Meeder Asset Management Inc. Makes New $63,000 Investment in Kaiser Aluminum Co. (NASDAQ:KALU)

Meeder Asset Management Inc. purchased a new stake in Kaiser Aluminum Co. (NASDAQ:KALU) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 722 shares of the industrial products company’s stock, valued at approximately $63,000.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Kaiser Aluminum by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,887,751 shares of the industrial products company’s stock valued at $134,389,000 after acquiring an additional 10,676 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in Kaiser Aluminum during the 1st quarter worth approximately $593,000. SageView Advisory Group LLC bought a new position in Kaiser Aluminum in the 1st quarter valued at approximately $1,264,000. First Hawaiian Bank acquired a new stake in Kaiser Aluminum in the second quarter valued at approximately $726,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Kaiser Aluminum by 10.3% during the first 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. Institutional investors and hedge funds own 99.29% of the company’s stock.

Kaiser Aluminum Stock Down 0.0 %

Shares of NASDAQ KALU opened at $68.89 on Friday. The company’s 50 day moving average price is $77.23 and its 200-day moving average price is $85.05. 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 Co. has a 52-week low of $53.67 and a 52-week high of $102.42. The company has a market capitalization of $1.11 billion, a P/E ratio of 20.03 and a beta of 1.33.

Kaiser Aluminum (NASDAQ:KALU) last released its earnings results on Wednesday, July 24th. The industrial products company reported $0.65 earnings per share (EPS) 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 firm had revenue of $773.40 million during the quarter, compared to analyst estimates of $773.89 million. During the same quarter in the previous year, the firm earned $1.26 EPS. Kaiser Aluminum’s quarterly revenue was down 5.0% on a year-over-year basis. Equities analysts forecast that Kaiser Aluminum Co. will post 3.04 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 25th were paid a dividend of $0.77 per share. The ex-dividend date was Thursday, July 25th. This represents a $3.08 annualized dividend and a yield of 4.47%. Kaiser Aluminum’s dividend payout ratio is currently 89.53%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

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

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.