Renaissance Technologies LLC boosted its holdings in Kaiser Aluminum Corporation (NASDAQ:KALU – Free Report) by 363.2% in the first quarter, HoldingsChannel reports. The firm owned 33,814 shares of the industrial products company’s stock after purchasing an additional 26,514 shares during the period. Renaissance Technologies LLC’s holdings in Kaiser Aluminum were worth $4,075,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in Kaiser Aluminum by 389.3% during the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 218 shares during the last quarter. KBC Group NV purchased a new position in shares of Kaiser Aluminum during the 1st quarter valued at approximately $44,000. Global Retirement Partners LLC grew its position in shares of Kaiser Aluminum by 408.3% during the fourth quarter. Global Retirement Partners LLC now owns 366 shares of the industrial products company’s stock worth $42,000 after buying an additional 294 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Kaiser Aluminum by 475.0% during the second quarter. EverSource Wealth Advisors LLC now owns 414 shares of the industrial products company’s stock worth $33,000 after buying an additional 342 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Kaiser Aluminum by 107.2% in the first quarter. Parallel Advisors LLC now owns 487 shares of the industrial products company’s stock worth $59,000 after buying an additional 252 shares during the last quarter. Institutional investors and hedge funds own 99.29% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently issued reports on KALU shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Kaiser Aluminum in a report on Tuesday, July 21st. Wells Fargo & Company raised their price objective on shares of Kaiser Aluminum from $158.00 to $169.00 and gave the stock an “underweight” rating in a report on Friday, July 24th. KeyCorp boosted their target price on shares of Kaiser Aluminum from $170.00 to $183.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. UBS Group upped their target price on shares of Kaiser Aluminum from $176.00 to $179.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Kaiser Aluminum has a consensus rating of “Hold” and a consensus price target of $168.25.
Kaiser Aluminum Trading Up 8.1%
Shares of KALU stock opened at $184.75 on Friday. The stock has a 50-day simple moving average of $174.25 and a 200 day simple moving average of $153.72. The stock has a market capitalization of $3.02 billion, a P/E ratio of 13.70 and a beta of 1.61. The company has a quick ratio of 1.17, a current ratio of 2.50 and a debt-to-equity ratio of 1.10. Kaiser Aluminum Corporation has a fifty-two week low of $71.44 and a fifty-two week high of $195.96.
Kaiser Aluminum (NASDAQ:KALU – Get Free Report) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $5.53 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $2.87. Kaiser Aluminum had a net margin of 5.49% and a return on equity of 24.71%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm earned $1.21 EPS. The business’s revenue for the quarter was up 52.7% on a year-over-year basis. On average, sell-side analysts expect that Kaiser Aluminum Corporation will post 10.63 earnings per share for the current fiscal year.
Kaiser Aluminum Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 24th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $3.08 annualized dividend and a dividend yield of 1.7%. Kaiser Aluminum’s dividend payout ratio is currently 22.83%.
Kaiser Aluminum Company Profile
Kaiser Aluminum Corporation is a U.S.-based producer of semi‐fabricated aluminum products, serving a diverse range of industrial and specialty markets. The company’s offerings include extruded, rolled, and forged aluminum products designed to meet stringent performance requirements in sectors such as aerospace, automotive, defense, electronics, and general engineering. By focusing on high‐value applications, Kaiser Aluminum aims to deliver lightweight, durable solutions that contribute to efficiency and innovation across its customer base.
Operationally, Kaiser Aluminum maintains a network of smelters, extrusion plants, and rolling mills located primarily in North America.
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