Russell Investments Group Ltd. Has $14.59 Million Stake in Kaiser Aluminum Co. (NASDAQ:KALU)

Russell Investments Group Ltd. trimmed its stake in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 204,979 shares of the industrial products company’s stock after selling 19,907 shares during the period. Russell Investments Group Ltd.’s holdings in Kaiser Aluminum were worth $14,592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in Kaiser Aluminum in the fourth quarter valued at $1,136,000. Victory Capital Management Inc. grew its position in Kaiser Aluminum by 12.0% in the third quarter. Victory Capital Management Inc. now owns 1,249,158 shares of the industrial products company’s stock valued at $94,012,000 after purchasing an additional 134,073 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Kaiser Aluminum by 99.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 11,530 shares of the industrial products company’s stock valued at $868,000 after purchasing an additional 5,735 shares in the last quarter. New York State Teachers Retirement System grew its position in Kaiser Aluminum by 11.3% in the fourth quarter. New York State Teachers Retirement System now owns 4,927 shares of the industrial products company’s stock valued at $351,000 after purchasing an additional 500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of 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 valued at $19,515,000 after acquiring an additional 4,685 shares during the period. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Kaiser Aluminum from $68.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Benchmark reaffirmed a “buy” rating and set a $84.00 target price on shares of Kaiser Aluminum in a report on Friday, April 19th. Finally, UBS Group initiated coverage on shares of Kaiser Aluminum in a report on Tuesday, January 16th. They set a “neutral” rating and a $67.00 target price for the company. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.00.

Kaiser Aluminum Price Performance

Shares of Kaiser Aluminum stock opened at $96.11 on Friday. Kaiser Aluminum Co. has a twelve month low of $53.67 and a twelve month high of $96.47. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 1.56. The company has a 50-day simple moving average of $84.14 and a two-hundred day simple moving average of $70.71. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 27.94 and a beta of 1.37.

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

Kaiser Aluminum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 25th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Wednesday, April 24th. Kaiser Aluminum’s payout ratio is presently 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.