Pinebridge Investments L.P. grew its stake in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) by 77.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 26,851 shares of the industrial products company’s stock after acquiring an additional 11,703 shares during the period. Pinebridge Investments L.P.’s holdings in Kaiser Aluminum were worth $2,869,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of KALU. FMR LLC boosted its stake in shares of Kaiser Aluminum by 136.8% during the second quarter. FMR LLC now owns 205,561 shares of the industrial products company’s stock valued at $18,196,000 after purchasing an additional 118,741 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Kaiser Aluminum by 22.4% during the fourth quarter. Victory Capital Management Inc. now owns 548,604 shares of the industrial products company’s stock valued at $58,618,000 after purchasing an additional 100,461 shares during the period. American Century Companies Inc. purchased a new stake in shares of Kaiser Aluminum during the fourth quarter valued at $7,802,000. State Street Corp boosted its stake in shares of Kaiser Aluminum by 7.9% during the second quarter. State Street Corp now owns 686,950 shares of the industrial products company’s stock valued at $60,811,000 after purchasing an additional 50,201 shares during the period. Finally, Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Kaiser Aluminum during the third quarter valued at $4,777,000. 99.57% of the stock is owned by hedge funds and other institutional investors.
Shares of Kaiser Aluminum Corp. (NASDAQ KALU) opened at $108.75 on Monday. The company has a market cap of $1,838.29, a PE ratio of 21.08, a price-to-earnings-growth ratio of 1.13 and a beta of 0.56. Kaiser Aluminum Corp. has a 1 year low of $74.56 and a 1 year high of $116.86. The company has a current ratio of 3.75, a quick ratio of 2.55 and a debt-to-equity ratio of 0.47.
KALU has been the subject of a number of research reports. Zacks Investment Research lowered shares of Kaiser Aluminum from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. BidaskClub raised shares of Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 29th. Finally, Morgan Stanley upped their price objective on shares of Kaiser Aluminum from $87.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $101.29.
ILLEGAL ACTIVITY WARNING: “Kaiser Aluminum Corp. (KALU) Stake Increased by Pinebridge Investments L.P.” was originally published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this report on another domain, it was illegally stolen and republished in violation of international copyright legislation. The correct version of this report can be read at https://www.chaffeybreeze.com/2018/02/19/kaiser-aluminum-corp-kalu-stake-increased-by-pinebridge-investments-l-p.html.
About Kaiser Aluminum
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The Company operates in the Fabricated Products segment. The Company’s Fabricated Products segment focuses on producing rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive and general engineering products that include consumer durables, electronics, electrical and machinery and equipment applications.
Want to see what other hedge funds are holding KALU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kaiser Aluminum Corp. (NASDAQ:KALU).
Receive News & Ratings for Kaiser Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kaiser Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.