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

Kaiser Aluminum Co. (NASDAQ:KALU) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 474,700 shares, an increase of 5.7% from the October 15th total of 449,100 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily volume of 141,700 shares, the days-to-cover ratio is currently 3.4 days.

Institutional Investors Weigh In On Kaiser Aluminum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its stake in shares of Kaiser Aluminum by 358.0% in the 2nd quarter. American Century Companies Inc. now owns 250,809 shares of the industrial products company’s stock valued at $22,046,000 after acquiring an additional 196,045 shares during the period. Bank of Montreal Can boosted its position in shares of Kaiser Aluminum by 368.0% during the 2nd quarter. Bank of Montreal Can now owns 65,877 shares of the industrial products company’s stock worth $5,917,000 after acquiring an additional 51,802 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its stake in Kaiser Aluminum by 532,185.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 37,260 shares of the industrial products company’s stock valued at $3,275,000 after purchasing an additional 37,253 shares during the last quarter. ClariVest Asset Management LLC acquired a new stake in shares of Kaiser Aluminum during the second quarter worth about $2,999,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Kaiser Aluminum by 3,349.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 31,254 shares of the industrial products company’s stock valued at $2,747,000 after purchasing an additional 30,348 shares during the period. Institutional investors and hedge funds own 99.29% of the company’s stock.

Kaiser Aluminum Price Performance

Shares of NASDAQ KALU traded down $0.53 during mid-day trading on Monday, reaching $80.10. The company’s stock had a trading volume of 76,337 shares, compared to its average volume of 146,236. The stock has a 50-day moving average of $73.53 and a two-hundred day moving average of $81.69. 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 stock has a market capitalization of $1.29 billion, a P/E ratio of 27.90 and a beta of 1.32. Kaiser Aluminum has a 1-year low of $57.52 and a 1-year high of $102.42.

Kaiser Aluminum (NASDAQ:KALU) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.16). The business had revenue of $748.00 million during the quarter, compared to analysts’ expectations of $793.30 million. Kaiser Aluminum had a return on equity of 6.92% and a net margin of 1.59%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the business earned $0.46 earnings per share. On average, equities research analysts anticipate that Kaiser Aluminum will post 2.63 EPS for the current fiscal year.

Kaiser Aluminum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 25th were issued a $0.77 dividend. The ex-dividend date was Friday, October 25th. This represents a $3.08 annualized dividend and a yield of 3.85%. Kaiser Aluminum’s payout ratio is 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.