Public Employees Retirement Association of Colorado raised its position in Kaiser Aluminum Corp. (NASDAQ:KALU) by 12.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 174,087 shares of the industrial products company’s stock after buying an additional 19,040 shares during the period. Public Employees Retirement Association of Colorado owned about 1.09% of Kaiser Aluminum worth $16,993,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Amalgamated Bank acquired a new stake in Kaiser Aluminum in the 4th quarter worth about $218,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Kaiser Aluminum during the 1st quarter valued at approximately $249,000. ARK Investment Management LLC purchased a new stake in shares of Kaiser Aluminum during the 2nd quarter valued at approximately $352,000. BNP Paribas Arbitrage SA raised its position in shares of Kaiser Aluminum by 881.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,729 shares of the industrial products company’s stock valued at $391,000 after buying an additional 3,349 shares during the period. Finally, Piedmont Investment Advisors Inc. raised its position in shares of Kaiser Aluminum by 3.5% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 4,058 shares of the industrial products company’s stock valued at $425,000 after buying an additional 137 shares during the period. Institutional investors own 98.02% of the company’s stock.
Shares of NASDAQ:KALU traded down $2.07 during trading on Wednesday, hitting $93.19. The company’s stock had a trading volume of 2,328 shares, compared to its average volume of 123,128. The firm’s 50 day simple moving average is $95.02. The stock has a market cap of $1.50 billion, a P/E ratio of 14.40 and a beta of 1.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.63 and a quick ratio of 2.34. Kaiser Aluminum Corp. has a fifty-two week low of $83.29 and a fifty-two week high of $114.99.
Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.07. The business had revenue of $375.00 million during the quarter, compared to the consensus estimate of $388.25 million. Kaiser Aluminum had a net margin of 5.96% and a return on equity of 14.23%. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.68 earnings per share. On average, equities analysts predict that Kaiser Aluminum Corp. will post 7.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 25th will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, July 24th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.58%. Kaiser Aluminum’s payout ratio is currently 37.09%.
Several analysts have recently commented on KALU shares. Goldman Sachs Group raised shares of Kaiser Aluminum from a “sell” rating to a “neutral” rating and set a $97.00 price target on the stock in a research report on Thursday, August 8th. BidaskClub upgraded shares of Kaiser Aluminum from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. ValuEngine downgraded shares of Kaiser Aluminum from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. Finally, Zacks Investment Research upgraded shares of Kaiser Aluminum from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Kaiser Aluminum currently has an average rating of “Hold” and an average price target of $109.33.
In related news, COO Keith Harvey sold 500 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $90.00, for a total transaction of $45,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jack A. Hockema sold 12,500 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $95.96, for a total transaction of $1,199,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,450 shares of company stock valued at $2,180,591. Insiders own 1.70% of the company’s stock.
Kaiser Aluminum Profile
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.
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