Kaiser Aluminum Corporation $KALU Stock Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. decreased its position in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) by 8.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,600 shares of the industrial products company’s stock after selling 4,800 shares during the period. Hennessy Advisors Inc.’s holdings in Kaiser Aluminum were worth $7,183,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new stake in shares of Kaiser Aluminum in the 2nd quarter valued at approximately $38,353,000. Bank of America Corp DE lifted its stake in shares of Kaiser Aluminum by 0.9% in the 1st quarter. Bank of America Corp DE now owns 171,369 shares of the industrial products company’s stock valued at $20,652,000 after purchasing an additional 1,508 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Kaiser Aluminum by 32.4% in the first quarter. Principal Financial Group Inc. now owns 101,510 shares of the industrial products company’s stock worth $12,233,000 after purchasing an additional 24,853 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Kaiser Aluminum during the second quarter worth $10,659,000. Finally, Empowered Funds LLC increased its position in Kaiser Aluminum by 3.8% during the first quarter. Empowered Funds LLC now owns 76,781 shares of the industrial products company’s stock worth $9,253,000 after buying an additional 2,829 shares during the last quarter. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Kaiser Aluminum Price Performance

KALU stock opened at $116.28 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.63 and a quick ratio of 1.25. Kaiser Aluminum Corporation has a 52-week low of $87.89 and a 52-week high of $199.89. The company has a 50-day moving average of $148.52 and a two-hundred day moving average of $152.88. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 8.98 and a beta of 1.72.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings results on Wednesday, October 21st. The industrial products company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.48). Kaiser Aluminum had a net margin of 4.85% and a return on equity of 23.65%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the business posted $1.86 earnings per share. The company’s revenue for the quarter was up 43.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Kaiser Aluminum Corporation will post 12.60 EPS for the current year.

Kaiser Aluminum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 23rd will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $3.08 dividend on an annualized basis and a yield of 2.6%. Kaiser Aluminum’s dividend payout ratio (DPR) is 23.78%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KALU. UBS Group cut their target price on Kaiser Aluminum from $184.00 to $158.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. Zacks Research downgraded Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 25th. Wall Street Zen lowered Kaiser Aluminum from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 24th. Barclays lowered their price objective on Kaiser Aluminum from $180.00 to $155.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Finally, KeyCorp cut their price objective on Kaiser Aluminum from $181.00 to $127.00 and set an “overweight” rating on the stock in a research note on Monday, October 26th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $141.00.

About Kaiser Aluminum

Kaiser Aluminum Corporation is a producer of semi-fabricated aluminum products used by manufacturers in the aerospace and defense, automotive, industrial, and consumer products markets. The company supplies aluminum materials designed for applications that require strength, light weight, corrosion resistance, and other specialized performance characteristics.

Its product portfolio includes rolled aluminum sheet and plate, extruded products, forged components, and other fabricated aluminum products.