JPMorgan Chase & Co. Reduces Stock Holdings in Kaiser Aluminum Co. (NASDAQ:KALU)

JPMorgan Chase & Co. reduced its position in Kaiser Aluminum Co. (NASDAQ:KALU - Free Report) by 9.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,551 shares of the industrial products company's stock after selling 5,179 shares during the quarter. JPMorgan Chase & Co. owned 0.31% of Kaiser Aluminum worth $3,666,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Point72 DIFC Ltd bought a new position in Kaiser Aluminum in the third quarter worth about $41,000. nVerses Capital LLC bought a new position in shares of Kaiser Aluminum during the 3rd quarter worth approximately $65,000. CWM LLC lifted its position in Kaiser Aluminum by 125.3% during the third quarter. CWM LLC now owns 1,282 shares of the industrial products company's stock valued at $93,000 after acquiring an additional 713 shares during the last quarter. Millburn Ridgefield Corp acquired a new stake in Kaiser Aluminum in the third quarter valued at approximately $169,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Kaiser Aluminum in the second quarter worth $207,000. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Kaiser Aluminum Stock Down 0.9 %

Shares of Kaiser Aluminum stock traded down $0.69 during trading on Friday, reaching $73.68. The company's stock had a trading volume of 67,171 shares, compared to its average volume of 89,793. Kaiser Aluminum Co. has a 1-year low of $59.52 and a 1-year high of $102.42. The company has a 50-day simple moving average of $76.20 and a two-hundred day simple moving average of $75.99. The company has a quick ratio of 1.36, a current ratio of 2.60 and a debt-to-equity ratio of 1.56. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 25.49 and a beta of 1.35.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.16). The company had revenue of $748.00 million for the quarter, compared to analyst estimates of $793.30 million. Kaiser Aluminum had a net margin of 1.59% and a return on equity of 6.92%. The business's revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 EPS. As a group, equities analysts forecast that Kaiser Aluminum Co. will post 2.63 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 24th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Friday, January 24th. Kaiser Aluminum's payout ratio is 106.57%.

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.