Fisher Asset Management LLC Lowers Stake in Kaiser Aluminum Co. (NASDAQ:KALU)

Fisher Asset Management LLC cut its position in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147,421 shares of the industrial products company’s stock after selling 16,289 shares during the quarter. Fisher Asset Management LLC owned approximately 0.92% of Kaiser Aluminum worth $10,495,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. purchased a new stake in shares of Kaiser Aluminum during the fourth quarter worth about $1,136,000. Norges Bank purchased a new stake in Kaiser Aluminum in the fourth quarter valued at approximately $7,415,000. Louisiana State Employees Retirement System purchased a new stake in Kaiser Aluminum in the fourth quarter valued at approximately $570,000. New York State Teachers Retirement System grew its holdings in Kaiser Aluminum by 11.3% in the fourth quarter. New York State Teachers Retirement System now owns 4,927 shares of the industrial products company’s stock valued at $351,000 after purchasing an additional 500 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Kaiser Aluminum by 0.5% in the third quarter. Vanguard Group Inc. now owns 1,877,075 shares of the industrial products company’s stock valued at $141,269,000 after purchasing an additional 8,771 shares during the period. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Kaiser Aluminum Trading Up 0.7 %

Shares of KALU stock opened at $88.91 on Thursday. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 25.85 and a beta of 1.37. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 1.56. Kaiser Aluminum Co. has a fifty-two week low of $53.67 and a fifty-two week high of $102.42. The firm’s 50 day moving average price is $93.98 and its two-hundred day moving average price is $79.21.

Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.44. The firm had revenue of $738.00 million for the quarter, compared to analysts’ expectations of $733.34 million. Kaiser Aluminum had a net margin of 1.85% and a return on equity of 8.40%. Kaiser Aluminum’s revenue was down 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 earnings per share. On average, analysts anticipate that Kaiser Aluminum Co. will post 4.12 EPS for the current year.

Kaiser Aluminum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Thursday, April 25th were given a dividend of $0.77 per share. The ex-dividend date was Wednesday, April 24th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.46%. Kaiser Aluminum’s payout ratio is currently 89.53%.

Analyst Upgrades and Downgrades

KALU has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Kaiser Aluminum from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Benchmark restated a “buy” rating and issued a $84.00 target price on shares of Kaiser Aluminum in a report on Friday, April 19th.

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.