Paradice Investment Management LLC Lowers Stake in Kaiser Aluminum Corp. (KALU)
Paradice Investment Management LLC cut its holdings in Kaiser Aluminum Corp. (NASDAQ:KALU) by 39.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 327,148 shares of the industrial products company’s stock after selling 209,961 shares during the quarter. Kaiser Aluminum comprises approximately 2.6% of Paradice Investment Management LLC’s portfolio, making the stock its 18th largest holding. Paradice Investment Management LLC’s holdings in Kaiser Aluminum were worth $34,956,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Shell Asset Management Co. increased its position in Kaiser Aluminum by 80.6% in the third quarter. Shell Asset Management Co. now owns 31,579 shares of the industrial products company’s stock worth $2,407,000 after purchasing an additional 14,089 shares during the period. Sterling Capital Management LLC acquired a new stake in Kaiser Aluminum in the third quarter worth about $1,156,000. Vident Investment Advisory LLC acquired a new stake in Kaiser Aluminum in the third quarter worth about $2,751,000. State Street Corp increased its position in Kaiser Aluminum by 7.9% in the second quarter. State Street Corp now owns 686,950 shares of the industrial products company’s stock worth $60,811,000 after purchasing an additional 50,201 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in Kaiser Aluminum in the second quarter worth about $1,328,000. Hedge funds and other institutional investors own 99.75% of the company’s stock.
Kaiser Aluminum Corp. (KALU) opened at $110.24 on Thursday. The company has a current ratio of 3.75, a quick ratio of 2.55 and a debt-to-equity ratio of 0.47. Kaiser Aluminum Corp. has a 1-year low of $74.56 and a 1-year high of $116.86. The stock has a market capitalization of $1,866.85, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.15 and a beta of 0.54.
A number of analysts recently commented on the company. BidaskClub upgraded Kaiser Aluminum from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Zacks Investment Research lowered Kaiser Aluminum from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Morgan Stanley lifted their price objective on Kaiser Aluminum from $87.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 16th. Deutsche Bank lowered Kaiser Aluminum from a “buy” rating to a “hold” rating and set a $104.00 price objective for the company. in a research report on Tuesday, October 17th. Finally, Cowen set a $97.00 price objective on Kaiser Aluminum and gave the stock a “hold” rating in a research report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Kaiser Aluminum currently has a consensus rating of “Hold” and an average target price of $101.29.
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Kaiser Aluminum 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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