Price T Rowe Associates Inc. MD Trims Stake in Kaiser Aluminum Co. (NASDAQ:KALU)

Price T Rowe Associates Inc. MD lessened its stake in Kaiser Aluminum Co. (NASDAQ:KALU) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,395 shares of the industrial products company’s stock after selling 1,277 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Kaiser Aluminum were worth $1,531,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of KALU. Vanguard Group Inc. grew its holdings in Kaiser Aluminum by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,883,302 shares of the industrial products company’s stock worth $232,569,000 after acquiring an additional 50,342 shares in the last quarter. Macquarie Group Ltd. increased its holdings in shares of Kaiser Aluminum by 1.6% during the 2nd quarter. Macquarie Group Ltd. now owns 797,077 shares of the industrial products company’s stock valued at $98,431,000 after purchasing an additional 12,936 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Kaiser Aluminum by 2.7% during the 2nd quarter. Victory Capital Management Inc. now owns 791,838 shares of the industrial products company’s stock valued at $97,784,000 after purchasing an additional 20,833 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Kaiser Aluminum by 7.8% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 472,159 shares of the industrial products company’s stock valued at $58,307,000 after purchasing an additional 34,275 shares in the last quarter. Finally, abrdn plc increased its holdings in Kaiser Aluminum by 11.3% in the 2nd quarter. abrdn plc now owns 454,859 shares of the industrial products company’s stock worth $56,210,000 after acquiring an additional 46,039 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors.

KALU has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Kaiser Aluminum in a research note on Thursday, September 9th. They set a “sell” rating and a $122.00 target price on the stock. Zacks Investment Research cut shares of Kaiser Aluminum from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 20th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Kaiser Aluminum has a consensus rating of “Hold” and an average price target of $118.67.

KALU stock opened at $101.58 on Thursday. The company has a market capitalization of $1.61 billion, a P/E ratio of -112.87 and a beta of 1.24. Kaiser Aluminum Co. has a twelve month low of $77.39 and a twelve month high of $141.07. The business has a 50 day simple moving average of $106.88 and a 200-day simple moving average of $118.36. The company has a current ratio of 2.75, a quick ratio of 1.82 and a debt-to-equity ratio of 1.44.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings results on Tuesday, October 19th. The industrial products company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.75). The company had revenue of $750.60 million for the quarter, compared to analyst estimates of $782.96 million. Kaiser Aluminum had a positive return on equity of 5.65% and a negative net margin of 0.68%. Kaiser Aluminum’s revenue for the quarter was up 193.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share. Research analysts predict that Kaiser Aluminum Co. will post 4.06 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 15th. Stockholders of record on Monday, October 25th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Friday, October 22nd. Kaiser Aluminum’s dividend payout ratio is currently -320.00%.

In related news, CFO Neal E. West sold 400 shares of the firm’s stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $106.02, for a total transaction of $42,408.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack A. Hockema sold 750 shares of the firm’s stock in a transaction dated Thursday, November 18th. The shares were sold at an average price of $102.11, for a total value of $76,582.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,950 shares of company stock worth $428,575. 1.20% of the stock is owned by corporate insiders.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corp. engages in the manufacture and sale of semi-fabricated specialty aluminum products. The firm caters aerospace, general engineering, automotive, and custom industrial applications. Its products include plate, sheet, coil, hard alloy shapes, soft alloy extrusions, seamless & structural extruded, drawn tube, hard alloy rod, bar, wire and forge stock.

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

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