ARK Investment Management LLC Decreases Stock Position in Kaiser Aluminum Co. (NASDAQ:KALU)

ARK Investment Management LLC reduced its holdings in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 23.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,105 shares of the industrial products company’s stock after selling 4,746 shares during the quarter. ARK Investment Management LLC owned approximately 0.09% of Kaiser Aluminum worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its stake in shares of Kaiser Aluminum by 941.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 906 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 819 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Kaiser Aluminum by 20.6% during the 1st quarter. BNP Paribas Financial Markets now owns 15,780 shares of the industrial products company’s stock valued at $1,410,000 after buying an additional 2,695 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Kaiser Aluminum by 16.6% during the first quarter. Janney Montgomery Scott LLC now owns 4,031 shares of the industrial products company’s stock worth $360,000 after buying an additional 573 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Kaiser Aluminum in the first quarter worth $238,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Kaiser Aluminum in the first quarter valued at $132,000. Institutional investors and hedge funds own 99.29% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Benchmark lifted their price objective on Kaiser Aluminum from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 12th.

Kaiser Aluminum Stock Up 1.2 %

Shares of NASDAQ KALU opened at $84.56 on Friday. The firm’s 50 day moving average price is $72.34 and its 200 day moving average price is $82.13. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.36 and a current ratio of 2.60. The firm has a market cap of $1.36 billion, a P/E ratio of 29.26 and a beta of 1.32. Kaiser Aluminum Co. has a 1 year low of $54.59 and a 1 year high of $102.42.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.16). Kaiser Aluminum had a return on equity of 6.92% and a net margin of 1.59%. The business had revenue of $748.00 million for the quarter, compared to analyst estimates of $793.30 million. During the same quarter last year, the business earned $0.46 EPS. Kaiser Aluminum’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kaiser Aluminum Co. will post 2.63 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, October 25th. This represents a $3.08 annualized dividend and a dividend yield of 3.64%. Kaiser Aluminum’s payout ratio is currently 106.57%.

Kaiser Aluminum Company 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.