Kaiser Aluminum Corp. (KALU) Shares Bought by OppenheimerFunds Inc.
OppenheimerFunds Inc. raised its position in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 270,587 shares of the industrial products company’s stock after purchasing an additional 6,953 shares during the quarter. OppenheimerFunds Inc. owned 1.63% of Kaiser Aluminum worth $28,172,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Koch Industries Inc. purchased a new stake in Kaiser Aluminum during the 1st quarter valued at about $209,000. O Shaughnessy Asset Management LLC grew its stake in Kaiser Aluminum by 47.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,613 shares of the industrial products company’s stock valued at $264,000 after purchasing an additional 838 shares during the last quarter. Jane Street Group LLC purchased a new stake in Kaiser Aluminum during the 1st quarter valued at about $268,000. GAM Holding AG purchased a new stake in Kaiser Aluminum during the 2nd quarter valued at about $284,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Kaiser Aluminum during the 2nd quarter valued at about $369,000. Institutional investors and hedge funds own 99.81% of the company’s stock.
Several brokerages have recently issued reports on KALU. BidaskClub raised Kaiser Aluminum from a “hold” rating to a “buy” rating in a report on Tuesday, May 22nd. Zacks Investment Research raised Kaiser Aluminum from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Saturday, July 28th. Morgan Stanley boosted their price objective on Kaiser Aluminum from $101.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, August 1st. Jefferies Financial Group began coverage on Kaiser Aluminum in a report on Monday, July 16th. They issued a “hold” rating and a $122.00 price objective for the company. Finally, ValuEngine cut Kaiser Aluminum from a “buy” rating to a “hold” rating in a report on Thursday, June 28th. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Kaiser Aluminum currently has a consensus rating of “Hold” and a consensus target price of $107.63.
Shares of KALU stock opened at $107.61 on Friday. The stock has a market capitalization of $1.74 billion, a PE ratio of 19.43, a P/E/G ratio of 1.07 and a beta of 0.70. The company has a quick ratio of 2.72, a current ratio of 3.63 and a debt-to-equity ratio of 0.49. Kaiser Aluminum Corp. has a 52-week low of $90.93 and a 52-week high of $119.66.
Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings results on Monday, July 23rd. The industrial products company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.10. The company had revenue of $415.00 million during the quarter, compared to analysts’ expectations of $398.95 million. Kaiser Aluminum had a return on equity of 12.03% and a net margin of 3.43%. Kaiser Aluminum’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.47 EPS. equities research analysts expect that Kaiser Aluminum Corp. will post 6.52 earnings per share for the current fiscal year.
Kaiser Aluminum Profile
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.
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