UBS Asset Management Americas Inc. continued to hold its stake in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) during the second quarter, Holdings Channel reports. The fund owned 12,667 shares of the company’s stock at the end of the second quarter. UBS Asset Management Americas Inc. owned approximately 0.07% of Kaiser Aluminum Corp. worth $1,145,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of KALU. BNP Paribas Arbitrage SA increased its stake in shares of Kaiser Aluminum Corp. by 115.5% in the second quarter. BNP Paribas Arbitrage SA now owns 6,694 shares of the company’s stock worth $605,000 after buying an additional 3,588 shares during the period. State Street Corp increased its stake in Kaiser Aluminum Corp. by 23.9% in the first quarter. State Street Corp now owns 618,212 shares of the company’s stock worth $52,262,000 after buying an additional 119,108 shares during the last quarter. Renaissance Technologies LLC increased its stake in Kaiser Aluminum Corp. by 13.2% in the first quarter. Renaissance Technologies LLC now owns 392,900 shares of the company’s stock worth $33,216,000 after buying an additional 45,700 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Kaiser Aluminum Corp. by 14.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 529,176 shares of the company’s stock worth $44,737,000 after buying an additional 65,729 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Kaiser Aluminum Corp. by 182.4% in the first quarter. JPMorgan Chase & Co. now owns 56,708 shares of the company’s stock worth $4,794,000 after buying an additional 36,624 shares during the last quarter. Hedge funds and other institutional investors own 98.64% of the company’s stock.
Shares of Kaiser Aluminum Corp. (NASDAQ:KALU) opened at 81.29 on Monday. The firm has a 50-day moving average price of $84.73 and a 200 day moving average price of $86.38. The company has a market cap of $1.45 billion, a P/E ratio of 16.43 and a beta of 0.47. Kaiser Aluminum Corp. has a 12 month low of $70.14 and a 12 month high of $96.06.
Kaiser Aluminum Corp. (NASDAQ:KALU) last released its earnings results on Wednesday, July 20th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by $0.36. Kaiser Aluminum Corp. had a return on equity of 9.70% and a net margin of 6.59%. The business had revenue of $335 million for the quarter, compared to analysts’ expectations of $351.72 million. During the same quarter in the prior year, the business posted $1.27 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. Equities analysts predict that Kaiser Aluminum Corp. will post $5.23 earnings per share for the current year.
The firm also recently announced a dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, October 25th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, October 21st. Kaiser Aluminum Corp.’s dividend payout ratio is currently 37.42%.
KALU has been the subject of a number of recent research reports. Bank of America Corp. downgraded Kaiser Aluminum Corp. from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $94.00 to $92.00 in a research report on Wednesday, July 20th. Credit Suisse Group AG set a $85.00 target price on Kaiser Aluminum Corp. and gave the stock a “hold” rating in a research report on Wednesday, July 20th. Macquarie initiated coverage on Kaiser Aluminum Corp. in a research report on Tuesday, September 6th. They issued an “outperform” rating for the company. Seaport Global Securities initiated coverage on Kaiser Aluminum Corp. in a research report on Friday, September 9th. They issued a “buy” rating and a $100.00 target price for the company. Finally, Zacks Investment Research downgraded Kaiser Aluminum Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Kaiser Aluminum Corp. presently has a consensus rating of “Hold” and an average price target of $91.71.
About Kaiser Aluminum Corp.
Kaiser Aluminum Corporation is engaged in the production of semi-fabricated specialty aluminum products. The Company manufactures aluminum plate and sheet, and extruded and drawn products, primarily used in aerospace/high strength, automotive, general engineering and other industrial end market applications.
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