Kaiser Aluminum Co. (NASDAQ:KALU) Stake Reduced by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its holdings in Kaiser Aluminum Co. (NASDAQ:KALU) by 12.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,587 shares of the industrial products company’s stock after selling 5,964 shares during the quarter. Nuveen Asset Management LLC owned about 0.27% of Kaiser Aluminum worth $3,063,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KALU. Numerai GP LLC purchased a new position in Kaiser Aluminum during the 4th quarter valued at about $906,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Kaiser Aluminum by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,094 shares of the industrial products company’s stock valued at $639,000 after acquiring an additional 317 shares in the last quarter. Graham Capital Management L.P. grew its stake in Kaiser Aluminum by 33.2% during the 4th quarter. Graham Capital Management L.P. now owns 7,135 shares of the industrial products company’s stock valued at $501,000 after acquiring an additional 1,780 shares in the last quarter. Ethic Inc. purchased a new position in Kaiser Aluminum during the 4th quarter valued at about $272,000. Finally, Deutsche Bank AG grew its stake in Kaiser Aluminum by 54.0% during the 4th quarter. Deutsche Bank AG now owns 14,191 shares of the industrial products company’s stock valued at $997,000 after acquiring an additional 4,977 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors.

Kaiser Aluminum Price Performance

Shares of KALU opened at $75.58 on Tuesday. The company has a current ratio of 2.44, a quick ratio of 1.36 and a debt-to-equity ratio of 1.56. Kaiser Aluminum Co. has a 1 year low of $46.81 and a 1 year high of $100.07. The stock has a market cap of $1.22 billion, a P/E ratio of 26.33 and a beta of 1.40. The stock’s 50-day moving average price is $63.25 and its two-hundred day moving average price is $69.45.

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

Kaiser Aluminum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Friday, April 25th. Kaiser Aluminum’s dividend payout ratio (DPR) is currently 115.36%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Benchmark lowered their target price on Kaiser Aluminum from $100.00 to $74.00 and set a “buy” rating on the stock in a research note on Monday, April 21st. Wolfe Research raised Kaiser Aluminum from an “underperform” rating to a “peer perform” rating in a research note on Friday, April 11th. Wall Street Zen cut Kaiser Aluminum from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Finally, JPMorgan Chase & Co. boosted their price target on Kaiser Aluminum from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, April 28th.

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.