Kaiser Aluminum Corp. (KALU) Shares Down 5.2%
Kaiser Aluminum Corp. (NASDAQ:KALU)’s share price fell 5.2% during trading on Tuesday . The stock 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.
Several brokerages recently commented on KALU. Cowen and Company reissued a “buy” rating on shares of Kaiser Aluminum Corp. in a research note on Saturday, April 23rd. Zacks Investment Research downgraded shares of Kaiser Aluminum Corp. from a “buy” rating to a “hold” rating in a research note on Monday. Deutsche Bank AG dropped their price target on shares of Kaiser Aluminum Corp. from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, April 25th. Bank of America Corp. reaffirmed a “buy” rating on shares of Kaiser Aluminum Corp. in a research note on Friday, June 17th. Finally, Goldman Sachs Group Inc. began coverage on shares of Kaiser Aluminum Corp. in a research note on Thursday, May 19th. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Kaiser Aluminum Corp. has an average rating of “Hold” and a consensus price target of $90.00.
The stock has a market capitalization of $1.59 billion and a P/E ratio of 18.91. The firm has a 50 day moving average of $89.23 and a 200-day moving average of $83.79.
Kaiser Aluminum Corp. (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, April 20th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.27 by $0.24. The firm had revenue of $343.20 million for the quarter, compared to analysts’ expectations of $347.33 million. During the same period in the prior year, the firm posted $1.01 EPS. Kaiser Aluminum Corp.’s revenue was down 7.7% on a year-over-year basis. On average, equities analysts anticipate that Kaiser Aluminum Corp. will post $5.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, July 25th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, July 21st. This represents a $1.80 annualized dividend and a yield of 2.03%.
In related news, CAO Neal E. West sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $92.00, for a total transaction of $276,000.00. Following the completion of the transaction, the chief accounting officer now owns 3,426 shares of the company’s stock, valued at $315,192. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John Malcolm Donnan sold 5,915 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $89.93, for a total transaction of $531,935.95. Following the transaction, the executive vice president now directly owns 17,769 shares of the company’s stock, valued at approximately $1,597,966.17. The disclosure for this sale can be found here.
A number of institutional investors recently added to or reduced their stakes in the company. Paradice Investment Management LLC boosted its position in Kaiser Aluminum Corp. by 15.2% in the fourth quarter. Paradice Investment Management LLC now owns 460,474 shares of the company’s stock worth $38,523,000 after buying an additional 60,766 shares in the last quarter. OppenheimerFunds Inc. boosted 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 worth $31,660,000 after buying an additional 15,113 shares in the last quarter. Eagle Asset Management boosted 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 worth $28,098,000 after buying an additional 174,193 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Kaiser Aluminum Corp. by 8.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 180,173 shares of the company’s stock worth $15,074,000 after buying an additional 13,652 shares in the last quarter. Finally, Morgan Stanley boosted 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 worth $11,066,000 after buying an additional 25,245 shares in the last quarter.
Kaiser Aluminum Corporation is engaged in the production of semi-fabricated specialty aluminum products. The Company manufactures rolled, extruded and drawn aluminum products to serve fits end market applications, such as aerospace and high strength products (Aero/HS products), extrusions for automotive applications (Automotive Extrusions), general engineering products (GE products) and other industrial products (Other products).
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