Gabelli Funds LLC Invests $5.01 Million in Kaiser Aluminum Corporation $KALU

Gabelli Funds LLC purchased a new stake in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 62,739 shares of the industrial products company’s stock, valued at approximately $5,013,000. Gabelli Funds LLC owned approximately 0.39% of Kaiser Aluminum as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in Kaiser Aluminum by 475.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 414 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 342 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Kaiser Aluminum during the second quarter valued at $44,000. CWM LLC increased its stake in shares of Kaiser Aluminum by 136.3% during the second quarter. CWM LLC now owns 1,616 shares of the industrial products company’s stock valued at $129,000 after buying an additional 932 shares during the period. McIlrath & Eck LLC raised its holdings in shares of Kaiser Aluminum by 50.6% in the first quarter. McIlrath & Eck LLC now owns 2,598 shares of the industrial products company’s stock valued at $157,000 after acquiring an additional 873 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in Kaiser Aluminum by 385.7% in the first quarter. AlphaQuest LLC now owns 3,162 shares of the industrial products company’s stock worth $192,000 after acquiring an additional 2,511 shares during the period. Institutional investors own 99.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Zacks Research raised shares of Kaiser Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Weiss Ratings raised shares of Kaiser Aluminum from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. JPMorgan Chase & Co. boosted their price objective on shares of Kaiser Aluminum from $82.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Wells Fargo & Company increased their target price on Kaiser Aluminum from $90.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Finally, Wall Street Zen upgraded Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.67.

Kaiser Aluminum Stock Performance

Shares of KALU opened at $103.90 on Wednesday. The company has a current ratio of 2.48, a quick ratio of 1.08 and a debt-to-equity ratio of 1.29. The firm has a market cap of $1.68 billion, a PE ratio of 18.79 and a beta of 1.51. Kaiser Aluminum Corporation has a 12 month low of $46.81 and a 12 month high of $106.47. The stock has a fifty day moving average price of $89.70 and a 200-day moving average price of $82.55.

Kaiser Aluminum (NASDAQ:KALU) last announced its earnings results on Wednesday, April 2nd. The industrial products company reported $1.21 earnings per share for the quarter. Kaiser Aluminum had a return on equity of 10.67% and a net margin of 2.85%.The firm had revenue of $765.40 million for the quarter. Equities research analysts predict that Kaiser Aluminum Corporation will post 5.14 earnings per share for the current fiscal year.

Kaiser Aluminum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 24th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, October 24th. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 55.70%.

Insider Buying and Selling

In other Kaiser Aluminum news, EVP Blain Tiffany sold 8,656 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $93.92, for a total transaction of $812,971.52. Following the sale, the executive vice president owned 26,275 shares of the company’s stock, valued at approximately $2,467,748. The trade was a 24.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by company insiders.

About Kaiser Aluminum

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.