Kaiser Aluminum Corporation (NASDAQ:KALU) had its price objective upped by Bank of America Corporation from $79.00 to $85.00 in a research report issued to clients and investors on Friday, July 21st. The firm presently has an “underperform” rating on the industrial products company’s stock. Bank of America Corporation’s price objective points to a potential downside of 10.26% from the company’s previous close.
A number of other equities analysts have also commented on KALU. Cowen and Company raised their price target on Kaiser Aluminum Corporation from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, April 19th. Zacks Investment Research raised Kaiser Aluminum Corporation from a “sell” rating to a “hold” rating and set a $95.00 price target for the company in a report on Wednesday, April 26th. BidaskClub raised Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Kaiser Aluminum Corporation in a research report on Saturday, June 24th. One research analyst has 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 company has a consensus rating of “Hold” and a consensus target price of $96.13.
Shares of Kaiser Aluminum Corporation (KALU) traded up 0.79% on Friday, hitting $94.72. The stock had a trading volume of 141,202 shares. The company has a 50-day moving average of $94.05 and a 200 day moving average of $84.53. Kaiser Aluminum Corporation has a 52 week low of $69.41 and a 52 week high of $98.72. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 20.80 and a beta of 0.54.
Kaiser Aluminum Corporation (NASDAQ:KALU) last announced its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.46. Kaiser Aluminum Corporation had a return on equity of 11.71% and a net margin of 5.87%. The business had revenue of $356 million during the quarter, compared to analyst estimates of $349.62 million. During the same period in the prior year, the company earned $1.02 earnings per share. Kaiser Aluminum Corporation’s revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts predict that Kaiser Aluminum Corporation will post $5.47 EPS for the current year.
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In other news, CEO Jack A. Hockema sold 9,000 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $91.18, for a total transaction of $820,620.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Mark Krouse sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $96.50, for a total value of $144,750.00. The disclosure for this sale can be found here. Insiders have sold 18,714 shares of company stock worth $1,748,706 over the last ninety days. Insiders own 3.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Kaiser Aluminum Corporation by 12,449.4% in the first quarter. BlackRock Inc. now owns 2,174,693 shares of the industrial products company’s stock valued at $173,757,000 after buying an additional 2,157,364 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Kaiser Aluminum Corporation by 36,359.9% in the first quarter. Victory Capital Management Inc. now owns 498,407 shares of the industrial products company’s stock valued at $39,823,000 after buying an additional 497,040 shares during the last quarter. Norges Bank acquired a new stake in Kaiser Aluminum Corporation during the fourth quarter valued at about $21,690,000. FMR LLC boosted its stake in Kaiser Aluminum Corporation by 136.8% in the second quarter. FMR LLC now owns 205,561 shares of the industrial products company’s stock valued at $18,196,000 after buying an additional 118,741 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in Kaiser Aluminum Corporation by 30.9% in the second quarter. Macquarie Group Ltd. now owns 418,863 shares of the industrial products company’s stock valued at $37,078,000 after buying an additional 98,855 shares during the last quarter. 99.19% of the stock is currently owned by institutional investors.
About Kaiser Aluminum Corporation
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The Company operates in the Fabricated Products segment. The Company’s Fabricated Products segment focuses on producing rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive and general engineering products that include consumer durables, electronics, electrical and machinery and equipment applications.
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