Karp Capital Management Corp Takes Position in Kaiser Aluminum Corp. (KALU)

Karp Capital Management Corp purchased a new position in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) during the first quarter, Holdings Channel reports. The institutional investor purchased 16,496 shares of the industrial products company’s stock, valued at approximately $1,318,000.

Other large investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC purchased a new stake in Kaiser Aluminum Corp. during the first quarter worth $112,000. Pacad Investment Ltd. increased its stake in Kaiser Aluminum Corp. by 35.3% in the fourth quarter. Pacad Investment Ltd. now owns 2,300 shares of the industrial products company’s stock worth $179,000 after buying an additional 600 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in Kaiser Aluminum Corp. during the fourth quarter worth $211,000. ETRADE Capital Management LLC increased its stake in Kaiser Aluminum Corp. by 32.9% in the third quarter. ETRADE Capital Management LLC now owns 3,344 shares of the industrial products company’s stock worth $289,000 after buying an additional 828 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in Kaiser Aluminum Corp. during the fourth quarter worth $291,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

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

Kaiser Aluminum Corp. (KALU) opened at 86.50 on Friday. The stock has a 50 day moving average price of $82.73 and a 200 day moving average price of $80.70. Kaiser Aluminum Corp. has a 12-month low of $69.41 and a 12-month high of $94.65. The stock has a market cap of $1.49 billion, a P/E ratio of 15.24 and a beta of 0.57.

Kaiser Aluminum Corp. (NASDAQ:KALU) last announced its earnings results on Wednesday, April 19th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.40. The firm had revenue of $355.30 million for the quarter, compared to analysts’ expectations of $353.30 million. Kaiser Aluminum Corp. had a net margin of 6.12% and a return on equity of 9.46%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.51 EPS. On average, analysts forecast that Kaiser Aluminum Corp. will post $4.82 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Thursday, April 27th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Tuesday, April 25th. Kaiser Aluminum Corp.’s dividend payout ratio is 45.25%.

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KALU has been the topic of a number of research reports. TheStreet upgraded Kaiser Aluminum Corp. from a “c” rating to a “b-” rating in a research report on Tuesday, February 21st. Sidoti upgraded Kaiser Aluminum Corp. from a “neutral” rating to a “buy” rating and set a $109.00 price target on the stock in a research report on Monday, March 20th. Zacks Investment Research upgraded Kaiser Aluminum Corp. from a “sell” rating to a “hold” rating and set a $95.00 price target on the stock in a research report on Wednesday, April 26th. Finally, Cowen and Company raised their price target on Kaiser Aluminum Corp. from $90.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Kaiser Aluminum Corp. presently has a consensus rating of “Hold” and a consensus price target of $92.14.

In other news, VP Ray Parkinson sold 1,200 shares of the company’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $78.16, for a total transaction of $93,792.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Keith Harvey sold 4,877 shares of the company’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $84.59, for a total transaction of $412,545.43. The disclosure for this sale can be found here. Insiders have sold a total of 10,577 shares of company stock worth $879,187 over the last 90 days. Corporate insiders own 2.80% of the company’s stock.

About Kaiser Aluminum Corp.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:KALU”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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