Kaiser Aluminum Corporation (NASDAQ:KALU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.

According to Zacks, “KAISER ALUMINUM is a leading producer of fabricated aluminum products for aerospace and high strength, general engineering, automotive, and custom industrial applications. Repeatedly acknowledged as Best in Class among its global customer base,Their 11 fabrication plants typically produce and ship more than 500 million pounds of product annually. “

A number of other research firms also recently commented on KALU. BidaskClub downgraded shares of Kaiser Aluminum Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Cowen and Company downgraded shares of Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and increased their price objective 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 price objective on shares of Kaiser Aluminum Corporation and gave the stock a “buy” rating in a research note on Monday, July 31st. Morgan Stanley restated an “equal weight” rating and set a $87.00 price objective (up from $80.00) on shares of Kaiser Aluminum Corporation in a research note on Tuesday, July 25th. Finally, Credit Suisse Group increased their price objective on shares of Kaiser Aluminum Corporation from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $97.25.

Shares of Kaiser Aluminum Corporation (NASDAQ KALU) traded down 0.44% during midday trading on Monday, reaching $99.41. The company’s stock had a trading volume of 107,766 shares. The stock has a 50-day moving average price of $101.74 and a 200 day moving average price of $91.68. Kaiser Aluminum Corporation has a 52 week low of $69.41 and a 52 week high of $108.99. The stock has a market capitalization of $1.67 billion, a PE ratio of 21.83 and a beta of 0.54.

Kaiser Aluminum Corporation (NASDAQ:KALU) last posted its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.19). Kaiser Aluminum Corporation had a return on equity of 11.45% and a net margin of 6.18%. The business had revenue of $332.80 million for the quarter, compared to analyst estimates of $335.37 million. During the same quarter in the prior year, the company earned $1.02 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that Kaiser Aluminum Corporation will post $5.25 earnings per share for the current year.

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In related news, VP Del L. Miller sold 817 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $97.07, for a total value of $79,306.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark Krouse sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $96.50, for a total transaction of $144,750.00. The disclosure for this sale can be found here. Insiders sold a total of 25,414 shares of company stock valued at $2,538,238 over the last quarter. 3.00% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Prudential Financial Inc. raised its holdings in Kaiser Aluminum Corporation by 13.0% in the 1st quarter. Prudential Financial Inc. now owns 35,319 shares of the industrial products company’s stock valued at $2,822,000 after acquiring an additional 4,060 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Kaiser Aluminum Corporation by 8.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 121,074 shares of the industrial products company’s stock valued at $9,674,000 after acquiring an additional 9,731 shares during the period. Summit Global Investments raised its holdings in Kaiser Aluminum Corporation by 29.5% in the 2nd quarter. Summit Global Investments now owns 5,700 shares of the industrial products company’s stock valued at $505,000 after acquiring an additional 1,300 shares during the period. BlackRock Inc. raised its holdings in Kaiser Aluminum Corporation by 12,449.4% in the 1st quarter. BlackRock Inc. now owns 2,174,693 shares of the industrial products company’s stock valued at $173,757,000 after acquiring an additional 2,157,364 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new position in Kaiser Aluminum Corporation in the 1st quarter valued at about $122,000. Institutional investors and hedge funds own 98.04% 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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