Kaiser Aluminum Corp. (NASDAQ:KALU) dropped 5.2% during mid-day trading on Tuesday . The company traded as low as $88.29 and last traded at $88.77, with a volume of 117,864 shares trading hands. The stock had previously closed at $93.65.

KALU has been the topic of a number of recent analyst reports. Goldman Sachs Group Inc. initiated coverage on shares of Kaiser Aluminum Corp. in a report on Thursday, May 19th. They set a “sell” rating on the stock. Deutsche Bank AG restated a “buy” rating on shares of Kaiser Aluminum Corp. in a report on Thursday, March 24th. Bank of America Corp. restated a “buy” rating on shares of Kaiser Aluminum Corp. in a report on Friday, June 17th. Cowen and Company boosted their price target on shares of Kaiser Aluminum Corp. from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. Finally, Zacks Investment Research lowered shares of Kaiser Aluminum Corp. from a “buy” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $90.33.

The company has a 50 day moving average of $89.21 and a 200-day moving average of $83.84. The firm has a market capitalization of $1.48 billion and a P/E ratio of 17.67.

Kaiser Aluminum Corp. (NASDAQ:KALU) last issued its earnings results on Wednesday, July 20th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by $0.36. The firm had revenue of $335 million for the quarter, compared to the consensus estimate of $351.72 million. During the same quarter in the previous year, the business earned $1.27 earnings per share. The company’s revenue was down 8.8% on a year-over-year basis. On average, analysts predict that Kaiser Aluminum Corp. will post $5.34 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, July 25th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Thursday, July 21st.

In other news, EVP John Malcolm Donnan sold 5,915 shares of the firm’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $89.93, for a total value of $531,935.95. Following the transaction, the executive vice president now owns 17,769 shares of the company’s stock, valued at approximately $1,597,966.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel J. Rinkenberger sold 803 shares of the firm’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $90.05, for a total transaction of $72,310.15. Following the completion of the transaction, the chief financial officer now directly owns 71,700 shares in the company, valued at approximately $6,456,585. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Eagle Asset Management raised its position in Kaiser Aluminum Corp. by 99.0% in the third quarter. Eagle Asset Management now owns 350,154 shares of the company’s stock valued at $28,098,000 after buying an additional 174,193 shares during the last quarter. Sei Investments Co. raised its position in Kaiser Aluminum Corp. by 3,335.4% in the fourth quarter. Sei Investments Co. now owns 31,640 shares of the company’s stock valued at $2,648,000 after buying an additional 30,719 shares during the last quarter. Morgan Stanley raised its position in Kaiser Aluminum Corp. by 23.6% in the fourth quarter. Morgan Stanley now owns 132,281 shares of the company’s stock valued at $11,066,000 after buying an additional 25,245 shares during the last quarter. Aberdeen Asset Management PLC UK raised its position in Kaiser Aluminum Corp. by 22.6% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 123,565 shares of the company’s stock valued at $10,117,000 after buying an additional 22,765 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its position in Kaiser Aluminum Corp. by 4.2% in the fourth quarter. OppenheimerFunds Inc. now owns 378,430 shares of the company’s stock valued at $31,660,000 after buying an additional 15,113 shares during the last quarter.

Kaiser Aluminum Corporation is engaged in the production of semi-fabricated specialty aluminum products. The Company manufactures aluminum plate and sheet, and extruded and drawn products, primarily used in aerospace/high strength, automotive, general engineering and other industrial end market applications.

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