Comerica Bank reduced its holdings in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,063 shares of the industrial products company’s stock after selling 1,357 shares during the quarter. Comerica Bank owned 0.11% of Kaiser Aluminum Corporation worth $1,766,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of 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 purchasing an additional 2,157,364 shares in the last quarter. Royce & Associates LP raised its holdings in Kaiser Aluminum Corporation by 3.5% in the first quarter. Royce & Associates LP now owns 648,100 shares of the industrial products company’s stock valued at $51,783,000 after acquiring an additional 21,950 shares in the last quarter. Aberdeen Asset Management PLC UK raised its holdings in Kaiser Aluminum Corporation by 18.2% in the first quarter. Aberdeen Asset Management PLC UK now owns 627,706 shares of the industrial products company’s stock valued at $50,154,000 after acquiring an additional 96,509 shares in the last quarter. Paradice Investment Management LLC raised its holdings in Kaiser Aluminum Corporation by 11.9% in the first quarter. Paradice Investment Management LLC now owns 540,207 shares of the industrial products company’s stock valued at $43,163,000 after acquiring an additional 57,654 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Kaiser Aluminum Corporation by 36,359.9% in the first quarter. Victory Capital Management Inc. now owns 498,407 shares of the industrial products company’s stock valued at $39,823,000 after acquiring an additional 497,040 shares in the last quarter. 98.04% of the stock is currently owned by institutional investors and hedge funds.
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A number of brokerages have weighed in on KALU. BidaskClub raised shares of Kaiser Aluminum Corporation from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. 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 report on Tuesday, July 25th. Cowen and Company cut shares of Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $96.00 to $97.00 in a report on Monday, August 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research report on Friday, July 28th. Finally, Bank of America Corporation upped their price target on shares of Kaiser Aluminum Corporation from $79.00 to $85.00 and gave the stock an “underperform” rating in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Kaiser Aluminum Corporation has an average rating of “Buy” and a consensus price target of $95.57.
In other Kaiser Aluminum Corporation news, Director Carolyn Bartholomew sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $99.00, for a total transaction of $99,000.00. Following the completion of the transaction, the director now owns 13,344 shares in the company, valued at $1,321,056. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jack A. Hockema sold 9,000 shares of the business’s stock in a transaction that occurred 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. In the last quarter, insiders sold 21,714 shares of company stock valued at $2,036,826. 3.00% of the stock is currently owned by company insiders.
Kaiser Aluminum Corporation (NASDAQ:KALU) opened at 98.42 on Tuesday. Kaiser Aluminum Corporation has a 12 month low of $69.41 and a 12 month high of $99.70. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 21.62 and a beta of 0.54. The company has a 50-day moving average of $96.48 and a 200-day moving average of $87.11.
Kaiser Aluminum Corporation (NASDAQ:KALU) last released its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.46. The company had revenue of $356.00 million during the quarter, compared to analyst estimates of $349.62 million. Kaiser Aluminum Corporation had a return on equity of 11.71% and a net margin of 5.87%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $1.02 earnings per share. Analysts predict that Kaiser Aluminum Corporation will post $5.47 EPS for the current year.
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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