CNA Financial Corp Has $637,000 Stake in Kaiser Aluminum Corporation (KALU)
CNA Financial Corp continued to hold its stake in Kaiser Aluminum Corporation (NASDAQ:KALU) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,200 shares of the industrial products company’s stock at the end of the 2nd quarter. CNA Financial Corp’s holdings in Kaiser Aluminum Corporation were worth $637,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the business. First Mercantile Trust Co. lifted its stake 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 valued at $127,000 after acquiring an additional 20 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Kaiser Aluminum Corporation by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 5,820 shares of the industrial products company’s stock valued at $465,000 after acquiring an additional 50 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Kaiser Aluminum Corporation by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 6,078 shares of the industrial products company’s stock valued at $486,000 after acquiring an additional 78 shares during the last quarter. Mason Street Advisors LLC lifted its stake in Kaiser Aluminum Corporation by 4.4% in the first quarter. Mason Street Advisors LLC now owns 4,088 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 174 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in Kaiser Aluminum Corporation by 1.9% in the first quarter. Thrivent Financial For Lutherans now owns 9,831 shares of the industrial products company’s stock valued at $785,000 after acquiring an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 98.04% of the company’s stock.
Kaiser Aluminum Corporation (NASDAQ KALU) traded down 1.07% during mid-day trading on Wednesday, hitting $95.96. 5,475 shares of the stock were exchanged. The company has a market capitalization of $1.62 billion, a PE ratio of 21.08 and a beta of 0.54. The stock’s 50-day moving average is $96.42 and its 200 day moving average is $86.47. Kaiser Aluminum Corporation has a 52 week low of $69.41 and a 52 week high of $99.70.
Kaiser Aluminum Corporation (NASDAQ:KALU) last posted its earnings results on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.46. The firm had revenue of $356.00 million during 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%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.02 EPS. On average, 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. Investors of record on Thursday, July 27th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, July 25th. Kaiser Aluminum Corporation’s dividend payout ratio (DPR) is currently 44.44%.
In related news, 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 SEC, which can be accessed through the SEC website. Also, CEO Jack A. Hockema sold 9,000 shares of the business’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 21,714 shares of company stock worth $2,036,826 over the last three months. 3.00% of the stock is owned by insiders.
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KALU has been the subject of a number of recent analyst reports. BidaskClub cut shares of Kaiser Aluminum Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Deutsche Bank AG reiterated a “buy” rating on shares of Kaiser Aluminum Corporation in a research note on Saturday, June 24th. Zacks Investment Research upgraded shares of Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Friday, July 28th. Morgan Stanley reiterated 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. Finally, Cowen and Company cut shares of Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and increased their price target 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Kaiser Aluminum Corporation currently has a consensus rating of “Buy” and a consensus price target of $95.57.
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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