Point72 Asia Singapore Pte. Ltd. Sells 563 Shares of Kaiser Aluminum Co. (NASDAQ:KALU)

Point72 Asia Singapore Pte. Ltd. reduced its position in Kaiser Aluminum Co. (NASDAQ:KALU) by 15.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,992 shares of the industrial products company’s stock after selling 563 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Kaiser Aluminum were worth $263,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in KALU. Norges Bank bought a new stake in shares of Kaiser Aluminum in the fourth quarter valued at approximately $7,415,000. Harvest Investment Advisors LLC raised its holdings in Kaiser Aluminum by 1.6% during the 4th quarter. Harvest Investment Advisors LLC now owns 17,489 shares of the industrial products company’s stock valued at $1,245,000 after acquiring an additional 280 shares during the period. Winslow Asset Management Inc. lifted its position in shares of Kaiser Aluminum by 3.1% during the fourth quarter. Winslow Asset Management Inc. now owns 81,788 shares of the industrial products company’s stock worth $5,823,000 after acquiring an additional 2,452 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Kaiser Aluminum by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,887,751 shares of the industrial products company’s stock worth $134,389,000 after acquiring an additional 10,676 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Kaiser Aluminum by 400.0% in the first quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 432 shares in the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Benchmark raised their target price on Kaiser Aluminum from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 12th.

Kaiser Aluminum Stock Performance

NASDAQ KALU opened at $73.12 on Friday. The company’s 50 day simple moving average is $73.08 and its two-hundred day simple moving average is $84.82. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.55 and a quick ratio of 1.42. Kaiser Aluminum Co. has a 1 year low of $53.67 and a 1 year high of $102.42. The stock has a market capitalization of $1.17 billion, a PE ratio of 21.26 and a beta of 1.33.

Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.29). Kaiser Aluminum had a net margin of 1.37% and a return on equity of 6.84%. The business had revenue of $773.40 million during the quarter, compared to analysts’ expectations of $773.89 million. During the same period in the previous year, the business earned $1.26 EPS. The business’s revenue was down 5.0% on a year-over-year basis. Analysts predict that Kaiser Aluminum Co. will post 3.04 earnings per share for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th were paid a $0.77 dividend. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $3.08 dividend on an annualized basis and a yield of 4.21%. Kaiser Aluminum’s dividend payout ratio is presently 89.53%.

Insider Transactions at Kaiser Aluminum

In other news, CEO Keith Harvey purchased 2,588 shares of the stock in a transaction on Monday, July 29th. The shares were acquired at an average price of $77.23 per share, for a total transaction of $199,871.24. Following the completion of the transaction, the chief executive officer now directly owns 103,550 shares of the company’s stock, valued at approximately $7,997,166.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.50% of the company’s stock.

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.