ProShare Advisors LLC Sells 16,164 Shares of Kaiser Aluminum Co. (NASDAQ:KALU)

ProShare Advisors LLC lowered its position in Kaiser Aluminum Co. (NASDAQ:KALU) by 15.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 87,972 shares of the industrial products company’s stock after selling 16,164 shares during the period. ProShare Advisors LLC owned 0.55% of Kaiser Aluminum worth $7,733,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Kaiser Aluminum by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,894,114 shares of the industrial products company’s stock worth $169,258,000 after acquiring an additional 6,363 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Kaiser Aluminum by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 826,985 shares of the industrial products company’s stock worth $72,692,000 after acquiring an additional 8,830 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Kaiser Aluminum by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 760,500 shares of the industrial products company’s stock valued at $66,846,000 after purchasing an additional 16,148 shares in the last quarter. Tributary Capital Management LLC lifted its holdings in shares of Kaiser Aluminum by 0.3% in the second quarter. Tributary Capital Management LLC now owns 271,976 shares of the industrial products company’s stock valued at $23,907,000 after purchasing an additional 856 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Kaiser Aluminum by 358.0% in the second quarter. American Century Companies Inc. now owns 250,809 shares of the industrial products company’s stock valued at $22,046,000 after purchasing an additional 196,045 shares in the last quarter. Institutional investors own 99.29% of the company’s stock.

Kaiser Aluminum Stock Up 1.7 %

KALU stock opened at $71.85 on Wednesday. Kaiser Aluminum Co. has a twelve month low of $53.67 and a twelve month high of $102.42. The company has a quick ratio of 1.42, a current ratio of 2.55 and a debt-to-equity ratio of 1.57. The stock’s 50 day moving average is $74.09 and its 200-day moving average is $85.01. The firm has a market capitalization of $1.15 billion, a PE ratio of 20.89 and a beta of 1.33.

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

Kaiser Aluminum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 25th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Thursday, July 25th. Kaiser Aluminum’s payout ratio is 89.53%.

Insider Activity at Kaiser Aluminum

In other Kaiser Aluminum news, CEO Keith Harvey purchased 2,588 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was bought at an average cost of $77.23 per share, with a total value of $199,871.24. Following the completion of the transaction, the chief executive officer now owns 103,550 shares of the company’s stock, valued at approximately $7,997,166.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Kaiser Aluminum Company Profile

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.