First Eagle Investment Management LLC Sells 10,467 Shares of Kaiser Aluminum Co. (NASDAQ:KALU)

First Eagle Investment Management LLC lowered its holdings in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 164,343 shares of the industrial products company’s stock after selling 10,467 shares during the quarter. First Eagle Investment Management LLC owned about 1.02% of Kaiser Aluminum worth $14,446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Kaiser Aluminum by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 272,900 shares of the industrial products company’s stock valued at $19,428,000 after acquiring an additional 13,593 shares in the last quarter. Norges Bank bought a new position in shares of Kaiser Aluminum in the fourth quarter valued at approximately $7,415,000. Dynamic Technology Lab Private Ltd lifted its stake in shares of Kaiser Aluminum by 58.6% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 9,454 shares of the industrial products company’s stock worth $673,000 after buying an additional 3,494 shares during the last quarter. Harvest Investment Advisors LLC boosted its holdings in shares of Kaiser Aluminum by 1.6% during the 4th 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 period. Finally, Winslow Asset Management Inc. boosted its holdings in shares of Kaiser Aluminum by 3.1% during the 4th quarter. Winslow Asset Management Inc. now owns 81,788 shares of the industrial products company’s stock worth $5,823,000 after buying an additional 2,452 shares during the period. Institutional investors and hedge funds own 99.29% of the company’s stock.

Analyst Ratings Changes

Separately, Benchmark boosted their target price 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 Activity at Kaiser Aluminum

In other news, CEO Keith Harvey acquired 2,588 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were bought at an average price of $77.23 per share, with a total value of $199,871.24. Following the acquisition, the chief executive officer now owns 103,550 shares of the company’s stock, valued at $7,997,166.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Kaiser Aluminum Stock Performance

Shares of NASDAQ KALU opened at $71.28 on Friday. Kaiser Aluminum Co. has a 12 month low of $53.67 and a 12 month high of $102.42. The company has a quick ratio of 1.42, a current ratio of 2.55 and a debt-to-equity ratio of 1.57. The company has a market cap of $1.15 billion, a P/E ratio of 20.72 and a beta of 1.33. The business’s 50 day moving average is $76.00 and its two-hundred day moving average is $84.99.

Kaiser Aluminum (NASDAQ:KALU) last released its 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 company had revenue of $773.40 million for the quarter, compared to analyst estimates of $773.89 million. During the same quarter in the previous year, the company earned $1.26 earnings per share. Kaiser Aluminum’s revenue for the quarter was down 5.0% compared to the same quarter last year. On average, equities analysts expect that Kaiser Aluminum Co. will post 3.04 EPS for the current year.

Kaiser Aluminum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 25th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Thursday, July 25th. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 89.53%.

About Kaiser Aluminum

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.