Kaiser Aluminum (NASDAQ:KALU) Trading 5.8% Higher – Here’s Why

Shares of Kaiser Aluminum Co. (NASDAQ:KALU) were up 5.8% during trading on Thursday . The company traded as high as $77.11 and last traded at $75.52. Approximately 101,592 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 92,594 shares. The stock had previously closed at $71.36.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Kaiser Aluminum from a “hold” rating to a “sell” rating in a research note on Friday.

Kaiser Aluminum Stock Performance

The firm has a 50 day moving average price of $71.39 and a 200 day moving average price of $73.33. The stock has a market cap of $1.16 billion, a PE ratio of 25.04 and a beta of 1.34. The company has a quick ratio of 1.36, a current ratio of 2.44 and a debt-to-equity ratio of 1.56.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). The business had revenue of $765.40 million during the quarter, compared to the consensus estimate of $752.00 million. Kaiser Aluminum had a net margin of 1.55% and a return on equity of 6.25%. During the same quarter in the prior year, the firm posted $0.60 EPS. As a group, research analysts forecast that Kaiser Aluminum Co. will post 5.14 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.29%. The ex-dividend date was Friday, January 24th. Kaiser Aluminum’s dividend payout ratio is presently 107.32%.

Institutional Investors Weigh In On Kaiser Aluminum

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

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.