Bastion Asset Management Inc. Makes New $1.88 Million Investment in Kaiser Aluminum Co. (NASDAQ:KALU)

Bastion Asset Management Inc. purchased a new position in Kaiser Aluminum Co. (NASDAQ:KALU) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 24,845 shares of the industrial products company’s stock, valued at approximately $1,878,000.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Kaiser Aluminum by 103.6% during the fourth quarter. Wellington Management Group LLP now owns 431,980 shares of the industrial products company’s stock valued at $30,355,000 after buying an additional 219,827 shares during the last quarter. Empowered Funds LLC purchased a new stake in Kaiser Aluminum during the fourth quarter valued at approximately $3,878,000. American Century Companies Inc. boosted its stake in Kaiser Aluminum by 12.6% in the fourth quarter. American Century Companies Inc. now owns 447,723 shares of the industrial products company’s stock valued at $31,461,000 after acquiring an additional 49,948 shares in the last quarter. Norges Bank purchased a new position in Kaiser Aluminum in the fourth quarter worth $3,312,000. Finally, Stephens Inc. AR acquired a new position in shares of Kaiser Aluminum during the fourth quarter worth $3,150,000. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KALU. Wolfe Research raised Kaiser Aluminum from an “underperform” rating to a “peer perform” rating in a research report on Friday, April 11th. StockNews.com upgraded Kaiser Aluminum from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. JPMorgan Chase & Co. increased their price objective on shares of Kaiser Aluminum from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, April 28th. Finally, Benchmark dropped their target price on shares of Kaiser Aluminum from $100.00 to $74.00 and set a “buy” rating on the stock in a research report on Monday, April 21st.

Kaiser Aluminum Stock Up 3.8 %

Shares of KALU stock opened at $69.16 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.36 and a current ratio of 2.44. Kaiser Aluminum Co. has a fifty-two week low of $46.81 and a fifty-two week high of $102.42. The firm has a market capitalization of $1.12 billion, a PE ratio of 24.10 and a beta of 1.40. The stock’s 50-day simple moving average is $62.27 and its 200-day simple moving average is $70.38.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.91. The company had revenue of $777.40 million during the quarter, compared to analyst estimates of $788.00 million. Kaiser Aluminum had a net margin of 1.55% and a return on equity of 6.25%. Kaiser Aluminum’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $1.02 EPS. Equities analysts expect that Kaiser Aluminum Co. will post 5.14 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.45%. The ex-dividend date is Friday, April 25th. Kaiser Aluminum’s dividend payout ratio is currently 115.36%.

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.