Bank of America Corp DE Sells 4,442 Shares of Kaiser Aluminum Co. (NASDAQ:KALU)

Bank of America Corp DE reduced its position in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,173 shares of the industrial products company’s stock after selling 4,442 shares during the period. Bank of America Corp DE owned about 0.83% of Kaiser Aluminum worth $9,428,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC bought a new stake in shares of Kaiser Aluminum during the fourth quarter worth about $3,878,000. American Century Companies Inc. grew its holdings in shares of Kaiser Aluminum by 12.6% during the fourth quarter. American Century Companies Inc. now owns 447,723 shares of the industrial products company’s stock worth $31,461,000 after purchasing an additional 49,948 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Kaiser Aluminum by 103.6% during the fourth quarter. Wellington Management Group LLP now owns 431,980 shares of the industrial products company’s stock worth $30,355,000 after purchasing an additional 219,827 shares during the last quarter. Barclays PLC grew its holdings in shares of Kaiser Aluminum by 101.3% during the third quarter. Barclays PLC now owns 27,454 shares of the industrial products company’s stock worth $1,991,000 after purchasing an additional 13,813 shares during the last quarter. Finally, Amundi boosted its holdings in Kaiser Aluminum by 196.0% in the fourth quarter. Amundi now owns 8,934 shares of the industrial products company’s stock valued at $629,000 after acquiring an additional 5,916 shares during the last quarter. 99.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Kaiser Aluminum from $62.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Wolfe Research upgraded Kaiser Aluminum from an “underperform” rating to a “peer perform” rating in a report on Friday, April 11th. Benchmark reduced their target price on Kaiser Aluminum from $100.00 to $74.00 and set a “buy” rating on the stock in a report on Monday, April 21st. Finally, Wall Street Zen cut Kaiser Aluminum from a “buy” rating to a “hold” rating in a report on Saturday.

Kaiser Aluminum Stock Performance

Shares of KALU stock opened at $69.85 on Friday. The stock has a market capitalization of $1.13 billion, a PE ratio of 24.34 and a beta of 1.40. Kaiser Aluminum Co. has a one year low of $46.81 and a one year high of $100.49. The business’s 50 day simple moving average is $62.61 and its 200 day simple moving average is $69.95. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.44 and a quick ratio of 1.36.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.91. The firm had revenue of $777.40 million for the quarter, compared to analysts’ expectations of $788.00 million. Kaiser Aluminum had a return on equity of 6.25% and a net margin of 1.55%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 EPS. As a group, research analysts forecast that Kaiser Aluminum Co. will post 5.14 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date was Friday, April 25th. Kaiser Aluminum’s payout ratio is 115.36%.

Kaiser Aluminum Company 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.