Kaiser Aluminum Co. (NASDAQ:KALU – Get Rating)'s share price traded down 4.7% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $77.27 and last traded at $77.27. 1,840 shares changed hands during trading, a decline of 99% from the average session volume of 137,645 shares. The stock had previously closed at $81.04.
Specifically, CFO Neal E. West sold 400 shares of Kaiser Aluminum stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $73.38, for a total value of $29,352.00. Following the sale, the chief financial officer now directly owns 2,580 shares in the company, valued at $189,320.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 1,200 shares of company stock worth $90,088 over the last three months. 1.20% of the stock is currently owned by corporate insiders.
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Analyst Upgrades and Downgrades
KALU has been the subject of several research reports. Benchmark reduced their price objective on Kaiser Aluminum from $120.00 to $105.00 and set an "outperform" rating for the company in a report on Wednesday, July 27th. StockNews.com cut Kaiser Aluminum from a "hold" rating to a "sell" rating in a report on Monday, August 8th.
Kaiser Aluminum Stock Down 4.3 %
The stock has a fifty day moving average price of $74.87 and a two-hundred day moving average price of $86.36. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.28 and a quick ratio of 1.42.
Kaiser Aluminum (NASDAQ:KALU – Get Rating) last released its quarterly earnings results on Monday, July 25th. The industrial products company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.78). Kaiser Aluminum had a positive return on equity of 1.33% and a negative net margin of 0.18%. The company had revenue of $954.20 million during the quarter, compared to analyst estimates of $889.59 million. During the same period last year, the firm earned $1.00 earnings per share. The business's revenue was up 28.8% compared to the same quarter last year. As a group, research analysts predict that Kaiser Aluminum Co. will post -0.91 earnings per share for the current fiscal year.
Kaiser Aluminum Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Monday, July 25th were issued a $0.77 dividend. The ex-dividend date of this dividend was Friday, July 22nd. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.15%. Kaiser Aluminum's dividend payout ratio (DPR) is -789.74%.
Hedge Funds Weigh In On Kaiser Aluminum
A number of institutional investors have recently made changes to their positions in KALU. Pinebridge Investments L.P. grew its position in shares of Kaiser Aluminum by 278.0% in the second quarter. Pinebridge Investments L.P. now owns 378 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 278 shares during the period. Point72 Hong Kong Ltd grew its position in shares of Kaiser Aluminum by 38.8% in the fourth quarter. Point72 Hong Kong Ltd now owns 648 shares of the industrial products company's stock valued at $61,000 after purchasing an additional 181 shares during the period. Captrust Financial Advisors grew its position in shares of Kaiser Aluminum by 76.1% in the first quarter. Captrust Financial Advisors now owns 1,016 shares of the industrial products company's stock valued at $96,000 after purchasing an additional 439 shares during the period. First Horizon Advisors Inc. grew its position in Kaiser Aluminum by 1,588.3% during the second quarter. First Horizon Advisors Inc. now owns 1,300 shares of the industrial products company's stock valued at $101,000 after acquiring an additional 1,223 shares during the period. Finally, KBC Group NV purchased a new stake in Kaiser Aluminum during the second quarter valued at about $109,000. 99.59% of the stock is owned by institutional investors and hedge funds.
Kaiser Aluminum Company Profile
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Kaiser Aluminum Corporation engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. The company offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.
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