities research analysts forecast that Kaiser Aluminum Co. will post 3.04 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 25th were given a $0.77 dividend. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $3.08 annualized dividend and a yield of 4.39%. Kaiser Aluminum’s dividend payout ratio is presently 89.53%.

Insider Buying and Selling at Kaiser Aluminum

In other news, CEO Keith Harvey purchased 2,588 shares of the company’s stock in a transaction 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 completion of the purchase, the chief executive officer now owns 103,550 shares of the company’s stock, valued at $7,997,166.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by company insiders.

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.