Mark Krouse Sells 1,500 Shares of Kaiser Aluminum Corporation (KALU) Stock
Kaiser Aluminum Corporation (NASDAQ:KALU) VP Mark Krouse sold 1,500 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $96.50, for a total value of $144,750.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Kaiser Aluminum Corporation (NASDAQ KALU) traded up 0.04% on Friday, reaching $96.77. The company had a trading volume of 92,178 shares. Kaiser Aluminum Corporation has a 52-week low of $69.41 and a 52-week high of $98.72. The company has a 50 day moving average price of $90.65 and a 200 day moving average price of $83.23. The stock has a market capitalization of $1.63 billion, a PE ratio of 21.25 and a beta of 0.54.
Kaiser Aluminum Corporation (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.46. The firm had revenue of $356 million during the quarter, compared to analysts’ expectations of $349.62 million. Kaiser Aluminum Corporation had a net margin of 5.87% and a return on equity of 11.71%. Kaiser Aluminum Corporation’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 earnings per share. On average, equities research analysts anticipate that Kaiser Aluminum Corporation will post $5.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Thursday, July 27th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Tuesday, July 25th. Kaiser Aluminum Corporation’s dividend payout ratio is 44.44%.
Kaiser Aluminum Corporation declared that its board has authorized a share buyback program on Monday, April 17th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the industrial products company to buy up to 7.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
KALU has been the topic of a number of research analyst reports. Cowen and Company lifted their target price on Kaiser Aluminum Corporation from $90.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, April 19th. Zacks Investment Research upgraded Kaiser Aluminum Corporation from a “sell” rating to a “hold” rating and set a $95.00 target price on the stock in a report on Wednesday, April 26th. BidaskClub upgraded Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Deutsche Bank AG reiterated a “buy” rating on shares of Kaiser Aluminum Corporation in a report on Saturday, June 24th. Finally, Bank of America Corporation lifted their target price on Kaiser Aluminum Corporation from $79.00 to $85.00 and gave the company an “underperform” rating in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Kaiser Aluminum Corporation currently has a consensus rating of “Buy” and a consensus target price of $96.00.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC purchased a new position in Kaiser Aluminum Corporation during the first quarter worth $112,000. First Mercantile Trust Co. raised its position in Kaiser Aluminum Corporation by 1.4% in the second quarter. First Mercantile Trust Co. now owns 1,430 shares of the industrial products company’s stock worth $127,000 after buying an additional 20 shares in the last quarter. SG Americas Securities LLC purchased a new position in Kaiser Aluminum Corporation during the first quarter worth $119,000. Ameritas Investment Partners Inc. purchased a new position in Kaiser Aluminum Corporation during the first quarter worth $122,000. Finally, KBC Group NV purchased a new position in Kaiser Aluminum Corporation during the second quarter worth $188,000. 98.17% of the stock is owned by hedge funds and other institutional investors.
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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