Principal Financial Group Inc. trimmed its holdings in Kaiser Aluminum Co. (NASDAQ:KALU – Free Report) by 5.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,609 shares of the industrial products company’s stock after selling 5,303 shares during the quarter. Principal Financial Group Inc. owned about 0.53% of Kaiser Aluminum worth $6,443,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of Kaiser Aluminum by 314.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 518 shares of the industrial products company’s stock valued at $38,000 after buying an additional 393 shares during the period. Quadrant Capital Group LLC raised its position in shares of Kaiser Aluminum by 540.0% during the 2nd quarter. Quadrant Capital Group LLC now owns 544 shares of the industrial products company’s stock valued at $39,000 after buying an additional 459 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Kaiser Aluminum during the 2nd quarter valued at approximately $45,000. NewEdge Advisors LLC raised its position in shares of Kaiser Aluminum by 2,214.3% during the 1st quarter. NewEdge Advisors LLC now owns 810 shares of the industrial products company’s stock valued at $60,000 after buying an additional 775 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Kaiser Aluminum during the 2nd quarter valued at approximately $80,000.
Analyst Upgrades and Downgrades
Several research firms have recently commented on KALU. JPMorgan Chase & Co. reduced their price target on shares of Kaiser Aluminum from $64.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, January 11th. StockNews.com upgraded shares of Kaiser Aluminum from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Finally, UBS Group initiated coverage on shares of Kaiser Aluminum in a report on Tuesday, January 16th. They issued a “neutral” rating and a $67.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $70.00.
Kaiser Aluminum Stock Performance
NASDAQ:KALU opened at $63.20 on Tuesday. The company has a fifty day simple moving average of $65.16 and a two-hundred day simple moving average of $68.37. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 78.02 and a beta of 1.34. The company has a quick ratio of 1.35, a current ratio of 2.68 and a debt-to-equity ratio of 1.62. Kaiser Aluminum Co. has a 52 week low of $53.67 and a 52 week high of $94.54.
Kaiser Aluminum Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, January 25th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $3.08 annualized dividend and a dividend yield of 4.87%. Kaiser Aluminum’s dividend payout ratio (DPR) is 380.25%.
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. The company offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.
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