Janney Montgomery Scott LLC Has $360,000 Holdings in Kaiser Aluminum Corporation $KALU

Key Points

• Janney Montgomery Scott LLC reduced its holdings in Kaiser Aluminum Corporation by 59.5%, now owning 4,502 shares worth $360,000 after selling 6,610 shares in the second quarter.
• Several other large investors increased their stakes significantly in Kaiser Aluminum, with increases ranging from 50.6% to 385.7% in the first quarter.
• JPMorgan Chase & Co. raised its target price for Kaiser Aluminum from $64.00 to $82.00, while the company currently holds a consensus rating of "Hold" with a target price of $82.00.

Janney Montgomery Scott LLC cut its holdings in shares of Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) by 59.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,502 shares of the industrial products company's stock after selling 6,610 shares during the quarter. Janney Montgomery Scott LLC's holdings in Kaiser Aluminum were worth $360,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. McIlrath & Eck LLC raised its stake in shares of Kaiser Aluminum by 50.6% in the first quarter. McIlrath & Eck LLC now owns 2,598 shares of the industrial products company's stock valued at $157,000 after purchasing an additional 873 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Kaiser Aluminum by 385.7% in the first quarter. AlphaQuest LLC now owns 3,162 shares of the industrial products company's stock valued at $192,000 after purchasing an additional 2,511 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of Kaiser Aluminum by 128.5% in the first quarter. Headlands Technologies LLC now owns 3,338 shares of the industrial products company's stock valued at $202,000 after purchasing an additional 1,877 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Kaiser Aluminum in the first quarter valued at $247,000. Finally, Avidian Wealth Enterprises LLC raised its stake in shares of Kaiser Aluminum by 15.8% in the first quarter. Avidian Wealth Enterprises LLC now owns 4,118 shares of the industrial products company's stock valued at $250,000 after purchasing an additional 561 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on KALU. JPMorgan Chase & Co. upped their target price on Kaiser Aluminum from $64.00 to $82.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Weiss Ratings restated a "hold (c+)" rating on shares of Kaiser Aluminum in a research note on Wednesday, October 8th. Wall Street Zen upgraded Kaiser Aluminum from a "hold" rating to a "buy" rating in a research note on Tuesday, September 2nd. Wells Fargo & Company started coverage on Kaiser Aluminum in a research note on Wednesday, October 8th. They set an "overweight" rating and a $90.00 price objective for the company. Finally, Zacks Research lowered Kaiser Aluminum from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Kaiser Aluminum presently has a consensus rating of "Hold" and a consensus price target of $82.00.

Kaiser Aluminum Price Performance

Shares of KALU stock opened at $78.07 on Friday. The stock's fifty day moving average is $77.02 and its 200-day moving average is $74.16. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.30 and a current ratio of 2.70. The stock has a market capitalization of $1.26 billion, a PE ratio of 20.07 and a beta of 1.49. Kaiser Aluminum Corporation has a 52 week low of $46.81 and a 52 week high of $97.00.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last announced its earnings results on Wednesday, April 2nd. The industrial products company reported $1.21 EPS for the quarter. The company had revenue of $765.40 million for the quarter. Kaiser Aluminum had a return on equity of 8.03% and a net margin of 2.05%. Equities research analysts expect that Kaiser Aluminum Corporation will post 5.14 EPS for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 24th will be issued a $0.77 dividend. The ex-dividend date is Friday, October 24th. This represents a $3.08 annualized dividend and a yield of 3.9%. Kaiser Aluminum's dividend payout ratio (DPR) is currently 79.18%.

About Kaiser Aluminum

Kaiser Aluminum Corporation, together with its subsidiaries, engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. It 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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