Kaiser Aluminum Corporation $KALU Stake Cut by Bank of Montreal Can

Bank of Montreal Can lessened its holdings in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) by 5.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,731 shares of the industrial products company’s stock after selling 742 shares during the quarter. Bank of Montreal Can owned approximately 0.07% of Kaiser Aluminum worth $937,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. CWM LLC grew its position in Kaiser Aluminum by 136.3% during the second quarter. CWM LLC now owns 1,616 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 932 shares in the last quarter. McIlrath & Eck LLC increased its stake in shares of Kaiser Aluminum by 50.6% in the first quarter. McIlrath & Eck LLC now owns 2,598 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 873 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of Kaiser Aluminum by 385.7% during the first quarter. AlphaQuest LLC now owns 3,162 shares of the industrial products company’s stock worth $192,000 after acquiring an additional 2,511 shares in the last quarter. Headlands Technologies LLC boosted its position in Kaiser Aluminum by 128.5% during the first quarter. Headlands Technologies LLC now owns 3,338 shares of the industrial products company’s stock valued at $202,000 after purchasing an additional 1,877 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Kaiser Aluminum in the first quarter valued at about $247,000. 99.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Kaiser Aluminum news, EVP Blain Tiffany sold 8,656 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $93.92, for a total value of $812,971.52. Following the completion of the sale, the executive vice president directly owned 26,275 shares of the company’s stock, valued at $2,467,748. This represents a 24.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by insiders.

Kaiser Aluminum Price Performance

NASDAQ KALU opened at $91.22 on Friday. The stock has a 50-day simple moving average of $82.75 and a 200 day simple moving average of $79.23. Kaiser Aluminum Corporation has a twelve month low of $46.81 and a twelve month high of $97.63. The stock has a market capitalization of $1.48 billion, a PE ratio of 16.50 and a beta of 1.58. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.08 and a current ratio of 2.48.

Kaiser Aluminum (NASDAQ:KALU) last released its earnings results on Wednesday, April 2nd. The industrial products company reported $1.21 earnings per share (EPS) for the quarter. Kaiser Aluminum had a return on equity of 10.67% and a net margin of 2.85%.The firm had revenue of $765.40 million for the quarter. Research analysts anticipate that Kaiser Aluminum Corporation will post 5.14 EPS for the current year.

Kaiser Aluminum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 24th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, October 24th. This represents a $3.08 dividend on an annualized basis and a yield of 3.4%. Kaiser Aluminum’s payout ratio is 55.70%.

Analysts Set New Price Targets

KALU has been the subject of a number of recent research reports. Wall Street Zen raised Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. Zacks Research upgraded shares of Kaiser Aluminum from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Kaiser Aluminum from $82.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Wells Fargo & Company lifted their price objective on shares of Kaiser Aluminum from $90.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Finally, Weiss Ratings raised shares of Kaiser Aluminum from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.67.

About Kaiser Aluminum

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.