Man Group plc Trims Stock Position in Kaiser Aluminum Co. (NASDAQ:KALU)

Man Group plc cut its stake in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 59.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,397 shares of the industrial products company’s stock after selling 7,983 shares during the quarter. Man Group plc’s holdings in Kaiser Aluminum were worth $379,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. AlphaQuest LLC increased its position in shares of Kaiser Aluminum by 497.2% during the fourth quarter. AlphaQuest LLC now owns 651 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 542 shares during the period. Jones Financial Companies Lllp purchased a new position in Kaiser Aluminum during the fourth quarter valued at approximately $52,000. KBC Group NV increased its holdings in Kaiser Aluminum by 93.0% during the fourth quarter. KBC Group NV now owns 851 shares of the industrial products company’s stock valued at $60,000 after buying an additional 410 shares during the period. Aquatic Capital Management LLC increased its holdings in Kaiser Aluminum by 87.1% during the fourth quarter. Aquatic Capital Management LLC now owns 1,684 shares of the industrial products company’s stock valued at $118,000 after buying an additional 784 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Kaiser Aluminum by 325.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,768 shares of the industrial products company’s stock valued at $124,000 after buying an additional 1,352 shares during the period. 99.29% of the stock is owned by hedge funds and other institutional investors.

Kaiser Aluminum Stock Performance

Shares of KALU opened at $69.85 on Tuesday. The company 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 company has a debt-to-equity ratio of 1.56, a current ratio of 2.44 and a quick ratio of 1.36. The company’s fifty day moving average price is $62.60 and its 200 day moving average price is $69.75.

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

Kaiser Aluminum Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Kaiser Aluminum from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. upped their target price on shares of Kaiser Aluminum from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Benchmark reduced their price objective on shares of Kaiser Aluminum from $100.00 to $74.00 and set a “buy” rating for the company in a research note on Monday, April 21st. Finally, Wolfe Research raised shares of Kaiser Aluminum from an “underperform” rating to a “peer perform” rating in a research report on Friday, April 11th.

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.