Kaiser Aluminum Corporation (KALU) Stake Raised by Aberdeen Asset Management PLC UK
Aberdeen Asset Management PLC UK grew its position in Kaiser Aluminum Corporation (NASDAQ:KALU) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 663,429 shares of the industrial products company’s stock after acquiring an additional 35,723 shares during the quarter. Aberdeen Asset Management PLC UK owned about 3.94% of Kaiser Aluminum Corporation worth $58,727,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Acrospire Investment Management LLC purchased a new stake in shares of Kaiser Aluminum Corporation in the first quarter valued at $112,000. SG Americas Securities LLC purchased a new stake in shares of Kaiser Aluminum Corporation in the first quarter valued at $119,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Kaiser Aluminum Corporation in the first quarter valued at $122,000. First Mercantile Trust Co. raised its stake in shares of 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 valued at $127,000 after acquiring an additional 20 shares during the period. Finally, KBC Group NV purchased a new stake in shares of Kaiser Aluminum Corporation in the second quarter valued at $188,000. 98.04% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Jack A. Hockema sold 9,000 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $91.18, for a total value of $820,620.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Del L. Miller sold 817 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $97.07, for a total transaction of $79,306.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,714 shares of company stock worth $2,036,826. 3.00% of the stock is owned by insiders.
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Kaiser Aluminum Corporation (KALU) traded down 1.92% on Friday, reaching $97.01. 109,508 shares of the company traded hands. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 21.31 and a beta of 0.54. The stock has a 50 day moving average of $96.38 and a 200-day moving average of $86.26. Kaiser Aluminum Corporation has a 1-year low of $69.41 and a 1-year high of $99.70.
Kaiser Aluminum Corporation (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.46. The firm had revenue of $356 million for the quarter, compared to analyst estimates of $349.62 million. Kaiser Aluminum Corporation had a net margin of 5.87% and a return on equity of 11.71%. Kaiser Aluminum Corporation’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.02 EPS. On average, equities analysts anticipate that Kaiser Aluminum Corporation will post $5.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Thursday, July 27th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, July 25th. This represents a $2.00 annualized dividend and a yield of 2.06%. Kaiser Aluminum Corporation’s dividend payout ratio (DPR) is currently 44.44%.
Several equities research analysts have recently weighed in on KALU shares. BidaskClub raised shares of Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research raised shares of Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research note on Friday, July 28th. Cowen and Company downgraded shares of Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $96.00 to $97.00 in a research note on Monday, August 7th. They noted that the move was a valuation call. Deutsche Bank AG set a $100.00 price target on shares of Kaiser Aluminum Corporation and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $87.00 price target (up previously from $80.00) on shares of Kaiser Aluminum Corporation in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $96.13.
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.
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