State Street Corp Lowers Position in Kaiser Aluminum Corporation (KALU)

State Street Corp cut its stake in Kaiser Aluminum Corporation (NASDAQ:KALU) by 12.3% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 636,749 shares of the industrial products company’s stock after selling 89,707 shares during the period. State Street Corp owned approximately 3.70% of Kaiser Aluminum Corporation worth $50,878,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KALU. Adams Diversified Equity Fund Inc. boosted its position in Kaiser Aluminum Corporation by 53.4% in the first quarter. Adams Diversified Equity Fund Inc. now owns 13,500 shares of the industrial products company’s stock valued at $1,079,000 after buying an additional 4,700 shares during the period. Investment Counselors of Maryland LLC boosted its position in Kaiser Aluminum Corporation by 13.1% in the first quarter. Investment Counselors of Maryland LLC now owns 222,547 shares of the industrial products company’s stock valued at $17,782,000 after buying an additional 25,830 shares during the period. Granite Investment Partners LLC boosted its position in Kaiser Aluminum Corporation by 31.3% in the first quarter. Granite Investment Partners LLC now owns 138,044 shares of the industrial products company’s stock valued at $11,030,000 after buying an additional 32,947 shares during the period. Dalton Greiner Hartman Maher & Co. boosted its position in Kaiser Aluminum Corporation by 3.5% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 179,025 shares of the industrial products company’s stock valued at $14,304,000 after buying an additional 6,014 shares during the period. Finally, Alpha Windward LLC boosted its position in Kaiser Aluminum Corporation by 4.3% in the first quarter. Alpha Windward LLC now owns 5,880 shares of the industrial products company’s stock valued at $470,000 after buying an additional 240 shares during the period. Hedge funds and other institutional investors own 99.19% of the company’s stock.

Shares of Kaiser Aluminum Corporation (KALU) traded up 0.79% during midday trading on Friday, hitting $94.72. 141,202 shares of the company traded hands. The stock has a market capitalization of $1.60 billion, a P/E ratio of 20.80 and a beta of 0.54. Kaiser Aluminum Corporation has a 12-month low of $69.41 and a 12-month high of $98.72. The stock’s 50-day moving average is $94.27 and its 200 day moving average is $84.64.

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, beating the Zacks’ consensus estimate of $1.01 by $0.46. Kaiser Aluminum Corporation had a net margin of 5.87% and a return on equity of 11.71%. The firm had revenue of $356 million during the quarter, compared to analysts’ expectations of $349.62 million. During the same quarter in the previous year, the company earned $1.02 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts expect that Kaiser Aluminum Corporation will post $5.47 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Thursday, July 27th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Tuesday, July 25th. Kaiser Aluminum Corporation’s dividend payout ratio is presently 44.44%.

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Several research analysts have recently issued reports on the stock. BidaskClub cut shares of Kaiser Aluminum Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Cowen and Company cut shares of Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $96.00 to $97.00 in a report on Monday, August 7th. They noted that the move was a valuation call. Deutsche Bank AG set a $100.00 price objective on shares of Kaiser Aluminum Corporation and gave the company a “buy” rating in a report on Monday, July 31st. 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 note on Friday, July 28th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $87.00 target price (up from $80.00) on shares of Kaiser Aluminum Corporation in a research note on Tuesday, July 25th. 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 company. The stock currently has a consensus rating of “Hold” and an average price target of $96.13.

In other news, EVP John Malcolm Donnan sold 5,115 shares of the business’s stock in a transaction on 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 document filed with the SEC, which is accessible through this link. Also, VP Del L. Miller sold 817 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $97.07, for a total transaction of $79,306.19. The disclosure for this sale can be found here. In the last three months, insiders sold 18,714 shares of company stock worth $1,748,706. 3.00% of the stock is currently owned by insiders.

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.

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

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