Millburn Ridgefield Corp Buys New Position in Kaiser Aluminum Co. (NASDAQ:KALU)

Millburn Ridgefield Corp purchased a new position in shares of Kaiser Aluminum Co. (NASDAQ:KALU) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,334 shares of the industrial products company’s stock, valued at approximately $169,000.

Other hedge funds also recently made changes to their positions in the company. National Bank of Canada FI acquired a new position in shares of Kaiser Aluminum during the 2nd quarter worth approximately $32,000. Meeder Asset Management Inc. bought a new stake in shares of Kaiser Aluminum during the second quarter worth approximately $63,000. nVerses Capital LLC bought a new position in shares of Kaiser Aluminum during the third quarter worth approximately $65,000. CWM LLC lifted its holdings in Kaiser Aluminum by 125.3% during the 3rd quarter. CWM LLC now owns 1,282 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 713 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Kaiser Aluminum in the 2nd quarter valued at $207,000. 99.29% of the stock is owned by institutional investors.

Kaiser Aluminum Trading Down 0.3 %

Shares of Kaiser Aluminum stock opened at $82.96 on Wednesday. Kaiser Aluminum Co. has a 52-week low of $58.20 and a 52-week high of $102.42. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.36 and a current ratio of 2.60. The firm has a 50-day moving average of $76.25 and a 200-day moving average of $80.41. The stock has a market cap of $1.33 billion, a PE ratio of 28.71 and a beta of 1.33.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.16). The company had revenue of $748.00 million during 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 firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm earned $0.46 EPS. As a group, sell-side analysts forecast that Kaiser Aluminum Co. will post 2.63 EPS for the current year.

Kaiser Aluminum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were given a dividend of $0.77 per share. The ex-dividend date was Friday, October 25th. This represents a $3.08 annualized dividend and a dividend yield of 3.71%. Kaiser Aluminum’s dividend payout ratio is currently 106.57%.

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.