First Citizens Bank & Trust Co. reduced its position in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) by 45.3% during the second quarter, Holdings Channel reports. The institutional investor owned 4,441 shares of the company’s stock after selling 3,684 shares during the period. First Citizens Bank & Trust Co.’s holdings in Kaiser Aluminum Corp. were worth $402,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kempen Capital Management N.V. boosted its position in Kaiser Aluminum Corp. by 46.1% in the first quarter. Kempen Capital Management N.V. now owns 2,978 shares of the company’s stock worth $252,000 after buying an additional 940 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Kaiser Aluminum Corp. during the first quarter worth approximately $314,000. Old Mutual Global Investors UK Ltd. acquired a new position in Kaiser Aluminum Corp. during the second quarter worth approximately $317,000. NN Investment Partners Holdings N.V. acquired a new position in Kaiser Aluminum Corp. during the first quarter worth approximately $321,000. Finally, Adams Diversified Equity Fund Inc. acquired a new position in Kaiser Aluminum Corp. during the second quarter worth approximately $371,000. Hedge funds and other institutional investors own 98.64% of the company’s stock.
Kaiser Aluminum Corp. (NASDAQ:KALU) traded up 0.78% during mid-day trading on Monday, hitting $80.98. The stock had a trading volume of 116,008 shares. Kaiser Aluminum Corp. has a one year low of $70.14 and a one year high of $96.06. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 16.37 and a beta of 0.47. The company has a 50 day moving average price of $84.73 and a 200-day moving average price of $86.38.
Kaiser Aluminum Corp. (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $1.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.38 by $0.36. Kaiser Aluminum Corp. had a return on equity of 9.70% and a net margin of 6.59%. The business had revenue of $335 million for the quarter, compared to analysts’ expectations of $351.72 million. During the same period last year, the business earned $1.27 earnings per share. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities analysts expect that Kaiser Aluminum Corp. will post $5.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, October 25th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, October 21st. This represents a $1.80 annualized dividend and a yield of 2.22%. Kaiser Aluminum Corp.’s payout ratio is currently 37.42%.
A number of research firms recently commented on KALU. Zacks Investment Research cut Kaiser Aluminum Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 18th. Macquarie initiated coverage on Kaiser Aluminum Corp. in a report on Tuesday, September 6th. They issued an “outperform” rating on the stock. Bank of America Corp. cut Kaiser Aluminum Corp. from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $94.00 to $92.00 in a research note on Wednesday, July 20th. Seaport Global Securities initiated coverage on Kaiser Aluminum Corp. in a research note on Friday, September 9th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Credit Suisse Group AG set a $85.00 price target on Kaiser Aluminum Corp. and gave the stock a “hold” rating in a research note on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $91.71.
Kaiser Aluminum Corp. Company Profile
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.