Tributary Capital Management LLC Has $17.87 Million Stake in Kaiser Aluminum Co. (NASDAQ:KALU)

Tributary Capital Management LLC cut its stake in Kaiser Aluminum Co. (NASDAQ:KALU - Free Report) by 9.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 246,476 shares of the industrial products company's stock after selling 25,500 shares during the quarter. Tributary Capital Management LLC owned approximately 1.53% of Kaiser Aluminum worth $17,874,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. American Century Companies Inc. boosted its holdings in Kaiser Aluminum by 358.0% in the second quarter. American Century Companies Inc. now owns 250,809 shares of the industrial products company's stock worth $22,046,000 after purchasing an additional 196,045 shares in the last quarter. Bank of Montreal Can boosted its holdings in Kaiser Aluminum by 368.0% in the second quarter. Bank of Montreal Can now owns 65,877 shares of the industrial products company's stock worth $5,917,000 after purchasing an additional 51,802 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in Kaiser Aluminum by 532,185.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 37,260 shares of the industrial products company's stock worth $3,275,000 after purchasing an additional 37,253 shares in the last quarter. ClariVest Asset Management LLC bought a new stake in Kaiser Aluminum in the second quarter worth $2,999,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Kaiser Aluminum by 3,349.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 31,254 shares of the industrial products company's stock worth $2,747,000 after purchasing an additional 30,348 shares in the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.

Kaiser Aluminum Stock Performance

Shares of NASDAQ KALU traded up $7.73 during mid-day trading on Monday, hitting $76.07. The company had a trading volume of 372,428 shares, compared to its average volume of 144,981. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.55 and a quick ratio of 1.42. The business's 50-day simple moving average is $71.15 and its 200-day simple moving average is $82.79. Kaiser Aluminum Co. has a 12 month low of $54.24 and a 12 month high of $102.42. The firm has a market cap of $1.22 billion, a P/E ratio of 21.61 and a beta of 1.33.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last posted its quarterly earnings results 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). Kaiser Aluminum had a return on equity of 6.84% and a net margin of 1.37%. The business had revenue of $748.00 million during the quarter, compared to analyst estimates of $793.30 million. During the same period last year, the company earned $0.46 EPS. The business's revenue for the quarter was up .5% on a year-over-year basis. As a group, analysts predict that Kaiser Aluminum Co. will post 2.99 earnings per share for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.05%. The ex-dividend date is Friday, October 25th. Kaiser Aluminum's dividend payout ratio (DPR) is presently 89.53%.

Analyst Upgrades and Downgrades

Separately, Benchmark upped their price target on shares of Kaiser Aluminum from $84.00 to $100.00 and gave the company a "buy" rating in a report on Friday, July 12th.

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.