First Eagle Investment Management LLC Cuts Holdings in Kaiser Aluminum Corporation $KALU

First Eagle Investment Management LLC trimmed its position in Kaiser Aluminum Corporation (NASDAQ:KALU) by 0.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 151,232 shares of the industrial products company’s stock after selling 1,000 shares during the period. First Eagle Investment Management LLC’s holdings in Kaiser Aluminum were worth $12,083,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of KALU. American Century Companies Inc. grew its holdings in shares of Kaiser Aluminum by 11.5% in the first quarter. American Century Companies Inc. now owns 499,314 shares of the industrial products company’s stock valued at $30,268,000 after acquiring an additional 51,591 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in Kaiser Aluminum by 67.4% in the first quarter. Bridgeway Capital Management LLC now owns 109,124 shares of the industrial products company’s stock worth $6,615,000 after purchasing an additional 43,930 shares during the last quarter. Nuveen LLC bought a new position in Kaiser Aluminum in the 1st quarter valued at $2,622,000. Jane Street Group LLC increased its position in shares of Kaiser Aluminum by 323.6% during the 1st quarter. Jane Street Group LLC now owns 55,190 shares of the industrial products company’s stock valued at $3,346,000 after purchasing an additional 42,160 shares during the last quarter. Finally, Bastion Asset Management Inc. bought a new stake in shares of Kaiser Aluminum during the 2nd quarter worth $2,997,000. Institutional investors own 99.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 25th. Weiss Ratings upgraded shares of Kaiser Aluminum from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Zacks Research raised shares of Kaiser Aluminum from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. upped their price objective on Kaiser Aluminum from $82.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Finally, Wells Fargo & Company raised their target price on Kaiser Aluminum from $90.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $95.67.

Kaiser Aluminum Stock Up 3.1%

Kaiser Aluminum stock opened at $94.53 on Friday. The firm has a 50 day simple moving average of $81.05 and a 200 day simple moving average of $77.98. The company has a current ratio of 2.48, a quick ratio of 1.08 and a debt-to-equity ratio of 1.29. Kaiser Aluminum Corporation has a 1-year low of $46.81 and a 1-year high of $97.60. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 17.09 and a beta of 1.58.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings results on Wednesday, April 2nd. The industrial products company reported $1.21 EPS for the quarter. The firm had revenue of $765.40 million during the quarter. Kaiser Aluminum had a return on equity of 10.67% and a net margin of 2.85%. On average, analysts predict that Kaiser Aluminum Corporation will post 5.14 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be paid a $0.77 dividend. The ex-dividend date is Friday, October 24th. This represents a $3.08 annualized dividend and a yield of 3.3%. Kaiser Aluminum’s dividend payout ratio (DPR) is currently 55.70%.

Kaiser Aluminum Profile

Kaiser Aluminum Corporation, together with its subsidiaries, engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. It offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.