Mercer Global Advisors Inc. ADV Takes Position in Kaiser Aluminum Co. (NASDAQ:KALU)

Mercer Global Advisors Inc. ADV acquired a new stake in shares of Kaiser Aluminum Co. (NASDAQ:KALU) during the second quarter, according to its most recent filing with the SEC. The fund acquired 2,355 shares of the industrial products company’s stock, valued at approximately $207,000.

Other institutional investors have also added to or reduced their stakes in the company. Harvest Investment Advisors LLC increased its position in shares of Kaiser Aluminum by 1.6% during the fourth quarter. Harvest Investment Advisors LLC now owns 17,489 shares of the industrial products company’s stock valued at $1,245,000 after buying an additional 280 shares during the period. Rhumbline Advisers boosted its stake in Kaiser Aluminum by 0.6% during the second quarter. Rhumbline Advisers now owns 51,374 shares of the industrial products company’s stock valued at $4,516,000 after buying an additional 314 shares during the period. National Bank of Canada FI purchased a new position in Kaiser Aluminum in the 2nd quarter worth $32,000. EntryPoint Capital LLC boosted its holdings in Kaiser Aluminum by 79.7% during the 1st quarter. EntryPoint Capital LLC now owns 861 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 382 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Kaiser Aluminum by 3.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,430 shares of the industrial products company’s stock valued at $1,093,000 after acquiring an additional 397 shares during the period. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Insider Buying and Selling at Kaiser Aluminum

In other news, CEO Keith Harvey bought 2,588 shares of Kaiser Aluminum stock in a transaction that occurred on Monday, July 29th. The stock was bought at an average cost of $77.23 per share, with a total value of $199,871.24. Following the acquisition, the chief executive officer now owns 103,550 shares of the company’s stock, valued at approximately $7,997,166.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by corporate insiders.

Kaiser Aluminum Price Performance

KALU stock opened at $73.04 on Wednesday. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 21.23 and a beta of 1.33. The company has a current ratio of 2.55, a quick ratio of 1.42 and a debt-to-equity ratio of 1.57. The firm’s 50-day moving average price is $71.74 and its two-hundred day moving average price is $84.84. Kaiser Aluminum Co. has a 12-month low of $53.67 and a 12-month high of $102.42.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.29). Kaiser Aluminum had a return on equity of 6.84% and a net margin of 1.37%. The business had revenue of $773.40 million for the quarter, compared to the consensus estimate of $773.89 million. During the same period in the previous year, the firm earned $1.26 EPS. The company’s revenue was down 5.0% on a year-over-year basis. As a group, equities analysts predict that Kaiser Aluminum Co. will post 3.04 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 25th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $3.08 annualized dividend and a yield of 4.22%. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 89.53%.

Analyst Upgrades and Downgrades

Separately, Benchmark lifted their price target on Kaiser Aluminum from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 12th.

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.