Kaiser Aluminum Corporation $KALU Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. lessened its holdings in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,600 shares of the industrial products company’s stock after selling 4,800 shares during the period. Hennessy Advisors Inc. owned 0.30% of Kaiser Aluminum worth $7,183,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. State of Wyoming raised its position in Kaiser Aluminum by 12.0% in the third quarter. State of Wyoming now owns 2,493 shares of the industrial products company’s stock worth $361,000 after acquiring an additional 268 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Kaiser Aluminum by 108.8% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 7,100 shares of the industrial products company’s stock worth $1,028,000 after buying an additional 3,700 shares during the last quarter. BOKF NA bought a new position in shares of Kaiser Aluminum in the third quarter valued at $231,000. Signaturefd LLC lifted its position in shares of Kaiser Aluminum by 228.0% during the 3rd quarter. Signaturefd LLC now owns 269 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 187 shares during the last quarter. Finally, Tectonic Advisors LLC acquired a new position in shares of Kaiser Aluminum in the 3rd quarter worth $825,000. Institutional investors and hedge funds own 99.29% of the company’s stock.

Wall Street Analysts Forecast Growth

KALU has been the subject of several analyst reports. Barclays reduced their target price on Kaiser Aluminum from $180.00 to $155.00 and set an “overweight” rating for the company in a report on Monday, October 26th. Wells Fargo & Company dropped their price target on Kaiser Aluminum from $160.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Friday, October 23rd. UBS Group reduced their price objective on shares of Kaiser Aluminum from $184.00 to $158.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Zacks Research lowered shares of Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 25th. Finally, Weiss Ratings cut shares of Kaiser Aluminum from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $141.00.

Kaiser Aluminum Price Performance

KALU opened at $116.28 on Monday. The firm has a market capitalization of $1.90 billion, a P/E ratio of 8.98 and a beta of 1.72. The stock has a fifty day moving average of $148.52 and a 200-day moving average of $152.88. The company has a quick ratio of 1.25, a current ratio of 2.63 and a debt-to-equity ratio of 1.06. Kaiser Aluminum Corporation has a 12-month low of $87.89 and a 12-month high of $199.89.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings results on Wednesday, October 21st. The industrial products company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.48). The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Kaiser Aluminum had a net margin of 4.85% and a return on equity of 23.65%. The business’s quarterly revenue was up 43.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 EPS. Equities analysts forecast that Kaiser Aluminum Corporation will post 12.60 EPS for the current fiscal year.

Kaiser Aluminum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 23rd will be given a dividend of $0.77 per share. The ex-dividend date is Friday, October 23rd. This represents a $3.08 dividend on an annualized basis and a yield of 2.6%. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 23.78%.

Kaiser Aluminum Profile

Kaiser Aluminum Corporation is a producer of semi-fabricated aluminum products used by manufacturers in the aerospace and defense, automotive, industrial, and consumer products markets. The company supplies aluminum materials designed for applications that require strength, light weight, corrosion resistance, and other specialized performance characteristics.

Its product portfolio includes rolled aluminum sheet and plate, extruded products, forged components, and other fabricated aluminum products.