Pitcairn Co. Buys 1,239 Shares of Kaiser Aluminum Co. (NASDAQ:KALU)

Pitcairn Co. grew its position in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 23.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,535 shares of the industrial products company’s stock after buying an additional 1,239 shares during the quarter. Pitcairn Co.’s holdings in Kaiser Aluminum were worth $584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of KALU. Harvest Investment Advisors LLC boosted its position in Kaiser Aluminum by 1.6% in the fourth quarter. Harvest Investment Advisors LLC now owns 17,489 shares of the industrial products company’s stock worth $1,245,000 after purchasing an additional 280 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of Kaiser Aluminum by 8.1% during the 1st quarter. New York State Teachers Retirement System now owns 5,327 shares of the industrial products company’s stock valued at $476,000 after buying an additional 400 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Kaiser Aluminum by 400.0% during the 1st quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 432 shares during the period. Janney Montgomery Scott LLC increased its holdings in Kaiser Aluminum by 16.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,031 shares of the industrial products company’s stock worth $360,000 after acquiring an additional 573 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Kaiser Aluminum during the 4th quarter worth approximately $51,000. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Kaiser Aluminum Trading Down 15.0 %

Shares of KALU opened at $78.06 on Friday. Kaiser Aluminum Co. has a 1 year low of $53.67 and a 1 year high of $102.42. The company has a 50 day simple moving average of $92.46 and a two-hundred day simple moving average of $83.48. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.66 and a quick ratio of 1.43. The firm has a market cap of $1.25 billion, a P/E ratio of 22.69 and a beta of 1.35.

Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings results 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). Kaiser Aluminum had a net margin of 1.37% and a return on equity of 6.86%. The company had revenue of $773.40 million during the quarter, compared to the consensus estimate of $773.89 million. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The business’s revenue was down 5.0% on a year-over-year basis. On average, equities analysts expect that Kaiser Aluminum Co. will post 4.12 earnings per share for the current fiscal year.

Kaiser Aluminum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Thursday, July 25th. Kaiser Aluminum’s dividend payout ratio is presently 89.53%.

Analyst Ratings Changes

A number of research firms have weighed in on KALU. Benchmark upped 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. JPMorgan Chase & Co. upped their target price on shares of Kaiser Aluminum from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th.

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.