Summit Global Investments boosted its position in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) by 29.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,700 shares of the industrial products company’s stock after purchasing an additional 1,300 shares during the quarter. Summit Global Investments’ holdings in Kaiser Aluminum Corporation were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Kaiser Aluminum Corporation by 12,449.4% during the 1st quarter. BlackRock Inc. now owns 2,174,693 shares of the industrial products company’s stock worth $173,757,000 after purchasing an additional 2,157,364 shares during the last quarter. Aberdeen Asset Management PLC UK raised its holdings in Kaiser Aluminum Corporation by 5.7% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 663,429 shares of the industrial products company’s stock worth $58,727,000 after purchasing an additional 35,723 shares during the last quarter. Royce & Associates LP raised its holdings in Kaiser Aluminum Corporation by 3.5% during the 1st quarter. Royce & Associates LP now owns 648,100 shares of the industrial products company’s stock worth $51,783,000 after purchasing an additional 21,950 shares during the last quarter. Paradice Investment Management LLC raised its holdings in Kaiser Aluminum Corporation by 4.3% during the 2nd quarter. Paradice Investment Management LLC now owns 563,407 shares of the industrial products company’s stock worth $49,873,000 after purchasing an additional 23,200 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Kaiser Aluminum Corporation by 1.1% during the 2nd quarter. Victory Capital Management Inc. now owns 503,984 shares of the industrial products company’s stock worth $44,613,000 after purchasing an additional 5,577 shares during the last quarter. 98.04% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have weighed in on KALU. Deutsche Bank AG reissued a “buy” rating on shares of Kaiser Aluminum Corporation in a report 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 stock from $96.00 to $97.00 in a report 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 report on Wednesday, August 9th. Zacks Investment Research upgraded Kaiser Aluminum Corporation from a “sell” rating to a “hold” rating in a research report on Friday, July 14th. Finally, Morgan Stanley restated an “equal weight” rating and set a $87.00 target price (up from $80.00) on shares of Kaiser Aluminum Corporation in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Kaiser Aluminum Corporation currently has an average rating of “Buy” and an average price target of $95.57.

In other news, VP Mark Krouse sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $96.50, for a total transaction of $144,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jack A. Hockema sold 9,000 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $91.18, for a total value of $820,620.00. The disclosure for this sale can be found here. Insiders have sold 21,714 shares of company stock valued at $2,036,826 over the last 90 days. 3.00% of the stock is owned by corporate insiders.

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Kaiser Aluminum Corporation (KALU) opened at 96.50 on Wednesday. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 21.19 and a beta of 0.54. The stock’s 50 day moving average price is $96.42 and its 200 day moving average price 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 issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share (EPS) for the quarter, topping 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 company had revenue of $356.00 million during the quarter, compared to the consensus estimate of $349.62 million. During the same period last year, the company earned $1.02 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Kaiser Aluminum Corporation will post $5.47 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Thursday, July 27th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, July 25th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.06%. Kaiser Aluminum Corporation’s dividend payout ratio (DPR) is 44.44%.

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

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