Kaiser Aluminum Co. (NASDAQ:KALU) Shares Bought by American Century Companies Inc.

American Century Companies Inc. grew its stake in Kaiser Aluminum Co. (NASDAQ:KALU) by 358.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250,809 shares of the industrial products company’s stock after buying an additional 196,045 shares during the period. American Century Companies Inc.’s holdings in Kaiser Aluminum were worth $22,046,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of KALU. Vanguard Group Inc. boosted its stake in Kaiser Aluminum by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,894,114 shares of the industrial products company’s stock valued at $169,258,000 after acquiring an additional 6,363 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kaiser Aluminum by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 272,900 shares of the industrial products company’s stock valued at $19,428,000 after purchasing an additional 13,593 shares during the last quarter. Tributary Capital Management LLC boosted its position in shares of Kaiser Aluminum by 0.3% in the 2nd quarter. Tributary Capital Management LLC now owns 271,976 shares of the industrial products company’s stock valued at $23,907,000 after purchasing an additional 856 shares during the period. Russell Investments Group Ltd. grew its stake in Kaiser Aluminum by 10.3% during the 1st quarter. Russell Investments Group Ltd. now owns 226,171 shares of the industrial products company’s stock worth $20,211,000 after buying an additional 21,192 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Kaiser Aluminum by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 206,505 shares of the industrial products company’s stock worth $18,152,000 after buying an additional 3,039 shares during the period. 99.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Kaiser Aluminum

In other news, CEO Keith Harvey purchased 2,588 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were acquired at an average cost of $77.23 per share, for a total transaction of $199,871.24. Following the completion of the purchase, the chief executive officer now directly owns 103,550 shares in the company, valued at approximately $7,997,166.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.50% of the company’s stock.

Kaiser Aluminum Price Performance

Shares of KALU opened at $71.28 on Friday. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 20.72 and a beta of 1.33. Kaiser Aluminum Co. has a fifty-two week low of $53.67 and a fifty-two week high of $102.42. The firm has a 50-day simple moving average of $76.00 and a 200-day simple moving average of $84.99. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.42 and a current ratio of 2.55.

Kaiser Aluminum (NASDAQ:KALU) last announced its earnings results on Wednesday, July 24th. The industrial products company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.29). Kaiser Aluminum had a net margin of 1.37% and a return on equity of 6.84%. The company had revenue of $773.40 million during the quarter, compared to analysts’ expectations of $773.89 million. During the same quarter last year, the business posted $1.26 earnings per share. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that Kaiser Aluminum Co. will post 3.04 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th were given a dividend of $0.77 per share. The ex-dividend date was Thursday, July 25th. This represents a $3.08 dividend on an annualized basis and a yield of 4.32%. Kaiser Aluminum’s payout ratio is currently 89.53%.

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.