State of New Jersey Common Pension Fund D cut its holdings in Kaiser Aluminum Co. (NASDAQ:KALU – Get Rating) by 11.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 24,701 shares of the industrial products company’s stock after selling 3,193 shares during the period. State of New Jersey Common Pension Fund D owned about 0.16% of Kaiser Aluminum worth $2,326,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the business. First Horizon Advisors Inc. lifted its position in Kaiser Aluminum by 209.7% in the 4th quarter. First Horizon Advisors Inc. now owns 480 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 325 shares during the last quarter. UMB Bank N A MO bought a new stake in Kaiser Aluminum in the 4th quarter valued at about $51,000. Point72 Hong Kong Ltd lifted its position in Kaiser Aluminum by 38.8% in the 4th quarter. Point72 Hong Kong Ltd now owns 648 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 181 shares during the last quarter. Pinebridge Investments L.P. bought a new stake in Kaiser Aluminum in the 4th quarter valued at about $75,000. Finally, Everence Capital Management Inc. bought a new stake in Kaiser Aluminum in the 1st quarter valued at about $282,000. 97.69% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Benchmark cut their price objective on shares of Kaiser Aluminum from $120.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $105.00.
Kaiser Aluminum Stock Down 0.3 %
Kaiser Aluminum (NASDAQ:KALU – Get Rating) last released its quarterly earnings results on Monday, July 25th. The industrial products company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.78). Kaiser Aluminum had a positive return on equity of 1.33% and a negative net margin of 0.18%. The company had revenue of $954.20 million for the quarter, compared to the consensus estimate of $889.59 million. During the same quarter last year, the firm posted $1.00 earnings per share. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. On average, analysts forecast that Kaiser Aluminum Co. will post 2.3 earnings per share for the current fiscal year.
Kaiser Aluminum Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, July 25th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, July 22nd. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.25%. Kaiser Aluminum’s payout ratio is currently -789.74%.
Insider Buying and Selling
In related news, CFO Neal E. West sold 400 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $73.52, for a total value of $29,408.00. Following the sale, the chief financial officer now directly owns 2,980 shares in the company, valued at approximately $219,089.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Brant Weaver sold 282 shares of Kaiser Aluminum stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $102.15, for a total value of $28,806.30. Following the transaction, the vice president now directly owns 5,811 shares of the company’s stock, valued at $593,593.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Neal E. West sold 400 shares of Kaiser Aluminum stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $73.52, for a total transaction of $29,408.00. Following the completion of the transaction, the chief financial officer now directly owns 2,980 shares in the company, valued at $219,089.60. The disclosure for this sale can be found here. Insiders have sold 2,392 shares of company stock worth $230,525 in the last ninety days. 1.20% of the stock is currently owned by corporate insiders.
Kaiser Aluminum Company Profile
Kaiser Aluminum Corporation engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. The company offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.
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