Rhumbline Advisers Buys 314 Shares of Kaiser Aluminum Co. (NASDAQ:KALU)

Rhumbline Advisers raised its stake in Kaiser Aluminum Co. (NASDAQ:KALU) by 0.6% during the second quarter, HoldingsChannel.com reports. The fund owned 51,374 shares of the industrial products company’s stock after purchasing an additional 314 shares during the quarter. Rhumbline Advisers’ holdings in Kaiser Aluminum were worth $4,516,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of KALU. Harvest Investment Advisors LLC grew its position in shares of Kaiser Aluminum by 1.6% during the fourth quarter. Harvest Investment Advisors LLC now owns 17,489 shares of the industrial products company’s stock valued at $1,245,000 after purchasing an additional 280 shares in the last quarter. EntryPoint Capital LLC boosted its stake in Kaiser Aluminum by 79.7% during the first quarter. EntryPoint Capital LLC now owns 861 shares of the industrial products company’s stock valued at $77,000 after buying an additional 382 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Kaiser Aluminum by 3.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,430 shares of the industrial products company’s stock valued at $1,093,000 after buying an additional 397 shares in the last quarter. New York State Teachers Retirement System increased its stake in Kaiser Aluminum by 8.1% in the 1st quarter. New York State Teachers Retirement System now owns 5,327 shares of the industrial products company’s stock worth $476,000 after acquiring an additional 400 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Kaiser Aluminum by 400.0% during the 1st quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 432 shares in the last quarter. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Benchmark raised their target price on shares of Kaiser Aluminum from $84.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 12th.

Insiders Place Their Bets

In other news, CEO Keith Harvey bought 2,588 shares of Kaiser Aluminum stock in a transaction dated Monday, July 29th. The shares were acquired at an average price of $77.23 per share, with a total value of $199,871.24. Following the completion of the purchase, the chief executive officer now owns 103,550 shares in the company, valued at approximately $7,997,166.50. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is owned by insiders.

Kaiser Aluminum Stock Down 0.0 %

Shares of NASDAQ:KALU opened at $68.89 on Monday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 20.03 and a beta of 1.33. Kaiser Aluminum Co. has a 12 month low of $53.67 and a 12 month high of $102.42. The company has a current ratio of 2.55, a quick ratio of 1.42 and a debt-to-equity ratio of 1.57. The company has a 50-day moving average price of $77.23 and a 200 day moving average price of $85.15.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.29). The company had revenue of $773.40 million for the quarter, compared to analysts’ expectations of $773.89 million. Kaiser Aluminum had a net margin of 1.37% and a return on equity of 6.84%. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter last year, the company earned $1.26 earnings per share. As a group, equities research analysts predict that Kaiser Aluminum Co. will post 3.04 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 25th were given a $0.77 dividend. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $3.08 dividend on an annualized basis and a yield of 4.47%. Kaiser Aluminum’s dividend payout ratio is presently 89.53%.

About Kaiser Aluminum

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.