TD Asset Management Inc. lowered its holdings in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) by 6.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,300 shares of the industrial products company’s stock after selling 2,900 shares during the period. TD Asset Management Inc. owned about 0.25% of Kaiser Aluminum worth $4,363,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of KALU. FMR LLC increased its holdings in Kaiser Aluminum by 136.8% in the 2nd quarter. FMR LLC now owns 205,561 shares of the industrial products company’s stock worth $18,196,000 after purchasing an additional 118,741 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Kaiser Aluminum by 30.9% in the 2nd quarter. Macquarie Group Ltd. now owns 418,863 shares of the industrial products company’s stock valued at $37,078,000 after buying an additional 98,855 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Kaiser Aluminum by 414.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 94,571 shares of the industrial products company’s stock valued at $8,371,000 after buying an additional 76,192 shares during the last quarter. Citadel Advisors LLC grew its position in shares of Kaiser Aluminum by 1,303.4% in the 2nd quarter. Citadel Advisors LLC now owns 78,283 shares of the industrial products company’s stock valued at $6,930,000 after buying an additional 72,705 shares during the last quarter. Finally, Pioneer Investment Management Inc. grew its position in shares of Kaiser Aluminum by 29.7% in the 2nd quarter. Pioneer Investment Management Inc. now owns 310,260 shares of the industrial products company’s stock valued at $27,464,000 after buying an additional 71,106 shares during the last quarter. 98.03% of the stock is owned by institutional investors.
Shares of Kaiser Aluminum Corporation (KALU) opened at $98.95 on Thursday. The company has a market capitalization of $1,660.12, a P/E ratio of 19.03, a PEG ratio of 1.30 and a beta of 0.54. Kaiser Aluminum Corporation has a 52 week low of $74.56 and a 52 week high of $108.99. The company has a quick ratio of 2.55, a current ratio of 3.75 and a debt-to-equity ratio of 0.47.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, October 25th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Tuesday, October 24th. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 41.32%.
Several brokerages recently commented on KALU. Zacks Investment Research lowered Kaiser Aluminum from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub lowered Kaiser Aluminum from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Cowen set a $97.00 target price on Kaiser Aluminum and gave the company a “hold” rating in a research report on Thursday, October 12th. Deutsche Bank lowered Kaiser Aluminum from a “buy” rating to a “hold” rating and set a $104.00 price target on the stock. in a report on Tuesday, October 17th. Finally, Morgan Stanley increased their price target on Kaiser Aluminum from $87.00 to $101.00 and gave the stock an “equal weight” rating in a report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Kaiser Aluminum has a consensus rating of “Hold” and a consensus target price of $99.00.
In other news, CEO Jack A. Hockema sold 9,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $102.67, for a total value of $924,030.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Melinda C. Ellsworth sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $99.48, for a total value of $99,480.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,982 shares of company stock valued at $1,637,622. Company insiders own 3.00% of the company’s stock.
About Kaiser Aluminum
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The Company operates in the Fabricated Products segment. The Company’s Fabricated Products segment focuses on producing rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive and general engineering products that include consumer durables, electronics, electrical and machinery and equipment applications.
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