Norges Bank Takes Position in Kaiser Aluminum Co. (NASDAQ:KALU)

Norges Bank acquired a new stake in Kaiser Aluminum Co. (NASDAQ:KALU) during the fourth quarter, HoldingsChannel reports. The fund acquired 47,132 shares of the industrial products company’s stock, valued at approximately $3,312,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Empowered Funds LLC bought a new position in Kaiser Aluminum during the 4th quarter worth approximately $3,878,000. American Century Companies Inc. grew its stake in shares of Kaiser Aluminum by 12.6% during the 4th quarter. American Century Companies Inc. now owns 447,723 shares of the industrial products company’s stock worth $31,461,000 after acquiring an additional 49,948 shares in the last quarter. Barclays PLC increased its position in shares of Kaiser Aluminum by 101.3% in the third quarter. Barclays PLC now owns 27,454 shares of the industrial products company’s stock valued at $1,991,000 after acquiring an additional 13,813 shares during the last quarter. Amundi increased its position in shares of Kaiser Aluminum by 196.0% during the 4th quarter. Amundi now owns 8,934 shares of the industrial products company’s stock worth $629,000 after purchasing an additional 5,916 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Kaiser Aluminum by 6.7% during the third quarter. Principal Financial Group Inc. now owns 84,370 shares of the industrial products company’s stock worth $6,119,000 after acquiring an additional 5,287 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors.

Kaiser Aluminum Price Performance

Shares of NASDAQ KALU opened at $52.27 on Friday. The business’s 50 day moving average is $66.17 and its 200-day moving average is $71.78. The firm has a market cap of $841.55 million, a P/E ratio of 18.21 and a beta of 1.32. Kaiser Aluminum Co. has a 1-year low of $46.81 and a 1-year high of $102.42. The company has a current ratio of 2.44, a quick ratio of 1.36 and a debt-to-equity ratio of 1.56.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). The business had revenue of $765.40 million during the quarter, compared to analyst estimates of $752.00 million. Kaiser Aluminum had a return on equity of 6.25% and a net margin of 1.55%. During the same quarter last year, the firm earned $0.60 EPS. Equities research analysts predict that Kaiser Aluminum Co. will post 5.14 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $3.08 annualized dividend and a yield of 5.89%. Kaiser Aluminum’s dividend payout ratio is 107.32%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Kaiser Aluminum from a “hold” rating to a “sell” rating in a research note on Thursday.

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. It offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.