Kaiser Aluminum Corporation (KALU) Shares Sold by Texas Permanent School Fund
Texas Permanent School Fund cut its position in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,537 shares of the industrial products company’s stock after selling 121 shares during the period. Texas Permanent School Fund owned 0.07% of Kaiser Aluminum Corporation worth $1,110,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Teza Capital Management LLC acquired a new position in Kaiser Aluminum Corporation during the first quarter valued at $325,000. Acrospire Investment Management LLC acquired a new position in Kaiser Aluminum Corporation during the first quarter valued at $112,000. Comerica Bank raised its position in Kaiser Aluminum Corporation by 1.6% in the first quarter. Comerica Bank now owns 19,420 shares of the industrial products company’s stock valued at $1,642,000 after buying an additional 313 shares during the last quarter. Suntrust Banks Inc. raised its position in Kaiser Aluminum Corporation by 10.0% in the first quarter. Suntrust Banks Inc. now owns 26,922 shares of the industrial products company’s stock valued at $2,150,000 after buying an additional 2,442 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Kaiser Aluminum Corporation by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 338,868 shares of the industrial products company’s stock valued at $27,075,000 after buying an additional 5,069 shares during the last quarter. Institutional investors own 99.19% of the company’s stock.
Kaiser Aluminum Corporation (NASDAQ KALU) opened at 94.72 on Friday. The firm has a 50-day moving average of $94.27 and a 200-day moving average of $84.64. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 20.80 and a beta of 0.54. Kaiser Aluminum Corporation has a one year low of $69.41 and a one year high of $98.72.
Kaiser Aluminum Corporation (NASDAQ:KALU) last issued its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.46. Kaiser Aluminum Corporation had a net margin of 5.87% and a return on equity of 11.71%. The firm had revenue of $356 million during the quarter, compared to the consensus estimate of $349.62 million. During the same period in the prior year, the firm earned $1.02 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Analysts anticipate that Kaiser Aluminum Corporation will post $5.47 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Thursday, July 27th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Tuesday, July 25th. Kaiser Aluminum Corporation’s dividend payout ratio (DPR) is presently 44.44%.
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Several equities analysts recently weighed in on KALU shares. BidaskClub upgraded shares of Kaiser Aluminum Corporation from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Deutsche Bank AG set a $100.00 target price on shares of Kaiser Aluminum Corporation and gave the company a “buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Friday, July 28th. Bank of America Corporation lifted their target price on shares of Kaiser Aluminum Corporation from $79.00 to $85.00 and gave the company an “underperform” rating in a report on Friday, July 21st. Finally, Cowen and Company lowered shares of Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $96.00 to $97.00 in a report on Monday, August 7th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Kaiser Aluminum Corporation currently has a consensus rating of “Hold” and an average price target of $96.13.
In other Kaiser Aluminum Corporation news, Director Carolyn Bartholomew sold 1,000 shares of the stock in a transaction on Monday, July 10th. The shares were sold at an average price of $92.00, for a total value of $92,000.00. Following the completion of the sale, the director now directly owns 14,344 shares of the company’s stock, valued at approximately $1,319,648. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Del L. Miller sold 1,282 shares of the stock in a transaction on Monday, July 24th. The shares were sold at an average price of $96.81, for a total transaction of $124,110.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,714 shares of company stock valued at $1,748,706. Insiders own 3.00% of the company’s stock.
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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