Brightline Capital Management LLC Raises Stock Position in Kaiser Aluminum Co. (NASDAQ:KALU)

Brightline Capital Management LLC raised its holdings in Kaiser Aluminum Co. (NASDAQ:KALU) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 100,000 shares of the industrial products company’s stock after acquiring an additional 1,000 shares during the period. Kaiser Aluminum accounts for 3.1% of Brightline Capital Management LLC’s holdings, making the stock its 15th biggest holding. Brightline Capital Management LLC’s holdings in Kaiser Aluminum were worth $7,252,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in Kaiser Aluminum by 358.0% during the second quarter. American Century Companies Inc. now owns 250,809 shares of the industrial products company’s stock valued at $22,046,000 after acquiring an additional 196,045 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Kaiser Aluminum by 368.0% during the 2nd quarter. Bank of Montreal Can now owns 65,877 shares of the industrial products company’s stock valued at $5,917,000 after purchasing an additional 51,802 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its stake in shares of Kaiser Aluminum by 532,185.7% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 37,260 shares of the industrial products company’s stock valued at $3,275,000 after purchasing an additional 37,253 shares during the period. ClariVest Asset Management LLC purchased a new stake in Kaiser Aluminum during the second quarter worth $2,999,000. Finally, Allspring Global Investments Holdings LLC grew its position in Kaiser Aluminum by 3,349.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 31,254 shares of the industrial products company’s stock valued at $2,747,000 after buying an additional 30,348 shares during the period. 99.29% of the stock is owned by institutional investors and hedge funds.

Kaiser Aluminum Price Performance

Shares of Kaiser Aluminum stock traded up $1.62 during trading hours on Wednesday, reaching $83.30. The stock had a trading volume of 109 shares, compared to its average volume of 144,339. The stock’s 50 day moving average is $75.09 and its 200 day moving average is $81.04. The company has a current ratio of 2.60, a quick ratio of 1.36 and a debt-to-equity ratio of 1.56. Kaiser Aluminum Co. has a twelve month low of $57.52 and a twelve month high of $102.42. The firm has a market capitalization of $1.34 billion, a PE ratio of 28.26 and a beta of 1.32.

Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.16). The business had revenue of $748.00 million during the quarter, compared to analyst estimates of $793.30 million. Kaiser Aluminum had a return on equity of 6.92% and a net margin of 1.59%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 EPS. Equities analysts expect that Kaiser Aluminum Co. will post 2.63 earnings per share for the current fiscal year.

Kaiser Aluminum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were paid a $0.77 dividend. The ex-dividend date was Friday, October 25th. This represents a $3.08 dividend on an annualized basis and a yield of 3.70%. Kaiser Aluminum’s dividend payout ratio is currently 106.57%.

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.