Systematic Financial Management LP increased its stake in Kaiser Aluminum Corporation (NASDAQ:KALU) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,397 shares of the industrial products company’s stock after buying an additional 1,298 shares during the quarter. Systematic Financial Management LP owned approximately 0.80% of Kaiser Aluminum Corporation worth $11,897,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Kaiser Aluminum Corporation by 12,449.4% in the 1st quarter. BlackRock Inc. now owns 2,174,693 shares of the industrial products company’s stock valued at $173,757,000 after buying an additional 2,157,364 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Kaiser Aluminum Corporation by 3.5% in the 1st quarter. Royce & Associates LP now owns 648,100 shares of the industrial products company’s stock valued at $51,783,000 after buying an additional 21,950 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its holdings in shares of Kaiser Aluminum Corporation by 18.2% in the 1st quarter. Aberdeen Asset Management PLC UK now owns 627,706 shares of the industrial products company’s stock valued at $50,154,000 after buying an additional 96,509 shares during the last quarter. Paradice Investment Management LLC boosted its holdings in shares of Kaiser Aluminum Corporation by 4.3% in the 2nd quarter. Paradice Investment Management LLC now owns 563,407 shares of the industrial products company’s stock valued at $49,873,000 after buying an additional 23,200 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Kaiser Aluminum Corporation by 1.1% in the 2nd quarter. Victory Capital Management Inc. now owns 503,984 shares of the industrial products company’s stock valued at $44,613,000 after buying an additional 5,577 shares during the last quarter. 98.04% of the stock is owned by institutional investors.
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In other Kaiser Aluminum Corporation news, Director Alfred E. Osborne, Jr. sold 2,000 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $94.56, for a total value of $189,120.00. Following the completion of the transaction, the director now owns 15,622 shares in the company, valued at approximately $1,477,216.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jack A. Hockema sold 9,000 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $91.18, for a total value of $820,620.00. The disclosure for this sale can be found here. Insiders have sold 21,714 shares of company stock valued at $2,036,826 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.
Shares of Kaiser Aluminum Corporation (NASDAQ KALU) opened at 97.01 on Friday. Kaiser Aluminum Corporation has a 12-month low of $69.41 and a 12-month high of $99.70. The stock has a 50 day moving average price of $96.38 and a 200 day moving average price of $86.26. The firm has a market cap of $1.63 billion, a P/E ratio of 21.31 and a beta of 0.54.
Kaiser Aluminum Corporation (NASDAQ:KALU) last announced its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.46. Kaiser Aluminum Corporation had a return on equity of 11.71% and a net margin of 5.87%. The business had revenue of $356 million during the quarter, compared to the consensus estimate of $349.62 million. During the same quarter in the prior year, the company posted $1.02 earnings per share. Kaiser Aluminum Corporation’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts expect that Kaiser Aluminum Corporation will post $5.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Thursday, July 27th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, July 25th. This represents a $2.00 annualized dividend and a yield of 2.06%. Kaiser Aluminum Corporation’s dividend payout ratio (DPR) is currently 44.44%.
Several equities research analysts have recently commented on the company. Deutsche Bank AG reissued a “buy” rating on shares of Kaiser Aluminum Corporation in a report on Saturday, June 24th. Cowen and Company downgraded 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. BidaskClub downgraded Kaiser Aluminum Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research raised Kaiser Aluminum Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 14th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $87.00 price objective (up previously from $80.00) on shares of Kaiser Aluminum Corporation in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $95.57.
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.
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