Fisher Asset Management LLC Sells 16,289 Shares of Kaiser Aluminum Co. (NASDAQ:KALU)

Fisher Asset Management LLC lowered its position in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,421 shares of the industrial products company’s stock after selling 16,289 shares during the quarter. Fisher Asset Management LLC owned approximately 0.92% of Kaiser Aluminum worth $10,495,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Kaiser Aluminum by 0.5% during the third quarter. Vanguard Group Inc. now owns 1,877,075 shares of the industrial products company’s stock worth $141,269,000 after purchasing an additional 8,771 shares during the period. Victory Capital Management Inc. lifted its position in Kaiser Aluminum by 5.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,318,145 shares of the industrial products company’s stock valued at $93,839,000 after acquiring an additional 68,987 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Kaiser Aluminum by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 259,307 shares of the industrial products company’s stock worth $19,515,000 after purchasing an additional 4,685 shares during the period. First Eagle Investment Management LLC increased its holdings in Kaiser Aluminum by 105.5% during the 3rd quarter. First Eagle Investment Management LLC now owns 113,312 shares of the industrial products company’s stock worth $8,528,000 after purchasing an additional 58,171 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in shares of Kaiser Aluminum by 2.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 104,158 shares of the industrial products company’s stock valued at $7,839,000 after purchasing an additional 2,200 shares during the period. Institutional investors and hedge funds own 99.29% of the company’s stock.

Analysts Set New Price Targets

KALU has been the subject of a number of recent analyst reports. Benchmark reiterated a “buy” rating and issued a $84.00 price target on shares of Kaiser Aluminum in a research note on Friday, April 19th. JPMorgan Chase & Co. lifted their price target on Kaiser Aluminum from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Finally, UBS Group began coverage on Kaiser Aluminum in a research note on Tuesday, January 16th. They issued a “neutral” rating and a $67.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $77.00.

Kaiser Aluminum Stock Up 1.7 %

Shares of KALU opened at $97.79 on Tuesday. The firm’s 50-day simple moving average is $85.15 and its 200 day simple moving average is $71.16. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.43 and a current ratio of 2.66. The firm has a market cap of $1.57 billion, a P/E ratio of 28.43 and a beta of 1.37. Kaiser Aluminum Co. has a 52 week low of $53.67 and a 52 week high of $99.46.

Kaiser Aluminum (NASDAQ:KALU) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.58 by $0.44. The company had revenue of $738.00 million for the quarter, compared to the consensus estimate of $733.34 million. Kaiser Aluminum had a return on equity of 8.40% and a net margin of 1.85%. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. On average, analysts forecast that Kaiser Aluminum Co. will post 4.12 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 25th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Wednesday, April 24th. Kaiser Aluminum’s dividend payout ratio is 89.53%.

Kaiser Aluminum 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.