News

Jul 08, 2023

Russell Investments Group Ltd. Sells 45,526 Shares of Kaiser Aluminum Co. (NASDAQ:KALU)

Russell Investments Group Ltd. reduced its position in shares of Kaiser Aluminum

Russell Investments Group Ltd. reduced its position in shares of Kaiser Aluminum Co. (NASDAQ:KALU - Get Rating) by 17.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 215,204 shares of the industrial products company's stock after selling 45,526 shares during the quarter. Russell Investments Group Ltd. owned 1.35% of Kaiser Aluminum worth $16,347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its stake in Kaiser Aluminum by 0.9% during the 1st quarter. BlackRock Inc. now owns 2,617,574 shares of the industrial products company's stock valued at $246,471,000 after acquiring an additional 22,167 shares during the period. Vanguard Group Inc. raised its stake in Kaiser Aluminum by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,902,149 shares of the industrial products company's stock valued at $116,697,000 after buying an additional 40,795 shares during the last quarter. Victory Capital Management Inc. raised its stake in Kaiser Aluminum by 37.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,331,501 shares of the industrial products company's stock valued at $81,688,000 after buying an additional 365,783 shares during the last quarter. State Street Corp raised its stake in Kaiser Aluminum by 30.6% during the 1st quarter. State Street Corp now owns 1,132,280 shares of the industrial products company's stock valued at $106,615,000 after buying an additional 265,426 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in Kaiser Aluminum by 16.7% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 660,502 shares of the industrial products company's stock valued at $40,522,000 after buying an additional 94,518 shares during the last quarter. 99.65% of the stock is currently owned by institutional investors.

KALU has been the subject of a number of recent research reports. Wolfe Research downgraded Kaiser Aluminum from a "peer perform" rating to an "underperform" rating and set a $67.00 price target for the company. in a research note on Wednesday, April 12th. JPMorgan Chase & Co. initiated coverage on Kaiser Aluminum in a research note on Monday. They set a "neutral" rating and a $69.00 price target for the company. Benchmark dropped their price target on shares of Kaiser Aluminum from $105.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, April 21st. StockNews.com initiated coverage on shares of Kaiser Aluminum in a research note on Thursday, March 16th. They set a "sell" rating on the stock. Finally, The Goldman Sachs Group dropped their price target on shares of Kaiser Aluminum from $80.00 to $70.00 and set a "sell" rating on the stock in a research note on Monday, February 27th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Kaiser Aluminum has a consensus rating of "Hold" and a consensus price target of $72.50.

Shares of KALU stock opened at $61.56 on Thursday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.29 and a current ratio of 2.61. The stock has a fifty day simple moving average of $68.38 and a two-hundred day simple moving average of $78.73. The firm has a market capitalization of $983.73 million, a PE ratio of -44.61 and a beta of 1.28. Kaiser Aluminum Co. has a 52-week low of $56.79 and a 52-week high of $107.41.

Kaiser Aluminum (NASDAQ:KALU - Get Rating) last issued its earnings results on Thursday, April 27th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.58. Kaiser Aluminum had a negative return on equity of 3.35% and a negative net margin of 0.65%. The company had revenue of $808.00 million for the quarter, compared to the consensus estimate of $810.25 million. During the same quarter last year, the company earned $0.66 EPS. The firm's quarterly revenue was down 14.9% on a year-over-year basis.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Tuesday, April 25th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, April 24th. This represents a $3.08 annualized dividend and a yield of 5.00%. Kaiser Aluminum's payout ratio is -223.19%.

Kaiser Aluminum Corp. engages in the manufacture and sale of semi-fabricated specialty aluminum products. The firm caters to the aerospace, general engineering, automotive, and custom industrial applications industries. Its products include plate, sheet, coil, hard alloy shapes, soft alloy extrusions, seamless and structural extruded, drawn tube, hard alloy rod, bar, wire and forge stock.

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