Louisiana State Employees Retirement System acquired a new position in Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,100 shares of the industrial products company's stock, valued at approximately $856,000.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Kaiser Aluminum by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 2,117,791 shares of the industrial products company's stock worth $243,249,000 after buying an additional 5,823 shares in the last quarter. State Street Corp boosted its stake in shares of Kaiser Aluminum by 31.9% in the 2nd quarter. State Street Corp now owns 1,154,415 shares of the industrial products company's stock valued at $92,238,000 after purchasing an additional 279,231 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Kaiser Aluminum by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 831,652 shares of the industrial products company's stock valued at $95,528,000 after purchasing an additional 13,909 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Kaiser Aluminum by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 502,446 shares of the industrial products company's stock valued at $38,769,000 after purchasing an additional 5,623 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Kaiser Aluminum by 16.8% in the 4th quarter. Bank of New York Mellon Corp now owns 198,354 shares of the industrial products company's stock worth $22,783,000 after purchasing an additional 28,495 shares during the period. 99.29% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Kaiser Aluminum
In related news, CEO Keith Harvey sold 3,031 shares of the firm's stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $173.13, for a total value of $524,757.03. Following the completion of the sale, the chief executive officer owned 94,308 shares of the company's stock, valued at $16,327,544.04. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Iulian Gheorghe sold 175 shares of the firm's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $174.22, for a total value of $30,488.50. Following the completion of the sale, the senior vice president directly owned 4,448 shares of the company's stock, valued at $774,930.56. The trade was a 3.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 71,731 shares of company stock worth $12,529,097. Corporate insiders own 1.30% of the company's stock.
Kaiser Aluminum Price Performance
KALU stock opened at $176.27 on Monday. The firm's 50-day moving average price is $179.22 and its two-hundred day moving average price is $145.89. Kaiser Aluminum Corporation has a 12-month low of $71.44 and a 12-month high of $195.96. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 19.20 and a beta of 1.59. The company has a current ratio of 2.47, a quick ratio of 1.14 and a debt-to-equity ratio of 1.28.
Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported $3.74 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $1.78. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $948.50 million. Kaiser Aluminum had a net margin of 4.14% and a return on equity of 17.00%. Kaiser Aluminum's revenue for the quarter was up 42.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. As a group, equities analysts predict that Kaiser Aluminum Corporation will post 8.69 earnings per share for the current year.
Kaiser Aluminum Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, April 24th were issued a $0.77 dividend. The ex-dividend date was Friday, April 24th. This represents a $3.08 annualized dividend and a yield of 1.7%. Kaiser Aluminum's dividend payout ratio (DPR) is 33.55%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. Weiss Ratings upgraded shares of Kaiser Aluminum from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, April 24th. UBS Group assumed coverage on Kaiser Aluminum in a research note on Tuesday, May 5th. They issued a "neutral" rating and a $176.00 target price for the company. Wells Fargo & Company increased their target price on Kaiser Aluminum from $125.00 to $137.00 and gave the company an "equal weight" rating in a report on Wednesday, April 15th. Zacks Research lowered Kaiser Aluminum from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Finally, Wall Street Zen raised Kaiser Aluminum from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 18th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $159.50.
Check Out Our Latest Stock Analysis on KALU
About Kaiser Aluminum
(
Free Report)
Kaiser Aluminum Corporation is a U.S.-based producer of semi‐fabricated aluminum products, serving a diverse range of industrial and specialty markets. The company's offerings include extruded, rolled, and forged aluminum products designed to meet stringent performance requirements in sectors such as aerospace, automotive, defense, electronics, and general engineering. By focusing on high‐value applications, Kaiser Aluminum aims to deliver lightweight, durable solutions that contribute to efficiency and innovation across its customer base.
Operationally, Kaiser Aluminum maintains a network of smelters, extrusion plants, and rolling mills located primarily in North America.
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