Kaiser Aluminum Co. (NASDAQ:KALU) CEO Buys $199,871.24 in Stock

Kaiser Aluminum Co. (NASDAQ:KALU) CEO Keith Harvey acquired 2,588 shares of the business’s stock in a transaction on Monday, July 29th. The shares were bought at an average cost of $77.23 per share, for a total transaction of $199,871.24. Following the acquisition, the chief executive officer now 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 Securities & Exchange Commission, which can be accessed through this link.

Kaiser Aluminum Stock Performance

KALU stock traded down $1.28 on Monday, hitting $76.48. The company’s stock had a trading volume of 247,728 shares, compared to its average volume of 147,329. The firm has a 50 day moving average of $92.00 and a two-hundred day moving average of $83.84. Kaiser Aluminum Co. has a 1 year low of $53.67 and a 1 year high of $102.42. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 22.60 and a beta of 1.35. The company has a current ratio of 2.55, a quick ratio of 1.42 and a debt-to-equity ratio of 1.57.

Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $0.65 EPS 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 quarter last year, the company earned $1.26 EPS. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. Equities analysts predict that Kaiser Aluminum Co. will post 4.12 EPS for the current fiscal year.

Kaiser Aluminum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $3.08 dividend on an annualized basis and a yield of 4.03%. Kaiser Aluminum’s payout ratio is currently 89.53%.

Analysts Set New Price Targets

A number of research firms have weighed in on KALU. JPMorgan Chase & Co. raised their price objective on shares of Kaiser Aluminum from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Benchmark lifted their target price on shares of Kaiser Aluminum from $84.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 12th.

Hedge Funds Weigh In On Kaiser Aluminum

A number of large investors have recently bought and sold shares of KALU. Vanguard Group Inc. raised its position in Kaiser Aluminum by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,877,075 shares of the industrial products company’s stock worth $141,269,000 after buying an additional 8,771 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Kaiser Aluminum during the 4th quarter worth $1,136,000. Trust Point Inc. purchased a new position in Kaiser Aluminum during the 4th quarter worth $526,000. International Assets Investment Management LLC purchased a new position in Kaiser Aluminum during the 4th quarter worth $51,000. Finally, New York State Teachers Retirement System raised its position in Kaiser Aluminum by 11.3% during the 4th quarter. New York State Teachers Retirement System now owns 4,927 shares of the industrial products company’s stock worth $351,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 99.29% of the company’s stock.

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.