ProShare Advisors LLC Trims Position in Kaiser Aluminum Co. (NASDAQ:KALU)

ProShare Advisors LLC trimmed its position in Kaiser Aluminum Co. (NASDAQ:KALU) by 18.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 104,136 shares of the industrial products company’s stock after selling 24,102 shares during the period. ProShare Advisors LLC owned about 0.65% of Kaiser Aluminum worth $9,306,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in KALU. Harvest Investment Advisors LLC boosted its holdings in shares of 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 worth $1,245,000 after buying an additional 280 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of Kaiser Aluminum by 8.1% during the 1st quarter. New York State Teachers Retirement System now owns 5,327 shares of the industrial products company’s stock worth $476,000 after acquiring an additional 400 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Kaiser Aluminum by 400.0% during the 1st quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 432 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Kaiser Aluminum by 16.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,031 shares of the industrial products company’s stock worth $360,000 after purchasing an additional 573 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Kaiser Aluminum in the 4th quarter worth $51,000. 99.29% of the stock is currently owned by institutional investors.

Kaiser Aluminum Price Performance

Shares of Kaiser Aluminum stock traded down $1.15 during trading hours on Wednesday, hitting $98.20. The company’s stock had a trading volume of 126,312 shares, compared to its average volume of 143,512. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.43 and a current ratio of 2.66. Kaiser Aluminum Co. has a 12-month low of $53.67 and a 12-month high of $102.42. The business has a 50 day moving average price of $93.30 and a two-hundred day moving average price of $82.45. The company has a market cap of $1.58 billion, a PE ratio of 28.88 and a beta of 1.35.

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

Kaiser Aluminum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.14%. The ex-dividend date is Thursday, July 25th. Kaiser Aluminum’s payout ratio is currently 89.53%.

Analysts Set New Price Targets

KALU has been the topic of several recent research reports. Benchmark raised their price objective on Kaiser Aluminum from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. raised their target price on shares of Kaiser Aluminum from $68.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th.

Kaiser Aluminum 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.