In the first quarter of this year, Barrow Hanley Mewhinney & Strauss LLC, a renowned institutional investor firm, increased its position in Kaiser Aluminum Co. (NASDAQ:KALU) by 20.6%. This significant move was revealed in the company’s most recent Form 13F filing with the Securities & Exchange Commission. By purchasing an additional 139,145 shares during this period, Barrow Hanley Mewhinney & Strauss LLC now owns 815,300 shares of Kaiser Aluminum’s stock. At the end of the reporting period, this stake represented around 5.10% of Kaiser Aluminum’s overall value amounting to approximately $60,846,000.
Further demonstrating its commitment to investors, Kaiser Aluminum recently announced a quarterly dividend that was paid on August 15th. Shareholders who were recorded as such on July 25th received a dividend payment of $0.77 per share. This equates to an annualized dividend of $3.08 and translates into a yield of 4.28%. Notably, the ex-dividend date fell on July 24th.
Kaiser Aluminum’s dividend payout ratio (DPR) currently stands at an impressive 488.89%. This ratio indicates that the company is distributing more in dividends than it earns in profits a testament to their strong focus on rewarding shareholders with regular and attractive payouts.
Investors are closely monitoring these developments as they consider the implications for their investment portfolios. The increased position taken by Barrow Hanley Mewhinney & Strauss LLC signifies growing confidence in Kaiser Aluminum’s prospects within the industrial products industry.
Kaiser Aluminum has established itself as a leading provider of value-added aluminum solutions for various market segments including aerospace and automotive industries crucial sectors that demand high-performance materials with exceptional reliability and safety standards.
The events surrounding Kaiser Aluminum serve as insightful indicators for market observers seeking to make informed decisions. The company’s steady dividend payments and commitment to shareholder value underline its financial stability and potential for future growth. August 26, 2023, marks a point of reference for these noteworthy developments at Kaiser Aluminum Co.
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Institutional Investors’ Positions and Analyst Opinions Impact Kaiser Aluminum’s Stock
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”KALU” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Institutional investors have recently made changes to their positions in Kaiser Aluminum, a leading industrial products company. Tower Research Capital LLC TRC saw a significant growth of 314.4% in its position in the company during the first quarter. After acquiring an additional 393 shares, Tower Research Capital LLC TRC now owns 518 shares of Kaiser Aluminum’s stock with a value of $38,000. Similarly, Point72 Hong Kong Ltd entered the scene in the second quarter with a new position worth about $80,000.
Captrust Financial Advisors also witnessed a substantial increase of 76.1% in their ownership of Kaiser Aluminum during the first quarter. After adding an extra 439 shares, Captrust Financial Advisors now holds 1,016 shares valued at $96,000. As for Public Employees Retirement System of Ohio, their position grew by 14.2% in the third quarter with an additional 206 shares valued at $102,000.
Furthermore, ETF Managers Group LLC joined forces with Kaiser Aluminum by buying new positions worth approximately $139,000 in the first quarter.
Notably, various research analysts have evaluated Kaiser Aluminum and shared their insights on the company’s performance. JPMorgan Chase & Co., for instance, recently increased its target price from $69.00 to $70.00 based on their research report published on Friday, July 14th. Meanwhile, StockNews.com initiated coverage on Kaiser Aluminum and rated it as “sell” in their research report released on Thursday, August 17th. Additionally, 22nd Century Group reiterated a positive view on shares of Kaiser Aluminum in another research report issued on Thursday June 15th.
It is important to note that out of these assessments, three analysts have given the stock a sell rating while one has issued a hold rating and one has deemed it worthy of a buy rating. According to data from Bloomberg.com, Kaiser Aluminum holds an average rating of “Hold” and has a consensus target price of $72.75.
On Friday, August 26th, shares of Kaiser Aluminum were traded at $71.98 with a total volume of 9,898 shares being exchanged, deviating from its average volume of 119,591 shares. The stock’s moving averages for the past 50 days and 200 days stood at $75.12 and $72.15 respectively. With a current ratio of 2.81 and quick ratio of 1.41, Kaiser Aluminum maintains a strong financial position. Additionally, the company has a debt-to-equity ratio of 1.65 and its market capitalization is valued at $1.15 billion.
Kaiser Aluminum announced its quarterly earnings data on Wednesday, July 26th, recording an EPS (earning per share) of $1.26 for the quartersurpassing analysts’ consensus estimates by $0.80 as they anticipated an EPS of $0.46. The company generated revenue of $814 million during the quarter, surpassing the consensus estimate of $797 million. Despite a challenging economic climate that led to a 14.7% decrease in revenue compared to the same quarter last year, Kaiser Aluminum managed to achieve these impressive results.
With a net margin of 0.34% and a return on equity of 1.99%, Kaiser Aluminum proved its resilience in maintaining profitability even amidst adverse market conditions.
Looking ahead, equities research analysts predict that Kaiser Aluminum will post earnings per share (EPS) of 2.59 for the current year.
In conclusion, Kaiser Aluminum has attracted attention from institutional investors who have adjusted their positions in recent months due to various factors such as company growth and market dynamics. Moreover, research analysts have shared their thoughts on the company’s performance through ratings and target price adjustments based on thorough assessments.
