Credit Suisse AG Has $1.37 Million Position in Kaiser Aluminum Corporation (KALU)

Credit Suisse AG decreased its position in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) by 57.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,196 shares of the industrial products company’s stock after selling 23,586 shares during the period. Credit Suisse AG’s holdings in Kaiser Aluminum Corporation were worth $1,374,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of KALU. Acrospire Investment Management LLC purchased a new stake in Kaiser Aluminum Corporation during the first quarter worth approximately $112,000. Comerica Bank boosted its stake in Kaiser Aluminum Corporation by 1.6% in the first quarter. Comerica Bank now owns 19,420 shares of the industrial products company’s stock worth $1,642,000 after buying an additional 313 shares during the last quarter. Suntrust Banks Inc. boosted its stake in Kaiser Aluminum Corporation by 10.0% in the first quarter. Suntrust Banks Inc. now owns 26,922 shares of the industrial products company’s stock worth $2,150,000 after buying an additional 2,442 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Kaiser Aluminum Corporation by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 338,868 shares of the industrial products company’s stock worth $27,075,000 after buying an additional 5,069 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Kaiser Aluminum Corporation by 69.3% in the first quarter. First Trust Advisors LP now owns 30,799 shares of the industrial products company’s stock worth $2,461,000 after buying an additional 12,610 shares during the last quarter. 99.19% of the stock is owned by institutional investors.

Shares of Kaiser Aluminum Corporation (NASDAQ KALU) traded up 2.35% on Wednesday, reaching $96.40. 25,855 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $93.57 and a 200 day moving average of $84.39. The firm has a market capitalization of $1.62 billion, a P/E ratio of 21.17 and a beta of 0.54. Kaiser Aluminum Corporation has a one year low of $69.41 and a one year high of $98.72.

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 for the quarter, topping the consensus estimate of $1.01 by $0.46. The business had revenue of $356 million during the quarter, compared to the consensus estimate of $349.62 million. Kaiser Aluminum Corporation had a net margin of 5.87% and a return on equity of 11.71%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.02 EPS. On average, equities research analysts predict 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. Stockholders of record on Thursday, July 27th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, July 25th. This represents a $2.00 annualized dividend and a dividend yield of 2.12%. Kaiser Aluminum Corporation’s dividend payout ratio is presently 44.44%.

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A number of research firms recently commented on KALU. BidaskClub raised shares of Kaiser Aluminum Corporation from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Morgan Stanley reissued an “equal weight” rating and set a $87.00 target price (up previously from $80.00) on shares of Kaiser Aluminum Corporation in a research report on Tuesday, July 25th. Cowen and Company cut shares of Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and increased their target price for the company from $96.00 to $97.00 in a research report on Monday, August 7th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research report on Friday, July 28th. Finally, Bank of America Corporation increased their target price on shares of Kaiser Aluminum Corporation from $79.00 to $85.00 and gave the company an “underperform” rating in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Kaiser Aluminum Corporation presently has an average rating of “Hold” and an average target price of $96.13.

In other news, VP Del L. Miller sold 817 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $97.07, for a total transaction of $79,306.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Bartholomew sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $92.00, for a total transaction of $92,000.00. Following the sale, the director now owns 14,344 shares of the company’s stock, valued at approximately $1,319,648. The disclosure for this sale can be found here. Insiders have sold a total of 18,714 shares of company stock valued at $1,748,706 in the last 90 days. Insiders own 3.00% of the company’s stock.

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

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