PNC Financial Services Group Inc. Sells 938 Shares of Kaiser Aluminum Co. (NASDAQ:KALU)

PNC Financial Services Group Inc. cut its stake in shares of Kaiser Aluminum Co. (NASDAQ:KALUFree Report) by 11.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,232 shares of the industrial products company’s stock after selling 938 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kaiser Aluminum were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in KALU. Norges Bank bought a new stake in shares of Kaiser Aluminum during the 4th quarter valued at approximately $7,415,000. Victory Capital Management Inc. grew its holdings in Kaiser Aluminum by 5.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,318,145 shares of the industrial products company’s stock worth $93,839,000 after acquiring an additional 68,987 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in Kaiser Aluminum by 105.5% during the 3rd quarter. First Eagle Investment Management LLC now owns 113,312 shares of the industrial products company’s stock worth $8,528,000 after acquiring an additional 58,171 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Kaiser Aluminum during the 4th quarter worth approximately $1,136,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Kaiser Aluminum by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 272,900 shares of the industrial products company’s stock worth $19,428,000 after acquiring an additional 13,593 shares during the last quarter. 99.29% of the stock is owned by institutional investors.

Kaiser Aluminum Trading Down 1.7 %

NASDAQ:KALU opened at $97.80 on Monday. The firm’s fifty day moving average is $93.65 and its 200-day moving average is $76.43. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.43 and a current ratio of 2.66. Kaiser Aluminum Co. has a 52 week low of $53.67 and a 52 week high of $102.42. The firm has a market cap of $1.57 billion, a P/E ratio of 28.43 and a beta of 1.37.

Kaiser Aluminum (NASDAQ:KALUGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.44. Kaiser Aluminum had a net margin of 1.85% and a return on equity of 8.40%. The company had revenue of $738.00 million for the quarter, compared to analyst estimates of $733.34 million. During the same period in the prior year, the firm posted $0.99 EPS. The company’s quarterly revenue was down 8.7% on a year-over-year basis. Equities analysts expect that Kaiser Aluminum Co. will post 4.12 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Thursday, April 25th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Wednesday, April 24th. Kaiser Aluminum’s dividend payout ratio is currently 89.53%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KALU. Benchmark reissued a “buy” rating and set a $84.00 target price on shares of Kaiser Aluminum in a report on Friday, April 19th. JPMorgan Chase & Co. boosted their target price on shares of Kaiser Aluminum from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $77.00.

View Our Latest Stock Report on KALU

Kaiser Aluminum Company Profile

(Free Report)

Kaiser Aluminum Corporation, together with its subsidiaries, engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. It offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.

See Also

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

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