Edgestream Partners L.P. Lowers Stock Holdings in Kaiser Aluminum Corporation $KALU

Edgestream Partners L.P. cut its holdings in Kaiser Aluminum Corporation (NASDAQ:KALU) by 84.5% in the 1st quarter, HoldingsChannel reports. The fund owned 6,737 shares of the industrial products company’s stock after selling 36,736 shares during the period. Edgestream Partners L.P.’s holdings in Kaiser Aluminum were worth $812,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of Kaiser Aluminum by 31.9% during the second quarter. State Street Corp now owns 1,154,415 shares of the industrial products company’s stock worth $92,238,000 after purchasing an additional 279,231 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in Kaiser Aluminum in the third quarter valued at $13,111,000. Brightline Capital Management LLC purchased a new position in Kaiser Aluminum during the fourth quarter worth about $19,296,000. Goldman Sachs Group Inc. lifted its position in Kaiser Aluminum by 111.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 179,781 shares of the industrial products company’s stock worth $20,650,000 after buying an additional 94,874 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in Kaiser Aluminum by 211.2% in the 2nd quarter. Raymond James Financial Inc. now owns 82,553 shares of the industrial products company’s stock worth $6,596,000 after buying an additional 56,028 shares during the last quarter. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Kaiser Aluminum Price Performance

Shares of Kaiser Aluminum stock opened at $174.61 on Wednesday. Kaiser Aluminum Corporation has a twelve month low of $71.44 and a twelve month high of $195.96. The stock has a market capitalization of $2.85 billion, a P/E ratio of 12.94 and a beta of 1.61. The company has a current ratio of 2.50, a quick ratio of 1.17 and a debt-to-equity ratio of 1.10. The business’s fifty day moving average price is $174.64 and its 200 day moving average price is $152.88.

Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $5.53 EPS for the quarter, topping the consensus estimate of $2.66 by $2.87. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.12 billion. Kaiser Aluminum had a return on equity of 24.71% and a net margin of 5.49%.The firm’s revenue was up 52.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. As a group, research analysts anticipate that Kaiser Aluminum Corporation will post 10.63 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 24th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, July 24th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.8%. Kaiser Aluminum’s payout ratio is presently 22.83%.

Wall Street Analyst Weigh In

Several research firms have commented on KALU. Wall Street Zen upgraded Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a report on Sunday. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $142.00 price objective (up from $124.00) on shares of Kaiser Aluminum in a report on Thursday, April 30th. Zacks Research raised shares of Kaiser Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Wells Fargo & Company boosted their target price on shares of Kaiser Aluminum from $158.00 to $169.00 and gave the company an “underweight” rating in a report on Friday, July 24th. Finally, UBS Group upped their price target on shares of Kaiser Aluminum from $176.00 to $179.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. One 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 stock. Based on data from MarketBeat.com, Kaiser Aluminum currently has a consensus rating of “Hold” and a consensus target price of $168.25.

Kaiser Aluminum 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.