Renaissance Technologies LLC Acquires Shares of 5,100 Kaiser Aluminum Co. (NASDAQ:KALU)

Renaissance Technologies LLC purchased a new position in shares of Kaiser Aluminum Co. (NASDAQ:KALU) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,100 shares of the industrial products company’s stock, valued at approximately $448,000.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Kaiser Aluminum by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,887,751 shares of the industrial products company’s stock worth $134,389,000 after acquiring an additional 10,676 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in Kaiser Aluminum in the 1st quarter valued at about $593,000. SageView Advisory Group LLC acquired a new position in Kaiser Aluminum in the first quarter valued at about $1,264,000. First Hawaiian Bank purchased a new position in Kaiser Aluminum during the second quarter worth about $726,000. Finally, Russell Investments Group Ltd. increased its position in shares of Kaiser Aluminum by 10.3% during 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 last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Kaiser Aluminum Price Performance

Kaiser Aluminum stock opened at $72.21 on Friday. The company has a quick ratio of 1.42, a current ratio of 2.55 and a debt-to-equity ratio of 1.57. Kaiser Aluminum Co. has a 52-week low of $53.67 and a 52-week high of $102.42. The firm has a market cap of $1.16 billion, a PE ratio of 20.99 and a beta of 1.33. The company’s 50 day moving average is $70.62 and its two-hundred day moving average is $84.35.

Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.29). Kaiser Aluminum had a net margin of 1.37% and a return on equity of 6.84%. The company had revenue of $773.40 million during the quarter, compared to analysts’ expectations of $773.89 million. During the same quarter in the previous year, the business posted $1.26 EPS. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. On average, research analysts expect that Kaiser Aluminum Co. will post 3.04 EPS for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The firm also recently announced 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. This represents a $3.08 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Thursday, July 25th. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 89.53%.

Insiders Place Their Bets

In related news, CEO Keith Harvey purchased 2,588 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average cost of $77.23 per share, for a total transaction of $199,871.24. Following the purchase, the chief executive officer now directly owns 103,550 shares of the company’s stock, valued at $7,997,166.50. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.