RBC Bolsters Stake in Kaiser Aluminum Amid Strong Financial Performance

Royal Bank of Canada's (RBC) investment in Kaiser Aluminum Corporation (KALU) has grown significantly, according to its latest Form 13F filing with the SEC. The bank lifted its stake in KALU by 98.5% in the first quarter and now owns 23,714 shares of the industrial products company's stock, valued at $2,856,000. This represents about 0.15% of Kaiser Aluminum's total outstanding shares.

The bank purchased an additional 11,769 shares during the period, bringing its total holdings to 23,714 shares. Other hedge funds have also increased their positions in KALU, including Farther Finance Advisors LLC, which lifted its stake by 389.3% in the fourth quarter, and Global Retirement Partners LLC, which boosted its position by 408.3% during the same period.

Kaiser Aluminum has been performing well financially, reporting earnings per share of $5.53 for the second quarter, beating analyst estimates of $2.66. The company's revenue also increased by 52.7% compared to the same period last year, reaching $1.26 billion.