Kaiser Aluminum Corp. (KALU) Short Interest Down 19.2% in October
Kaiser Aluminum Corp. (NASDAQ:KALU) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 631,973 shares, a decrease of 19.2% from the October 14th total of 781,735 shares. Currently, 3.6% of the shares of the company are sold short. Based on an average daily trading volume, of 264,383 shares, the short-interest ratio is currently 2.4 days.
Kaiser Aluminum Corp. (NASDAQ:KALU) opened at 82.03 on Friday. The firm has a market capitalization of $1.46 billion, a P/E ratio of 18.29 and a beta of 0.56. The stock’s 50 day moving average price is $78.38 and its 200 day moving average price is $84.49. Kaiser Aluminum Corp. has a 52 week low of $69.41 and a 52 week high of $96.06.
Kaiser Aluminum Corp. (NASDAQ:KALU) last issued its earnings results on Wednesday, October 19th. The company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.27 by $0.25. Kaiser Aluminum Corp. had a return on equity of 9.46% and a net margin of 6.12%. The business had revenue of $321 million for the quarter, compared to analyst estimates of $333.46 million. During the same period last year, the business posted $1.07 EPS. Kaiser Aluminum Corp.’s revenue was down 4.5% on a year-over-year basis. On average, equities analysts expect that Kaiser Aluminum Corp. will post $4.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, October 25th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, October 21st. Kaiser Aluminum Corp.’s dividend payout ratio (DPR) is presently 40.72%.
KALU has been the topic of a number of recent research reports. TheStreet lowered Kaiser Aluminum Corp. from a “buy” rating to a “hold” rating in a research report on Friday, October 21st. Zacks Investment Research upgraded Kaiser Aluminum Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 9th. Seaport Global Securities initiated coverage on Kaiser Aluminum Corp. in a research report on Friday, September 9th. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, Macquarie initiated coverage on Kaiser Aluminum Corp. in a research report on Tuesday, September 6th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $93.33.
Several large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of Kaiser Aluminum Corp. during the second quarter valued at $190,000. PineBridge Investments L.P. raised its stake in shares of Kaiser Aluminum Corp. by 3.7% in the second quarter. PineBridge Investments L.P. now owns 2,280 shares of the company’s stock valued at $206,000 after buying an additional 81 shares during the period. Two Sigma Securities LLC acquired a new stake in shares of Kaiser Aluminum Corp. during the third quarter valued at $214,000. Teacher Retirement System of Texas raised its stake in shares of Kaiser Aluminum Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 2,480 shares of the company’s stock valued at $224,000 after buying an additional 300 shares during the period. Finally, Quantbot Technologies LP raised its stake in shares of Kaiser Aluminum Corp. by 288.3% in the third quarter. Quantbot Technologies LP now owns 2,644 shares of the company’s stock valued at $228,000 after buying an additional 1,963 shares during the period. 98.38% of the stock is currently owned by institutional investors and hedge funds.
Kaiser Aluminum Corp. Company Profile
Kaiser Aluminum Corporation is engaged in the production of semi-fabricated specialty aluminum products. The Company manufactures aluminum plate and sheet, and extruded and drawn products, primarily used in aerospace/high strength, automotive, general engineering and other industrial end market applications.
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