John Malcolm Donnan Sells 5,115 Shares of Kaiser Aluminum Corporation (NASDAQ:KALU) Stock
Kaiser Aluminum Corporation (NASDAQ:KALU) EVP John Malcolm Donnan sold 5,115 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $95.39, for a total value of $487,919.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Kaiser Aluminum Corporation (NASDAQ KALU) opened at 95.48 on Tuesday. Kaiser Aluminum Corporation has a 12 month low of $69.41 and a 12 month high of $98.72. The stock’s 50 day moving average price is $93.32 and its 200 day moving average price is $84.28. The company has a market capitalization of $1.61 billion, a PE ratio of 20.97 and a beta of 0.54.
Kaiser Aluminum Corporation (NASDAQ:KALU) last posted its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.46. Kaiser Aluminum Corporation had a return on equity of 11.71% and a net margin of 5.87%. The firm had revenue of $356 million for the quarter, compared to analysts’ expectations of $349.62 million. During the same period in the previous year, the firm earned $1.02 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts forecast that Kaiser Aluminum Corporation will post $5.47 EPS for the current year.
Kaiser Aluminum Corporation declared that its board has authorized a share buyback plan on Monday, April 17th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Thursday, July 27th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, July 25th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.09%. Kaiser Aluminum Corporation’s payout ratio is currently 44.44%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC bought a new position in Kaiser Aluminum Corporation during the first quarter worth $112,000. SG Americas Securities LLC bought a new position in Kaiser Aluminum Corporation during the first quarter worth $119,000. Ameritas Investment Partners Inc. bought a new position in Kaiser Aluminum Corporation during the first quarter worth $122,000. First Mercantile Trust Co. boosted its position in Kaiser Aluminum Corporation by 1.4% in the second quarter. First Mercantile Trust Co. now owns 1,430 shares of the industrial products company’s stock worth $127,000 after buying an additional 20 shares during the last quarter. Finally, Flinton Capital Management LLC boosted its position in Kaiser Aluminum Corporation by 54.3% in the second quarter. Flinton Capital Management LLC now owns 1,836 shares of the industrial products company’s stock worth $162,000 after buying an additional 646 shares during the last quarter. 99.19% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on KALU. Deutsche Bank AG restated a “buy” rating on shares of Kaiser Aluminum Corporation in a research note on Saturday, June 24th. Cowen and Company cut Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $96.00 to $97.00 in a research note on Monday, August 7th. They noted that the move was a valuation call. BidaskClub cut Kaiser Aluminum Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research note on Friday, July 28th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $87.00 price objective (up from $80.00) on shares of Kaiser Aluminum Corporation in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Kaiser Aluminum Corporation has a consensus rating of “Hold” and a consensus target price of $96.13.
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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