Kaiser Aluminum Co. (NASDAQ:KALU) Shares Bought by Summit Global Investments

Summit Global Investments raised its position in Kaiser Aluminum Co. (NASDAQ:KALU) by 87.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,854 shares of the industrial products company’s stock after acquiring an additional 6,005 shares during the quarter. Summit Global Investments’ holdings in Kaiser Aluminum were worth $1,130,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Kaiser Aluminum by 400.0% during the first quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock worth $48,000 after buying an additional 432 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Kaiser Aluminum during the fourth quarter worth approximately $51,000. EntryPoint Capital LLC grew its position in shares of Kaiser Aluminum by 79.7% during the first quarter. EntryPoint Capital LLC now owns 861 shares of the industrial products company’s stock worth $77,000 after buying an additional 382 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Kaiser Aluminum by 941.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 906 shares of the industrial products company’s stock worth $81,000 after buying an additional 819 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in shares of Kaiser Aluminum by 131.8% during the fourth quarter. Headlands Technologies LLC now owns 1,544 shares of the industrial products company’s stock worth $110,000 after buying an additional 878 shares in the last quarter. Institutional investors and hedge funds own 99.29% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Kaiser Aluminum

In related news, CEO Keith Harvey purchased 2,588 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average price of $77.23 per share, with a total value of $199,871.24. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by company insiders.

Kaiser Aluminum Stock Performance

KALU traded up $1.62 during trading hours on Wednesday, hitting $71.62. 41,923 shares of the stock were exchanged, compared to its average volume of 146,170. The stock has a 50-day simple moving average of $83.59 and a 200-day simple moving average of $84.55. Kaiser Aluminum Co. has a 12 month low of $53.67 and a 12 month high of $102.42. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 20.35 and a beta of 1.35. 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 (NASDAQ:KALU) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.29). Kaiser Aluminum had a return on equity of 6.84% and a net margin of 1.37%. The firm had revenue of $773.40 million for the quarter, compared to the consensus estimate of $773.89 million. During the same quarter last year, the business earned $1.26 earnings per share. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. Analysts anticipate that Kaiser Aluminum Co. will post 3.04 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend was Thursday, July 25th. Kaiser Aluminum’s payout ratio is 89.53%.

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.