Kaiser Aluminum Corporation $KALU Shares Sold by Summit Global Investments

Summit Global Investments decreased its stake in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) by 51.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,347 shares of the industrial products company’s stock after selling 5,683 shares during the period. Summit Global Investments’ holdings in Kaiser Aluminum were worth $413,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Deprince Race & Zollo Inc. purchased a new stake in shares of Kaiser Aluminum during the 3rd quarter worth about $2,464,000. American Century Companies Inc. raised its stake in shares of Kaiser Aluminum by 7.4% in the 2nd quarter. American Century Companies Inc. now owns 536,208 shares of the industrial products company’s stock valued at $42,843,000 after acquiring an additional 36,894 shares during the period. Envestnet Asset Management Inc. boosted its position in Kaiser Aluminum by 62.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 66,773 shares of the industrial products company’s stock worth $5,335,000 after purchasing an additional 25,546 shares during the period. Hsbc Holdings PLC increased its holdings in Kaiser Aluminum by 175.2% in the 2nd quarter. Hsbc Holdings PLC now owns 16,353 shares of the industrial products company’s stock valued at $1,319,000 after purchasing an additional 10,410 shares in the last quarter. Finally, Bastion Asset Management Inc. acquired a new position in shares of Kaiser Aluminum during the second quarter worth about $2,997,000. 99.29% of the stock is owned by hedge funds and other institutional investors.

Kaiser Aluminum Stock Down 3.4%

Shares of KALU opened at $122.62 on Friday. The company has a quick ratio of 1.08, a current ratio of 2.48 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average price of $115.30 and a two-hundred day moving average price of $93.42. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 22.17 and a beta of 1.44. Kaiser Aluminum Corporation has a 12 month low of $46.81 and a 12 month high of $135.48.

Kaiser Aluminum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 23rd will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, January 23rd. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 55.70%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Kaiser Aluminum from $82.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Wells Fargo & Company set a $120.00 price objective on Kaiser Aluminum and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kaiser Aluminum in a research note on Monday, December 29th. Zacks Research downgraded Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $99.67.

Insider Activity at Kaiser Aluminum

In other Kaiser Aluminum news, EVP Blain Tiffany sold 8,656 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $93.92, for a total value of $812,971.52. Following the transaction, the executive vice president owned 26,275 shares of the company’s stock, valued at approximately $2,467,748. This represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

About Kaiser Aluminum

Kaiser Aluminum Corporation is a U.S.-based producer of semi‐fabricated aluminum products, serving a diverse range of industrial and specialty markets. The company’s offerings include extruded, rolled, and forged aluminum products designed to meet stringent performance requirements in sectors such as aerospace, automotive, defense, electronics, and general engineering. By focusing on high‐value applications, Kaiser Aluminum aims to deliver lightweight, durable solutions that contribute to efficiency and innovation across its customer base.

Operationally, Kaiser Aluminum maintains a network of smelters, extrusion plants, and rolling mills located primarily in North America.