Kaiser Aluminum Corporation (KALU) VP Sells $99,480.00 in Stock
Kaiser Aluminum Corporation (NASDAQ:KALU) VP Melinda C. Ellsworth sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $99.48, for a total transaction of $99,480.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Kaiser Aluminum Corporation (NASDAQ:KALU) last released its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.19). Kaiser Aluminum Corporation had a net margin of 6.18% and a return on equity of 11.45%. The company had revenue of $332.80 million during the quarter, compared to analyst estimates of $335.37 million. During the same period in the prior year, the business posted $1.02 EPS. Kaiser Aluminum Corporation’s revenue was up 3.8% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, October 25th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $2.00 dividend on an annualized basis and a yield of 2.02%. Kaiser Aluminum Corporation’s dividend payout ratio is currently 41.32%.
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KALU has been the subject of several recent research reports. Zacks Investment Research lowered shares of Kaiser Aluminum Corporation from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. BidaskClub upgraded shares of Kaiser Aluminum Corporation from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Cowen and Company lowered shares of Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $96.00 to $97.00 in a research report on Monday, August 7th. They noted that the move was a valuation call. Deutsche Bank AG set a $100.00 price target on shares of Kaiser Aluminum Corporation and gave the stock a “buy” rating in a research report on Monday, July 31st. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $87.00 price target (up from $80.00) on shares of Kaiser Aluminum Corporation in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Kaiser Aluminum Corporation currently has an average rating of “Hold” and an average target price of $97.25.
A number of institutional investors have recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC acquired a new stake in Kaiser Aluminum Corporation in the 3rd quarter valued at $1,574,000. Old Mutual Global Investors UK Ltd. purchased a new position in Kaiser Aluminum Corporation in the 3rd quarter valued at $4,777,000. Public Employees Retirement Association of Colorado lifted its holdings in Kaiser Aluminum Corporation by 6.1% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 157,747 shares of the industrial products company’s stock valued at $16,270,000 after purchasing an additional 9,100 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Kaiser Aluminum Corporation in the 3rd quarter valued at $374,000. Finally, Meeder Asset Management Inc. purchased a new position in Kaiser Aluminum Corporation in the 3rd quarter valued at $228,000. 98.04% of the stock is currently owned by hedge funds and other institutional investors.
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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