Seaport Global Securities Weighs in on Kaiser Aluminum Corporation’s Q1 2018 Earnings (KALU)
Kaiser Aluminum Corporation (NASDAQ:KALU) – Analysts at Seaport Global Securities upped their Q1 2018 earnings estimates for shares of Kaiser Aluminum Corporation in a note issued to investors on Thursday. Seaport Global Securities analyst J. Sullivan now expects that the industrial products company will earn $1.41 per share for the quarter, up from their previous estimate of $1.38. Seaport Global Securities also issued estimates for Kaiser Aluminum Corporation’s Q3 2018 earnings at $1.42 EPS and FY2018 earnings at $5.82 EPS.
Kaiser Aluminum Corporation (NASDAQ:KALU) last posted its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.46. Kaiser Aluminum Corporation had a net margin of 5.87% and a return on equity of 11.71%. The business had revenue of $356.00 million during the quarter, compared to the consensus estimate of $349.62 million. During the same quarter last year, the firm posted $1.02 EPS. Kaiser Aluminum Corporation’s revenue was up 6.3% compared to the same quarter last year.
A number of other research firms also recently issued reports on KALU. BidaskClub upgraded Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Zacks Investment Research raised Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Friday, July 28th. Cowen and Company cut Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $96.00 to $97.00 in a research note on Monday, August 7th. They noted that the move was a valuation call. Deutsche Bank AG set a $100.00 target price on Kaiser Aluminum Corporation and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $87.00 target price (up from $80.00) on shares of Kaiser Aluminum Corporation in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $95.57.
Kaiser Aluminum Corporation (KALU) traded up 0.02% during mid-day trading on Friday, reaching $105.07. 5,148 shares of the company traded hands. Kaiser Aluminum Corporation has a 12-month low of $69.41 and a 12-month high of $106.43. The company’s 50-day moving average is $99.09 and its 200-day moving average is $89.37. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 23.08 and a beta of 0.54.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Mercantile Trust Co. grew its stake in shares of Kaiser Aluminum Corporation by 1.4% in the second quarter. First Mercantile Trust Co. now owns 1,430 shares of the industrial products company’s stock worth $127,000 after acquiring an additional 20 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Kaiser Aluminum Corporation during the first quarter valued at $119,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Kaiser Aluminum Corporation during the first quarter valued at $122,000. Flinton Capital Management LLC boosted its position in shares of Kaiser Aluminum Corporation by 54.3% during the second quarter. Flinton Capital Management LLC now owns 1,836 shares of the industrial products company’s stock valued at $162,000 after buying an additional 646 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its position in shares of Kaiser Aluminum Corporation by 58.3% during the second quarter. Riverhead Capital Management LLC now owns 1,899 shares of the industrial products company’s stock valued at $168,000 after buying an additional 699 shares during the last quarter. 98.04% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Jack A. Hockema sold 5,982 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $102.66, for a total value of $614,112.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carolyn Bartholomew sold 1,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $99.00, for a total value of $99,000.00. Following the completion of the sale, the director now directly owns 13,344 shares in the company, valued at $1,321,056. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,696 shares of company stock worth $3,574,969. Insiders own 3.00% of the company’s stock.
About Kaiser Aluminum Corporation
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.
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