Kaiser Aluminum (NASDAQ:KALU) Sets New 52-Week Low – Here’s What Happened

Kaiser Aluminum Co. (NASDAQ:KALU) reached a new 52-week low during trading on Friday . The stock traded as low as $62.55 and last traded at $62.89, with a volume of 23473 shares traded. The stock had previously closed at $64.91.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Kaiser Aluminum from a “sell” rating to a “hold” rating in a research note on Sunday, March 23rd.

Kaiser Aluminum Trading Down 4.3 %

The company has a debt-to-equity ratio of 1.56, a current ratio of 2.44 and a quick ratio of 1.36. The stock’s fifty day moving average price is $69.93 and its 200 day moving average price is $72.99. The stock has a market capitalization of $999.65 million, a P/E ratio of 21.63 and a beta of 1.37.

Kaiser Aluminum (NASDAQ:KALU) last announced its earnings results on Wednesday, February 19th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Kaiser Aluminum had a net margin of 1.55% and a return on equity of 6.25%. The company had revenue of $765.40 million for the quarter, compared to the consensus estimate of $752.00 million. During the same period last year, the business posted $0.60 EPS. Research analysts forecast that Kaiser Aluminum Co. will post 5.14 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.96%. The ex-dividend date was Friday, January 24th. Kaiser Aluminum’s dividend payout ratio is currently 107.32%.

Hedge Funds Weigh In On Kaiser Aluminum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its holdings in Kaiser Aluminum by 103.6% in the 4th quarter. Wellington Management Group LLP now owns 431,980 shares of the industrial products company’s stock valued at $30,355,000 after acquiring an additional 219,827 shares during the last quarter. McIlrath & Eck LLC acquired a new position in shares of Kaiser Aluminum in the 4th quarter worth approximately $121,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Kaiser Aluminum by 7.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,887 shares of the industrial products company’s stock valued at $2,873,000 after acquiring an additional 2,903 shares during the period. Voloridge Investment Management LLC raised its stake in shares of Kaiser Aluminum by 7.5% in the fourth quarter. Voloridge Investment Management LLC now owns 18,880 shares of the industrial products company’s stock valued at $1,327,000 after acquiring an additional 1,325 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in Kaiser Aluminum by 12.8% in the fourth quarter. Two Sigma Investments LP now owns 4,804 shares of the industrial products company’s stock worth $338,000 after acquiring an additional 546 shares during the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

About Kaiser Aluminum

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.