Morgan Stanley cut its stake in Kaiser Aluminum Corporation (NASDAQ:KALU) by 44.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 42,735 shares of the industrial products company’s stock after selling 34,499 shares during the period. Morgan Stanley owned 0.25% of Kaiser Aluminum Corporation worth $3,415,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of KALU. Victory Capital Management Inc. boosted its stake in Kaiser Aluminum Corporation by 36,359.9% in the first quarter. Victory Capital Management Inc. now owns 498,407 shares of the industrial products company’s stock valued at $39,823,000 after buying an additional 497,040 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its stake in Kaiser Aluminum Corporation by 18.2% in the first quarter. Aberdeen Asset Management PLC UK now owns 627,706 shares of the industrial products company’s stock valued at $50,154,000 after buying an additional 96,509 shares during the last quarter. Robecosam AG boosted its stake in Kaiser Aluminum Corporation by 150.0% in the first quarter. Robecosam AG now owns 125,000 shares of the industrial products company’s stock valued at $9,900,000 after buying an additional 75,000 shares during the last quarter. Paradice Investment Management LLC boosted its stake in Kaiser Aluminum Corporation by 11.9% in the first quarter. Paradice Investment Management LLC now owns 540,207 shares of the industrial products company’s stock valued at $43,163,000 after buying an additional 57,654 shares during the last quarter. Finally, Granite Investment Partners LLC boosted its stake in Kaiser Aluminum Corporation by 31.3% in the first quarter. Granite Investment Partners LLC now owns 138,044 shares of the industrial products company’s stock valued at $11,030,000 after buying an additional 32,947 shares during the last quarter. 99.19% of the stock is currently owned by institutional investors.

Shares of Kaiser Aluminum Corporation (KALU) traded down 0.18% during mid-day trading on Friday, reaching $93.81. 33,701 shares of the company’s stock traded hands. Kaiser Aluminum Corporation has a 12-month low of $69.41 and a 12-month high of $98.72. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 20.60 and a beta of 0.54. The stock has a 50-day moving average price of $94.05 and a 200 day moving average price of $84.53.

Kaiser Aluminum Corporation (NASDAQ:KALU) last issued its earnings results on Wednesday, July 19th. The industrial products company reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.46. The business had revenue of $356 million for the quarter, compared to the consensus estimate of $349.62 million. Kaiser Aluminum Corporation had a net margin of 5.87% and a return on equity of 11.71%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 EPS. Analysts anticipate that Kaiser Aluminum Corporation will post $5.47 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Thursday, July 27th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, July 25th. This represents a $2.00 dividend on an annualized basis and a yield of 2.13%. Kaiser Aluminum Corporation’s dividend payout ratio is currently 44.44%.

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Several analysts recently issued reports on KALU shares. BidaskClub cut Kaiser Aluminum Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Bank of America Corporation raised their target price on Kaiser Aluminum Corporation from $79.00 to $85.00 and gave the stock an “underperform” rating in a research note on Friday, July 21st. Cowen and Company reissued an “outperform” rating and issued a $96.00 target price (up from $92.00) on shares of Kaiser Aluminum Corporation in a research note on Friday, April 21st. Zacks Investment Research raised Kaiser Aluminum Corporation from a “sell” rating to a “hold” rating and set a $95.00 target price on the stock in a research note on Wednesday, April 26th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $87.00 target price (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 issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $96.13.

In other Kaiser Aluminum Corporation news, VP Del L. Miller sold 817 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $97.07, for a total value of $79,306.19. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jack A. Hockema sold 9,000 shares of the company’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $91.18, for a total transaction of $820,620.00. The disclosure for this sale can be found here. Insiders sold a total of 18,714 shares of company stock worth $1,748,706 over the last 90 days. Insiders own 3.00% of the company’s stock.

Kaiser Aluminum Corporation Company 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.

Institutional Ownership by Quarter for Kaiser Aluminum Corporation (NASDAQ:KALU)

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