Bank of New York Mellon Corp Cuts Stake in Kaiser Aluminum Co. (NASDAQ:KALU)

Bank of New York Mellon Corp reduced its holdings in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 179,569 shares of the industrial products company’s stock after selling 13,447 shares during the period. Bank of New York Mellon Corp owned about 1.12% of Kaiser Aluminum worth $12,618,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. New York State Teachers Retirement System grew its holdings in shares of Kaiser Aluminum by 6.2% during the 4th quarter. New York State Teachers Retirement System now owns 6,879 shares of the industrial products company’s stock valued at $483,000 after purchasing an additional 400 shares during the last quarter. KBC Group NV boosted its position in Kaiser Aluminum by 93.0% during the fourth quarter. KBC Group NV now owns 851 shares of the industrial products company’s stock valued at $60,000 after buying an additional 410 shares during the period. Point72 DIFC Ltd bought a new position in shares of Kaiser Aluminum during the third quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Kaiser Aluminum by 20.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,597 shares of the industrial products company’s stock worth $261,000 after buying an additional 605 shares during the period. Finally, Brightline Capital Management LLC lifted its stake in shares of Kaiser Aluminum by 1.0% in the 3rd quarter. Brightline Capital Management LLC now owns 100,000 shares of the industrial products company’s stock valued at $7,252,000 after acquiring an additional 1,000 shares during the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Kaiser Aluminum Trading Down 1.2 %

NASDAQ:KALU opened at $67.00 on Thursday. The firm has a market capitalization of $1.08 billion, a P/E ratio of 23.34 and a beta of 1.37. Kaiser Aluminum Co. has a 52 week low of $63.44 and a 52 week high of $102.42. The company has a quick ratio of 1.36, a current ratio of 2.44 and a debt-to-equity ratio of 1.56. The company has a fifty day moving average of $70.84 and a 200 day moving average of $73.31.

Kaiser Aluminum (NASDAQ:KALU) last posted its earnings results on Wednesday, February 19th. The industrial products company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). The firm had revenue of $765.40 million for the quarter, compared to analysts’ expectations of $752.00 million. Kaiser Aluminum had a return on equity of 6.25% and a net margin of 1.55%. During the same quarter in the prior year, the company posted $0.60 earnings per share. On average, research analysts predict that Kaiser Aluminum Co. will post 5.14 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were given a $0.77 dividend. The ex-dividend date was Friday, January 24th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.60%. Kaiser Aluminum’s dividend payout ratio is currently 107.32%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Kaiser Aluminum from a “sell” rating to a “hold” rating in a research report on Friday, March 7th.

About Kaiser Aluminum

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.