Jennison Associates LLC Makes New $756,000 Investment in Kaiser Aluminum Corporation $KALU

Jennison Associates LLC bought a new stake in Kaiser Aluminum Corporation (NASDAQ:KALU) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 6,271 shares of the industrial products company’s stock, valued at approximately $756,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in KALU. Allspring Global Investments Holdings LLC acquired a new position in Kaiser Aluminum during the fourth quarter valued at approximately $5,018,000. Hillsdale Investment Management Inc. bought a new stake in Kaiser Aluminum during the fourth quarter worth $5,410,000. JPMorgan Chase & Co. boosted its holdings in shares of Kaiser Aluminum by 24.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 79,701 shares of the industrial products company’s stock valued at $6,150,000 after purchasing an additional 15,528 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Kaiser Aluminum by 14.0% in the 4th quarter. Fisher Asset Management LLC now owns 157,078 shares of the industrial products company’s stock valued at $18,042,000 after purchasing an additional 19,291 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its stake in shares of Kaiser Aluminum by 47.9% in the 4th quarter. Deprince Race & Zollo Inc. now owns 47,236 shares of the industrial products company’s stock valued at $5,426,000 after purchasing an additional 15,299 shares during the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kaiser Aluminum

In other news, CEO Keith Harvey sold 47,001 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $175.09, for a total transaction of $8,229,405.09. Following the sale, the chief executive officer directly owned 97,339 shares in the company, valued at approximately $17,043,085.51. The trade was a 32.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brett Wilcox sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $174.44, for a total value of $2,616,600.00. Following the completion of the transaction, the director directly owned 9,887 shares of the company’s stock, valued at $1,724,688.28. This represents a 60.27% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 71,731 shares of company stock valued at $12,529,097. 1.30% of the stock is currently owned by corporate insiders.

Kaiser Aluminum Stock Performance

NASDAQ KALU opened at $164.32 on Thursday. The firm’s fifty day moving average price is $176.12 and its two-hundred day moving average price is $150.31. The stock has a market cap of $2.68 billion, a PE ratio of 17.90 and a beta of 1.59. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.14 and a current ratio of 2.47. Kaiser Aluminum Corporation has a fifty-two week low of $71.44 and a fifty-two week high of $195.96.

Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $5.53 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $2.87. Kaiser Aluminum had a return on equity of 17.00% and a net margin of 4.14%.The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the company earned $1.21 EPS. Kaiser Aluminum’s revenue was up 52.7% compared to the same quarter last year. On average, equities analysts expect that Kaiser Aluminum Corporation will post 9.11 EPS for the current fiscal year.

Kaiser Aluminum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 24th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, July 24th. Kaiser Aluminum’s dividend payout ratio is presently 33.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Zacks Research cut Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Wall Street Zen raised Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 18th. KeyCorp lifted their target price on Kaiser Aluminum from $170.00 to $183.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Wells Fargo & Company reissued an “underweight” rating and set a $158.00 target price on shares of Kaiser Aluminum in a research note on Thursday, July 9th. Finally, UBS Group increased their target price on shares of Kaiser Aluminum from $176.00 to $179.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $165.50.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation is a U.S.-based producer of semi‐fabricated aluminum products, serving a diverse range of industrial and specialty markets. The company’s offerings include extruded, rolled, and forged aluminum products designed to meet stringent performance requirements in sectors such as aerospace, automotive, defense, electronics, and general engineering. By focusing on high‐value applications, Kaiser Aluminum aims to deliver lightweight, durable solutions that contribute to efficiency and innovation across its customer base.

Operationally, Kaiser Aluminum maintains a network of smelters, extrusion plants, and rolling mills located primarily in North America.