Kaiser Aluminum Co. (NASDAQ:KALU) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in Kaiser Aluminum Co. (NASDAQ:KALU) by 11.5% in the fourth quarter, HoldingsChannel.com reports. The firm 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 SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Harvest Investment Advisors LLC boosted its holdings in Kaiser Aluminum by 1.6% in the fourth quarter. Harvest Investment Advisors LLC now owns 17,489 shares of the industrial products company’s stock valued at $1,245,000 after purchasing an additional 280 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in Kaiser Aluminum by 11.3% in the fourth quarter. New York State Teachers Retirement System now owns 4,927 shares of the industrial products company’s stock valued at $351,000 after purchasing an additional 500 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Kaiser Aluminum in the fourth quarter valued at approximately $51,000. Headlands Technologies LLC boosted its holdings in Kaiser Aluminum by 131.8% in the fourth quarter. Headlands Technologies LLC now owns 1,544 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 878 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Kaiser Aluminum by 27.8% in the third quarter. Deutsche Bank AG now owns 8,650 shares of the industrial products company’s stock valued at $651,000 after purchasing an additional 1,881 shares in the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on KALU. JPMorgan Chase & Co. increased their price objective on Kaiser Aluminum from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Benchmark reissued a “buy” rating and issued a $84.00 price objective on shares of Kaiser Aluminum in a report on Friday, April 19th.

Kaiser Aluminum Price Performance

Kaiser Aluminum stock opened at $85.94 on Friday. Kaiser Aluminum Co. has a 12 month low of $53.67 and a 12 month high of $102.42. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.66 and a quick ratio of 1.43. The business has a 50 day simple moving average of $93.72 and a 200-day simple moving average of $80.25. The stock has a market capitalization of $1.38 billion, a PE ratio of 24.98 and a beta of 1.37.

Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.58 by $0.44. Kaiser Aluminum had a return on equity of 8.40% and a net margin of 1.85%. The business had revenue of $738.00 million during the quarter, compared to analysts’ expectations of $733.34 million. During the same quarter in the prior year, the business earned $0.99 earnings per share. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. Equities analysts predict that Kaiser Aluminum Co. will post 4.12 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, April 25th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.58%. The ex-dividend date was Wednesday, April 24th. Kaiser Aluminum’s payout ratio is 89.53%.

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.