Kaiser Aluminum Co. (NASDAQ:KALU) Sees Large Growth in Short Interest

Kaiser Aluminum Co. (NASDAQ:KALU) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 574,500 shares, an increase of 27.4% from the February 28th total of 450,800 shares. Approximately 3.7% of the company’s stock are sold short. Based on an average daily trading volume, of 106,900 shares, the days-to-cover ratio is currently 5.4 days.

Kaiser Aluminum Stock Performance

Shares of KALU opened at $60.62 on Tuesday. Kaiser Aluminum has a 1 year low of $58.84 and a 1 year high of $102.42. The stock has a market capitalization of $975.98 million, a PE ratio of 21.12 and a beta of 1.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.36 and a current ratio of 2.44. The stock has a 50-day simple moving average of $69.67 and a 200-day simple moving average of $72.97.

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

Kaiser Aluminum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.08%. Kaiser Aluminum’s payout ratio is currently 107.32%.

Institutional Trading of Kaiser Aluminum

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd purchased a new position in shares of Kaiser Aluminum in the 3rd quarter valued at about $41,000. AlphaQuest LLC increased its stake in Kaiser Aluminum by 497.2% in the fourth quarter. AlphaQuest LLC now owns 651 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 542 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in Kaiser Aluminum during the fourth quarter worth approximately $52,000. KBC Group NV lifted its position in shares of Kaiser Aluminum by 93.0% during the 4th quarter. KBC Group NV now owns 851 shares of the industrial products company’s stock worth $60,000 after buying an additional 410 shares during the last quarter. Finally, Aquatic Capital Management LLC boosted its holdings in shares of Kaiser Aluminum by 87.1% in the 4th quarter. Aquatic Capital Management LLC now owns 1,684 shares of the industrial products company’s stock valued at $118,000 after buying an additional 784 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.

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.