Tributary Capital Management LLC Has $23.91 Million Holdings in Kaiser Aluminum Co. (NASDAQ:KALU)

Tributary Capital Management LLC grew its stake in Kaiser Aluminum Co. (NASDAQ:KALU) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 271,976 shares of the industrial products company’s stock after purchasing an additional 856 shares during the period. Kaiser Aluminum comprises about 2.0% of Tributary Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. Tributary Capital Management LLC owned about 1.69% of Kaiser Aluminum worth $23,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in KALU. Norges Bank acquired a new stake in Kaiser Aluminum during the fourth quarter worth about $7,415,000. Victory Capital Management Inc. raised its stake in shares of Kaiser Aluminum by 5.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,318,145 shares of the industrial products company’s stock valued at $93,839,000 after purchasing an additional 68,987 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Kaiser Aluminum by 397.2% in the first quarter. Assenagon Asset Management S.A. now owns 79,358 shares of the industrial products company’s stock valued at $7,091,000 after purchasing an additional 63,396 shares in the last quarter. First Eagle Investment Management LLC lifted its position in Kaiser Aluminum by 34.8% in the fourth quarter. First Eagle Investment Management LLC now owns 152,710 shares of the industrial products company’s stock worth $10,871,000 after purchasing an additional 39,398 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Kaiser Aluminum by 10.3% during the first quarter. Russell Investments Group Ltd. now owns 226,171 shares of the industrial products company’s stock worth $20,211,000 after buying an additional 21,192 shares in the last quarter. Institutional investors own 99.29% of the company’s stock.

Insiders Place Their Bets

In other Kaiser Aluminum news, CEO Keith Harvey bought 2,588 shares of the stock in a transaction dated Monday, July 29th. The stock was bought at an average cost of $77.23 per share, for a total transaction of $199,871.24. Following the completion of the purchase, the chief executive officer now owns 103,550 shares in the company, valued at approximately $7,997,166.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

Kaiser Aluminum Price Performance

Shares of NASDAQ KALU traded up $3.48 during midday trading on Friday, reaching $74.30. 87,406 shares of the company traded hands, compared to its average volume of 145,722. Kaiser Aluminum Co. has a 12 month low of $53.67 and a 12 month high of $102.42. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.42 and a current ratio of 2.55. The stock’s 50-day simple moving average is $82.47 and its 200-day simple moving average is $84.45. The firm has a market cap of $1.19 billion, a PE ratio of 21.60 and a beta of 1.35.

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

Kaiser Aluminum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th were given a $0.77 dividend. The ex-dividend date was Thursday, July 25th. This represents a $3.08 annualized dividend and a yield of 4.15%. Kaiser Aluminum’s payout ratio is 89.53%.

Analyst Ratings Changes

Separately, Benchmark raised their price objective on shares of Kaiser Aluminum from $84.00 to $100.00 and gave the stock 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.