Kaiser Aluminum Corporation (NASDAQ:KALU) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Kaiser Aluminum Corporation (NASDAQ:KALU) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,754 shares of the industrial products company’s stock after buying an additional 1,984 shares during the period. Principal Financial Group Inc. owned 0.56% of Kaiser Aluminum worth $5,441,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. AlphaQuest LLC grew its position in Kaiser Aluminum by 497.2% in the 4th quarter. AlphaQuest LLC now owns 651 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 542 shares during the last quarter. Aquatic Capital Management LLC grew its stake in shares of Kaiser Aluminum by 87.1% in the fourth quarter. Aquatic Capital Management LLC now owns 1,684 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 784 shares in the last quarter. McIlrath & Eck LLC bought a new stake in shares of Kaiser Aluminum during the fourth quarter valued at about $121,000. Tower Research Capital LLC TRC grew its position in Kaiser Aluminum by 325.0% in the 4th 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 in the last quarter. Finally, Snowden Capital Advisors LLC bought a new stake in shares of Kaiser Aluminum during the 4th quarter worth about $205,000. 99.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KALU has been the topic of a number of research analyst reports. Wolfe Research upgraded shares of Kaiser Aluminum from an “underperform” rating to a “peer perform” rating in a research note on Friday, April 11th. JPMorgan Chase & Co. raised their target price on Kaiser Aluminum from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Benchmark dropped their price target on shares of Kaiser Aluminum from $100.00 to $74.00 and set a “buy” rating on the stock in a research report on Monday, April 21st. Finally, Wall Street Zen raised shares of Kaiser Aluminum from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th.

Kaiser Aluminum Price Performance

KALU stock opened at $88.34 on Thursday. Kaiser Aluminum Corporation has a one year low of $46.81 and a one year high of $100.07. The firm has a 50-day moving average of $77.46 and a two-hundred day moving average of $70.25. The firm has a market capitalization of $1.43 billion, a PE ratio of 33.09 and a beta of 1.44. The company has a current ratio of 2.67, a quick ratio of 1.27 and a debt-to-equity ratio of 1.38.

Kaiser Aluminum (NASDAQ:KALU) last issued 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. Kaiser Aluminum had a return on equity of 7.02% and a net margin of 1.43%. The business had revenue of $777.40 million during the quarter, compared to analysts’ expectations of $788.00 million. During the same quarter last year, the firm posted $1.02 earnings per share. Kaiser Aluminum’s revenue was up 5.3% compared to the same quarter last year. On average, analysts forecast that Kaiser Aluminum Corporation will post 5.14 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Friday, July 25th. Kaiser Aluminum’s dividend payout ratio is currently 115.36%.

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.