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

Tributary Capital Management LLC trimmed its stake in Kaiser Aluminum Co. (NASDAQ:KALU) by 9.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 246,476 shares of the industrial products company’s stock after selling 25,500 shares during the quarter. Tributary Capital Management LLC owned about 1.53% of Kaiser Aluminum worth $17,874,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers grew its stake in Kaiser Aluminum by 0.6% in the second quarter. Rhumbline Advisers now owns 51,374 shares of the industrial products company’s stock valued at $4,516,000 after acquiring an additional 314 shares during the period. National Bank of Canada FI bought a new stake in Kaiser Aluminum during the 2nd quarter valued at $32,000. EntryPoint Capital LLC raised its holdings in Kaiser Aluminum by 79.7% during the first quarter. EntryPoint Capital LLC now owns 861 shares of the industrial products company’s stock worth $77,000 after buying an additional 382 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Kaiser Aluminum by 5.3% in the second quarter. The Manufacturers Life Insurance Company now owns 7,893 shares of the industrial products company’s stock valued at $694,000 after buying an additional 394 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Kaiser Aluminum by 3.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,430 shares of the industrial products company’s stock valued at $1,093,000 after buying an additional 397 shares during the last quarter. 99.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Kaiser Aluminum Stock Performance

Shares of KALU stock opened at $68.34 on Monday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.42 and a current ratio of 2.55. Kaiser Aluminum Co. has a 52 week low of $53.67 and a 52 week high of $102.42. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 27.45 and a beta of 1.33. The firm’s 50-day simple moving average is $71.15 and its two-hundred day simple moving average is $82.79.

Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.16). The firm had revenue of $748.00 million during the quarter, compared to analysts’ expectations of $793.30 million. Kaiser Aluminum had a return on equity of 6.84% and a net margin of 1.37%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share. As a group, equities analysts forecast that Kaiser Aluminum Co. will post 2.99 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be paid a $0.77 dividend. The ex-dividend date is Friday, October 25th. This represents a $3.08 dividend on an annualized basis and a yield of 4.51%. Kaiser Aluminum’s dividend payout ratio is currently 123.69%.

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.