Kaiser Aluminum Co. (NASDAQ:KALU – Get Rating) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 601,200 shares, a decline of 10.2% from the August 15th total of 669,800 shares. Currently, 3.9% of the shares of the stock are short sold. Based on an average trading volume of 167,100 shares, the days-to-cover ratio is presently 3.6 days.
Insiders Place Their Bets
In other news, 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 completion of the transaction, the chief financial officer now owns 2,580 shares in the company, valued at approximately $189,320.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 1,200 shares of company stock valued at $90,088 in the last quarter. 1.20% of the stock is currently owned by insiders.
Get Kaiser Aluminum alerts:Institutional Investors Weigh In On Kaiser Aluminum
Hedge funds have recently added to or reduced their stakes in the business. Pinebridge Investments L.P. increased its position in shares of Kaiser Aluminum by 278.0% during the second quarter. Pinebridge Investments L.P. now owns 378 shares of the industrial products company's stock worth $30,000 after acquiring an additional 278 shares during the period. Point72 Hong Kong Ltd raised its position in Kaiser Aluminum by 38.8% in the 4th 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 in the last quarter. Captrust Financial Advisors boosted its stake in shares of Kaiser Aluminum by 76.1% in the 1st quarter. Captrust Financial Advisors now owns 1,016 shares of the industrial products company's stock valued at $96,000 after buying an additional 439 shares during the period. First Horizon Advisors Inc. grew its position in shares of 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 worth $101,000 after buying an additional 1,223 shares in the last quarter. Finally, KBC Group NV purchased a new stake in shares of Kaiser Aluminum during the second quarter worth approximately $109,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
KALU has been the topic of a number of analyst reports. StockNews.com downgraded Kaiser Aluminum from a "hold" rating to a "sell" rating in a report on Monday, August 8th. Benchmark dropped their price objective on shares of Kaiser Aluminum from $120.00 to $105.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 27th.Kaiser Aluminum Trading Down 4.1 %
NASDAQ:KALU opened at $69.48 on Wednesday. The stock's fifty day moving average is $74.66 and its two-hundred day moving average is $85.79. Kaiser Aluminum has a 52 week low of $66.25 and a 52 week high of $119.31. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.42 and a current ratio of 2.28.
Kaiser Aluminum (NASDAQ:KALU – Get Rating) last posted its earnings results on Monday, July 25th. The industrial products company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.78). The firm had revenue of $954.20 million for the quarter, compared to analyst estimates of $889.59 million. Kaiser Aluminum had a positive return on equity of 1.33% and a negative net margin of 0.18%. Kaiser Aluminum's revenue was up 28.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 EPS. On average, equities research analysts predict that Kaiser Aluminum will post -0.91 EPS for the current year.
Kaiser Aluminum Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Monday, July 25th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Friday, July 22nd. Kaiser Aluminum's dividend payout ratio (DPR) is currently -789.74%.
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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