Nuveen Asset Management LLC Has $6.35 Million Stock Holdings in Kaiser Aluminum Co. (NASDAQ:KALU)

Nuveen Asset Management LLC trimmed its stake in shares of Kaiser Aluminum Co. (NASDAQ:KALU – Get Rating) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,463 shares of the industrial products company’s stock after selling 892 shares during the quarter. Nuveen Asset Management LLC’s holdings in Kaiser Aluminum were worth $6,348,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in KALU. Point72 Hong Kong Ltd acquired a new position in Kaiser Aluminum during the 2nd quarter worth approximately $80,000. Captrust Financial Advisors increased its position in Kaiser Aluminum by 76.1% in the 1st quarter. Captrust Financial Advisors now owns 1,016 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 439 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Kaiser Aluminum by 57.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,578 shares of the industrial products company’s stock valued at $158,000 after acquiring an additional 940 shares during the period. Heritage Wealth Management LLC acquired a new position in Kaiser Aluminum in the 2nd quarter valued at approximately $233,000. Finally, Assenagon Asset Management S.A. acquired a new position in Kaiser Aluminum in the 3rd quarter valued at approximately $236,000. 99.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KALU has been the subject of several recent research reports. StockNews.com cut shares of Kaiser Aluminum from a “hold” rating to a “sell” rating in a research report on Thursday, February 23rd. Wolfe Research initiated coverage on shares of Kaiser Aluminum in a research report on Thursday, December 15th. They issued a “peer perform” rating for the company. Finally, The Goldman Sachs Group decreased their price target on shares of Kaiser Aluminum from $80.00 to $70.00 and set a “sell” rating for the company in a research report on Monday, February 27th.

Insider Activity

In other news, CFO Neal E. West sold 400 shares of the company’s stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $84.47, for a total value of $33,788.00. Following the sale, the chief financial officer now directly owns 580 shares of the company’s stock, valued at approximately $48,992.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Kaiser Aluminum Trading Down 5.7 %

NASDAQ:KALU opened at $71.28 on Monday. The firm’s fifty day moving average is $84.51 and its 200-day moving average is $79.93. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.24 and a current ratio of 2.49. Kaiser Aluminum Co. has a 52 week low of $59.24 and a 52 week high of $107.41. The firm has a market cap of $1.14 billion, a P/E ratio of -38.32 and a beta of 1.29.

Kaiser Aluminum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Wednesday, January 25th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Tuesday, January 24th. Kaiser Aluminum’s dividend payout ratio is currently -165.59%.

Kaiser Aluminum Company Profile

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Kaiser Aluminum Corp. engages in the manufacture and sale of semi-fabricated specialty aluminum products. The firm caters to the aerospace, general engineering, automotive, and custom industrial applications industries. Its products include plate, sheet, coil, hard alloy shapes, soft alloy extrusions, seamless and structural extruded, drawn tube, hard alloy rod, bar, wire and forge stock.