Kaiser Aluminum Corporation (NASDAQ:KALU) VP Melinda C. Ellsworth sold 1,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $99.48, for a total transaction of $99,480.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Kaiser Aluminum Corporation (NASDAQ:KALU) last released its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.19). Kaiser Aluminum Corporation had a return on equity of 11.45% and a net margin of 6.18%. The business had revenue of $332.80 million for the quarter, compared to analyst estimates of $335.37 million. During the same quarter in the previous year, the company posted $1.02 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, October 25th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, October 24th. This represents a $2.00 annualized dividend and a yield of 2.04%. Kaiser Aluminum Corporation’s payout ratio is 41.32%.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in KALU. BlackRock Inc. raised its holdings in Kaiser Aluminum Corporation by 12,449.4% during the first quarter. BlackRock Inc. now owns 2,174,693 shares of the industrial products company’s stock worth $173,757,000 after buying an additional 2,157,364 shares during the last quarter. FMR LLC raised its holdings in Kaiser Aluminum Corporation by 136.8% during the second quarter. FMR LLC now owns 205,561 shares of the industrial products company’s stock worth $18,196,000 after buying an additional 118,741 shares during the last quarter. Macquarie Group Ltd. raised its holdings in Kaiser Aluminum Corporation by 30.9% during the second quarter. Macquarie Group Ltd. now owns 418,863 shares of the industrial products company’s stock worth $37,078,000 after buying an additional 98,855 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Kaiser Aluminum Corporation by 414.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 94,571 shares of the industrial products company’s stock worth $8,371,000 after acquiring an additional 76,192 shares in the last quarter. Finally, Citadel Advisors LLC grew its stake in shares of Kaiser Aluminum Corporation by 1,303.4% in the 2nd quarter. Citadel Advisors LLC now owns 78,283 shares of the industrial products company’s stock worth $6,930,000 after acquiring an additional 72,705 shares in the last quarter. Hedge funds and other institutional investors own 98.04% of the company’s stock.
Several brokerages have recently issued reports on KALU. Cowen and Company downgraded shares of Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and increased their price objective for the stock 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 downgraded shares of Kaiser Aluminum Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub downgraded shares of Kaiser Aluminum Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, Deutsche Bank AG set a $100.00 price objective on shares of Kaiser Aluminum Corporation and gave the stock a “buy” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $97.25.
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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