Renaissance Technologies LLC Boosts Holdings in Kaiser Aluminum Corporation $KALU

Renaissance Technologies LLC grew its stake in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) by 363.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,814 shares of the industrial products company’s stock after acquiring an additional 26,514 shares during the quarter. Renaissance Technologies LLC owned about 0.21% of Kaiser Aluminum worth $4,075,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of KALU. Royal Bank of Canada increased its position in Kaiser Aluminum by 212.6% during the first quarter. Royal Bank of Canada now owns 5,815 shares of the industrial products company’s stock worth $352,000 after purchasing an additional 3,955 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Kaiser Aluminum in the 1st quarter valued at $247,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Kaiser Aluminum by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,491 shares of the industrial products company’s stock valued at $575,000 after buying an additional 397 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Kaiser Aluminum by 2.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,971 shares of the industrial products company’s stock valued at $2,544,000 after buying an additional 1,084 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Kaiser Aluminum by 323.6% during the 1st quarter. Jane Street Group LLC now owns 55,190 shares of the industrial products company’s stock worth $3,346,000 after buying an additional 42,160 shares during the last quarter. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Kaiser Aluminum Stock Performance

Kaiser Aluminum stock opened at $184.75 on Friday. The stock’s 50 day moving average price is $174.25 and its 200 day moving average price is $153.72. The firm has a market capitalization of $3.02 billion, a PE ratio of 13.70 and a beta of 1.61. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.17 and a current ratio of 2.50. Kaiser Aluminum Corporation has a one year low of $71.44 and a one year high of $195.96.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $5.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $2.87. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.12 billion. Kaiser Aluminum had a net margin of 5.49% and a return on equity of 24.71%. Kaiser Aluminum’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same quarter last year, the company earned $1.21 earnings per share. As a group, sell-side analysts expect that Kaiser Aluminum Corporation will post 10.63 EPS for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 24th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, July 24th. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 22.83%.

Wall Street Analyst Weigh In

KALU has been the topic of a number of research analyst reports. Zacks Research upgraded Kaiser Aluminum from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Wall Street Zen upgraded Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 2nd. Wells Fargo & Company raised their price objective on Kaiser Aluminum from $158.00 to $169.00 and gave the stock an “underweight” rating in a report on Friday, July 24th. KeyCorp lifted their price objective on Kaiser Aluminum from $170.00 to $183.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $142.00 target price (up from $124.00) on shares of Kaiser Aluminum in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $168.25.

Kaiser Aluminum 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.