Icon Advisers Inc. Co. Cuts Stake in Kaiser Aluminum Corporation $KALU

Icon Advisers Inc. Co. reduced its position in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) by 30.1% in the first quarter, Holdings Channel reports. The firm owned 46,482 shares of the industrial products company’s stock after selling 20,000 shares during the quarter. Kaiser Aluminum accounts for 1.3% of Icon Advisers Inc. Co.’s holdings, making the stock its 19th biggest holding. Icon Advisers Inc. Co.’s holdings in Kaiser Aluminum were worth $5,602,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its position in shares of Kaiser Aluminum by 1.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 3,704 shares of the industrial products company’s stock valued at $446,000 after acquiring an additional 62 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Kaiser Aluminum by 18.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 471 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 73 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Kaiser Aluminum by 2.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,916 shares of the industrial products company’s stock valued at $450,000 after purchasing an additional 76 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Kaiser Aluminum by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 3,127 shares of the industrial products company’s stock valued at $359,000 after buying an additional 97 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Kaiser Aluminum by 20.0% in the 4th quarter. GAMMA Investing LLC now owns 630 shares of the industrial products company’s stock worth $72,000 after buying an additional 105 shares in the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KALU has been the subject of a number of recent analyst reports. Wells Fargo & Company reissued an “underweight” rating and issued a $158.00 target price on shares of Kaiser Aluminum in a research report on Thursday, July 9th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $142.00 price target (up from $124.00) on shares of Kaiser Aluminum in a report on Thursday, April 30th. Wall Street Zen upgraded shares of Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 18th. KeyCorp boosted their price objective on shares of Kaiser Aluminum from $170.00 to $183.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, Zacks Research downgraded shares of Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $165.50.

Kaiser Aluminum Stock Performance

Shares of KALU opened at $164.32 on Thursday. The firm has a market capitalization of $2.68 billion, a P/E ratio of 17.90 and a beta of 1.59. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.47 and a quick ratio of 1.14. Kaiser Aluminum Corporation has a one year low of $71.44 and a one year high of $195.96. The business has a fifty day moving average of $176.12 and a 200 day moving average of $150.31.

Kaiser Aluminum (NASDAQ:KALU) last posted its earnings results on Wednesday, July 22nd. The industrial products company reported $5.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $2.87. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.12 billion. Kaiser Aluminum had a return on equity of 17.00% and a net margin of 4.14%.Kaiser Aluminum’s revenue was up 52.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 earnings per share. As a group, sell-side analysts anticipate that Kaiser Aluminum Corporation will post 9.11 EPS for the current year.

Kaiser Aluminum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 24th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, July 24th. Kaiser Aluminum’s dividend payout ratio is 33.55%.

Insider Transactions at Kaiser Aluminum

In related news, CFO Neal E. West sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $173.29, for a total value of $866,450.00. Following the transaction, the chief financial officer owned 19,091 shares of the company’s stock, valued at approximately $3,308,279.39. This trade represents a 20.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Keith Harvey sold 47,001 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $175.09, for a total transaction of $8,229,405.09. Following the sale, the chief executive officer owned 97,339 shares of the company’s stock, valued at $17,043,085.51. This trade represents a 32.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 71,731 shares of company stock worth $12,529,097. 1.30% of the stock is currently owned by corporate insiders.

Kaiser Aluminum Profile

Kaiser Aluminum Corporation is a U.S.-based producer of semi‐fabricated aluminum products, serving a diverse range of industrial and specialty markets. The company’s offerings include extruded, rolled, and forged aluminum products designed to meet stringent performance requirements in sectors such as aerospace, automotive, defense, electronics, and general engineering. By focusing on high‐value applications, Kaiser Aluminum aims to deliver lightweight, durable solutions that contribute to efficiency and innovation across its customer base.

Operationally, Kaiser Aluminum maintains a network of smelters, extrusion plants, and rolling mills located primarily in North America.