Corebridge Financial Inc. Sells 664 Shares of Kaiser Aluminum Co. (NASDAQ:KALU)

Corebridge Financial Inc. lowered its position in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,506 shares of the industrial products company’s stock after selling 664 shares during the period. Corebridge Financial Inc.’s holdings in Kaiser Aluminum were worth $598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in Kaiser Aluminum during the 4th quarter valued at $3,878,000. American Century Companies Inc. boosted its position in shares of Kaiser Aluminum by 12.6% during the fourth quarter. American Century Companies Inc. now owns 447,723 shares of the industrial products company’s stock valued at $31,461,000 after buying an additional 49,948 shares during the last quarter. Stephens Inc. AR bought a new stake in Kaiser Aluminum in the 4th quarter worth about $3,150,000. Intech Investment Management LLC raised its position in Kaiser Aluminum by 124.3% in the 4th quarter. Intech Investment Management LLC now owns 65,020 shares of the industrial products company’s stock worth $4,569,000 after buying an additional 36,029 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Kaiser Aluminum during the 4th quarter valued at about $2,245,000. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Kaiser Aluminum Stock Performance

KALU stock opened at $50.93 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.44 and a quick ratio of 1.36. Kaiser Aluminum Co. has a 1 year low of $46.81 and a 1 year high of $102.42. The company has a market cap of $819.97 million, a P/E ratio of 17.75 and a beta of 1.32. The stock’s fifty day moving average price is $67.97 and its 200-day moving average price is $72.44.

Kaiser Aluminum (NASDAQ:KALU) last announced its earnings results on Wednesday, February 19th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). The firm had revenue of $765.40 million during the quarter, compared to analysts’ expectations of $752.00 million. Kaiser Aluminum had a return on equity of 6.25% and a net margin of 1.55%. During the same period in the previous year, the business posted $0.60 earnings per share. On average, equities analysts forecast that Kaiser Aluminum Co. will post 5.14 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were given a dividend of $0.77 per share. The ex-dividend date was Friday, January 24th. This represents a $3.08 annualized dividend and a yield of 6.05%. Kaiser Aluminum’s dividend payout ratio (DPR) is 107.32%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Kaiser Aluminum from a “sell” rating to a “hold” rating in a research note on Sunday, March 23rd.

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.