Virginia Retirement Systems ET AL lessened its holdings in Kaiser Aluminum Corporation (NASDAQ:KALU) by 21.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,700 shares of the industrial products company’s stock after selling 1,800 shares during the period. Virginia Retirement Systems ET AL’s holdings in Kaiser Aluminum were worth $691,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. NEXT Financial Group Inc purchased a new stake in Kaiser Aluminum during the third quarter valued at about $124,000. First Mercantile Trust Co. raised its position in Kaiser Aluminum by 1.4% during the second quarter. First Mercantile Trust Co. now owns 1,430 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 20 shares in the last quarter. Flinton Capital Management LLC raised its position in Kaiser Aluminum 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 purchasing an additional 646 shares in the last quarter. Riverhead Capital Management LLC raised its position in Kaiser Aluminum 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 purchasing an additional 699 shares in the last quarter. Finally, KBC Group NV purchased a new stake in Kaiser Aluminum during the second quarter valued at about $188,000. Institutional investors own 98.03% of the company’s stock.
Kaiser Aluminum Corporation (KALU) opened at $100.16 on Monday. Kaiser Aluminum Corporation has a 12 month low of $74.56 and a 12 month high of $108.99. The stock has a market capitalization of $1,693.08, a PE ratio of 19.41, a PEG ratio of 1.32 and a beta of 0.54. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.55 and a current ratio of 3.75.
Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.19). Kaiser Aluminum had a net margin of 6.18% and a return on equity of 11.45%. The company had revenue of $332.80 million for the quarter, compared to the consensus estimate of $335.37 million. During the same period last year, the business posted $1.02 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. sell-side analysts anticipate that Kaiser Aluminum Corporation will post 5.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, October 25th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, October 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.00%. Kaiser Aluminum’s dividend payout ratio (DPR) is currently 41.32%.
A number of equities research analysts have weighed in on KALU shares. Zacks Investment Research upgraded Kaiser Aluminum from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Friday, October 6th. Credit Suisse Group raised their price target on Kaiser Aluminum from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, October 20th. Cowen set a $97.00 price target on Kaiser Aluminum and gave the company a “hold” rating in a research report on Thursday, October 12th. Deutsche Bank downgraded Kaiser Aluminum from a “buy” rating to a “hold” rating and set a $104.00 price target on the stock. in a research report on Tuesday, October 17th. Finally, BidaskClub raised Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $99.00.
In related news, CEO Jack A. Hockema sold 5,982 shares of the firm’s stock in a transaction dated 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 can be accessed through this hyperlink. Also, VP Melinda C. Ellsworth sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $99.48, for a total value of $99,480.00. The disclosure for this sale can be found here. Insiders have sold 15,982 shares of company stock worth $1,637,622 over the last ninety days. Insiders own 3.00% of the company’s stock.
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Kaiser Aluminum Profile
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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