nVerses Capital LLC Buys Shares of 900 Kaiser Aluminum Co. (NASDAQ:KALU)

nVerses Capital LLC purchased a new position in shares of Kaiser Aluminum Co. (NASDAQ:KALU) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 900 shares of the industrial products company’s stock, valued at approximately $65,000.

A number of other hedge funds also recently modified their holdings of KALU. Rhumbline Advisers grew its holdings in Kaiser Aluminum by 0.6% during the second quarter. Rhumbline Advisers now owns 51,374 shares of the industrial products company’s stock valued at $4,516,000 after purchasing an additional 314 shares during the period. National Bank of Canada FI bought a new position in shares of Kaiser Aluminum during the 2nd quarter worth $32,000. EntryPoint Capital LLC increased its holdings in Kaiser Aluminum by 79.7% in the 1st quarter. EntryPoint Capital LLC now owns 861 shares of the industrial products company’s stock worth $77,000 after acquiring an additional 382 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Kaiser Aluminum by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,893 shares of the industrial products company’s stock valued at $694,000 after acquiring an additional 394 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Kaiser Aluminum by 3.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,430 shares of the industrial products company’s stock valued at $1,093,000 after purchasing an additional 397 shares during the period. Institutional investors own 99.29% of the company’s stock.

Kaiser Aluminum Stock Performance

NASDAQ:KALU opened at $70.71 on Tuesday. Kaiser Aluminum Co. has a 1-year low of $53.67 and a 1-year high of $102.42. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.55 and a quick ratio of 1.42. The business has a 50 day moving average of $71.13 and a 200 day moving average of $83.61. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 20.56 and a beta of 1.33.

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 analysts’ consensus estimates of $0.94 by ($0.29). The business 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 for the quarter was down 5.0% on a year-over-year basis. During the same period last year, the company posted $1.26 EPS. On average, sell-side analysts predict that Kaiser Aluminum Co. will post 3.04 earnings per share for the current fiscal year.

Kaiser Aluminum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.36%. Kaiser Aluminum’s dividend payout ratio (DPR) is currently 89.53%.

Insider Transactions at Kaiser Aluminum

In related news, CEO Keith Harvey bought 2,588 shares of the company’s 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 $7,997,166.50. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Benchmark upped their target price 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.

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.