Hsbc Holdings PLC Grows Stock Holdings in Kaiser Aluminum Co. (NASDAQ:KALU)

Hsbc Holdings PLC grew its holdings in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 34.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,375 shares of the industrial products company’s stock after purchasing an additional 2,141 shares during the quarter. Hsbc Holdings PLC’s holdings in Kaiser Aluminum were worth $731,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in KALU. National Bank of Canada FI purchased a new position in Kaiser Aluminum during the second quarter worth about $32,000. GAMMA Investing LLC boosted its position in shares of Kaiser Aluminum by 400.0% in the first quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 432 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Kaiser Aluminum in the second quarter valued at approximately $63,000. EntryPoint Capital LLC increased its position in Kaiser Aluminum by 79.7% during the first quarter. EntryPoint Capital LLC now owns 861 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 382 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Kaiser Aluminum by 941.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 906 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 819 shares during the period. Institutional investors and hedge funds own 99.29% of the company’s stock.

Insider Transactions at Kaiser Aluminum

In related news, CEO Keith Harvey bought 2,588 shares of the company’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now owns 103,550 shares in the company, valued at approximately $7,997,166.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Kaiser Aluminum Stock Up 0.1 %

Shares of NASDAQ:KALU opened at $73.18 on Monday. Kaiser Aluminum Co. has a 1 year low of $53.67 and a 1 year high of $102.42. The stock has a 50-day simple moving average of $72.68 and a 200-day simple moving average of $84.91. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.42 and a current ratio of 2.55. The stock has a market capitalization of $1.18 billion, a P/E ratio of 21.27 and a beta of 1.33.

Kaiser Aluminum (NASDAQ:KALU) last issued its earnings results on Wednesday, July 24th. The industrial products company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.29). Kaiser Aluminum had a net margin of 1.37% and a return on equity of 6.84%. The business had revenue of $773.40 million during the quarter, compared to analysts’ expectations of $773.89 million. During the same period in the prior year, the business posted $1.26 EPS. The business’s 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend was Thursday, July 25th. Kaiser Aluminum’s dividend payout ratio is presently 89.53%.

Analyst Ratings Changes

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

Kaiser Aluminum 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.