Kaiser Aluminum Corporation (NASDAQ:KALU) Stake Reduced by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its position in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,000 shares of the industrial products company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Kaiser Aluminum Corporation were worth $620,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Highbridge Capital Management LLC acquired a new stake in Kaiser Aluminum Corporation during the fourth quarter worth approximately $291,000. Norges Bank acquired a new stake in Kaiser Aluminum Corporation during the fourth quarter worth approximately $21,690,000. Los Angeles Capital Management & Equity Research Inc. increased its stake in Kaiser Aluminum Corporation by 12.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 47,456 shares of the industrial products company’s stock worth $3,792,000 after buying an additional 5,074 shares in the last quarter. Keybank National Association OH acquired a new stake in Kaiser Aluminum Corporation during the first quarter worth approximately $1,042,000. Finally, Prudential Financial Inc. increased its stake in Kaiser Aluminum Corporation by 13.0% in the first quarter. Prudential Financial Inc. now owns 35,319 shares of the industrial products company’s stock worth $2,822,000 after buying an additional 4,060 shares in the last quarter. Institutional investors own 99.19% of the company’s stock.

Kaiser Aluminum Corporation (NASDAQ KALU) opened at 94.72 on Friday. The company’s 50-day moving average price is $94.27 and its 200 day moving average price is $84.64. The firm has a market capitalization of $1.60 billion, a PE ratio of 20.80 and a beta of 0.54. Kaiser Aluminum Corporation has a 1-year low of $69.41 and a 1-year high of $98.72.

Kaiser Aluminum Corporation (NASDAQ:KALU) last announced its earnings results 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. The company had revenue of $356 million during the quarter, compared to the consensus estimate of $349.62 million. Kaiser Aluminum Corporation had a return on equity of 11.71% and a net margin of 5.87%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $1.02 earnings per share. On average, equities analysts anticipate that Kaiser Aluminum Corporation will post $5.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Thursday, July 27th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, July 25th. This represents a $2.00 annualized dividend and a dividend yield of 2.11%. Kaiser Aluminum Corporation’s dividend payout ratio is presently 44.44%.

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A number of equities research analysts have commented on KALU shares. BidaskClub upgraded Kaiser Aluminum Corporation from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Deutsche Bank AG set a $100.00 price objective on Kaiser Aluminum Corporation and gave the company a “buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a report on Friday, July 28th. Bank of America Corporation boosted their price objective on Kaiser Aluminum Corporation from $79.00 to $85.00 and gave the company an “underperform” rating in a report on Friday, July 21st. Finally, Cowen and Company downgraded Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $96.00 to $97.00 in a report on Monday, August 7th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Kaiser Aluminum Corporation currently has a consensus rating of “Hold” and an average price target of $96.13.

In related news, Director Carolyn Bartholomew sold 1,000 shares of Kaiser Aluminum Corporation stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $92.00, for a total value of $92,000.00. Following the completion of the transaction, the director now directly owns 14,344 shares in the company, valued at $1,319,648. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Del L. Miller sold 817 shares of Kaiser Aluminum Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $97.07, for a total value of $79,306.19. The disclosure for this sale can be found here. Insiders have sold 18,714 shares of company stock valued at $1,748,706 over the last 90 days. Insiders own 3.00% of the company’s stock.

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.

Institutional Ownership by Quarter for Kaiser Aluminum Corporation (NASDAQ:KALU)

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