Wellington Management Group LLP Increases Stock Holdings in Kaiser Aluminum Co. (NASDAQ:KALU)

Wellington Management Group LLP raised its stake in Kaiser Aluminum Co. (NASDAQ:KALU - Free Report) by 103.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 431,980 shares of the industrial products company's stock after purchasing an additional 219,827 shares during the quarter. Wellington Management Group LLP owned 2.68% of Kaiser Aluminum worth $30,355,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. McIlrath & Eck LLC purchased a new position in shares of Kaiser Aluminum in the 4th quarter valued at approximately $121,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Kaiser Aluminum by 7.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,887 shares of the industrial products company's stock valued at $2,873,000 after buying an additional 2,903 shares in the last quarter. Voloridge Investment Management LLC boosted its stake in shares of Kaiser Aluminum by 7.5% in the fourth quarter. Voloridge Investment Management LLC now owns 18,880 shares of the industrial products company's stock valued at $1,327,000 after buying an additional 1,325 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Kaiser Aluminum by 12.8% in the fourth quarter. Two Sigma Investments LP now owns 4,804 shares of the industrial products company's stock valued at $338,000 after buying an additional 546 shares in the last quarter. Finally, Systematic Financial Management LP boosted its stake in shares of Kaiser Aluminum by 8.6% in the fourth quarter. Systematic Financial Management LP now owns 255,180 shares of the industrial products company's stock valued at $17,931,000 after buying an additional 20,263 shares in the last quarter. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Kaiser Aluminum Stock Down 0.5%

KALU opened at $72.77 on Friday. The business's fifty day moving average is $63.05 and its two-hundred day moving average is $69.65. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.36 and a current ratio of 2.44. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 25.36 and a beta of 1.40. Kaiser Aluminum Co. has a one year low of $46.81 and a one year high of $100.49.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The industrial products company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.91. Kaiser Aluminum had a return on equity of 6.25% and a net margin of 1.55%. The company had revenue of $777.40 million for the quarter, compared to the consensus estimate of $788.00 million. During the same period in the previous year, the business earned $1.02 earnings per share. Kaiser Aluminum's quarterly revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that Kaiser Aluminum Co. will post 5.14 EPS for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were given a $0.77 dividend. The ex-dividend date was Friday, April 25th. This represents a $3.08 annualized dividend and a dividend yield of 4.23%. Kaiser Aluminum's dividend payout ratio is currently 115.36%.

Wall Street Analyst Weigh In

KALU has been the topic of a number of analyst reports. Wolfe Research upgraded Kaiser Aluminum from an "underperform" rating to a "peer perform" rating in a research note on Friday, April 11th. JPMorgan Chase & Co. lifted 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. Benchmark decreased their target price on 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 downgraded Kaiser Aluminum from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th.

Read Our Latest Stock Report on Kaiser Aluminum

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.

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