Nisa Investment Advisors LLC reduced its holdings in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) by 19.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,350 shares of the industrial products company’s stock after selling 2,000 shares during the quarter. Nisa Investment Advisors LLC owned 0.05% of Kaiser Aluminum worth $815,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Campbell & CO Investment Adviser LLC bought a new position in shares of Kaiser Aluminum in the second quarter valued at approximately $1,471,000. WINTON GROUP Ltd lifted its holdings in shares of Kaiser Aluminum by 567.2% in the second quarter. WINTON GROUP Ltd now owns 66,138 shares of the industrial products company’s stock valued at $6,456,000 after purchasing an additional 56,225 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Kaiser Aluminum by 6.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 317,334 shares of the industrial products company’s stock valued at $33,234,000 after purchasing an additional 18,738 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Kaiser Aluminum by 5.2% in the first quarter. First Trust Advisors LP now owns 4,288 shares of the industrial products company’s stock valued at $449,000 after purchasing an additional 211 shares in the last quarter. Finally, Granite Investment Partners LLC lifted its holdings in shares of Kaiser Aluminum by 16.8% in the first quarter. Granite Investment Partners LLC now owns 158,456 shares of the industrial products company’s stock valued at $16,595,000 after purchasing an additional 22,743 shares in the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.
Shares of KALU traded down $0.94 on Tuesday, reaching $95.37. 3,155 shares of the company’s stock traded hands, compared to its average volume of 95,760. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.14 and a current ratio of 3.29. The firm has a market capitalization of $1.55 billion, a PE ratio of 14.71 and a beta of 1.03. The business has a 50 day moving average price of $94.59. Kaiser Aluminum Corp. has a 52-week low of $83.29 and a 52-week high of $119.66.
Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.02. The company had revenue of $395.00 million during the quarter, compared to the consensus estimate of $404.04 million. Kaiser Aluminum had a return on equity of 14.91% and a net margin of 5.90%. Kaiser Aluminum’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the business posted $1.60 earnings per share. As a group, analysts forecast that Kaiser Aluminum Corp. will post 7.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 25th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Wednesday, July 24th. Kaiser Aluminum’s payout ratio is 37.09%.
In related news, EVP John Malcolm Donnan sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Keith Harvey sold 1,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $97.88, for a total value of $97,880.00. The disclosure for this sale can be found here. Insiders have sold 11,050 shares of company stock valued at $1,083,105 over the last ninety days. 1.70% of the stock is currently owned by company insiders.
KALU has been the topic of a number of recent research reports. Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. ValuEngine upgraded XCel Brands from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, BidaskClub lowered Ames National from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Kaiser Aluminum currently has an average rating of “Hold” and a consensus price target of $108.60.
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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