Icon Advisers Inc. Co. Trims Position in Kaiser Aluminum Corporation $KALU

Icon Advisers Inc. Co. lessened its holdings in shares of Kaiser Aluminum Corporation (NASDAQ:KALUFree Report) by 30.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,482 shares of the industrial products company’s stock after selling 20,000 shares during the quarter. Kaiser Aluminum makes up 1.3% of Icon Advisers Inc. Co.’s portfolio, making the stock its 19th biggest position. Icon Advisers Inc. Co. owned 0.28% of Kaiser Aluminum worth $5,602,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its holdings in Kaiser Aluminum by 17.9% in the first quarter. Meeder Asset Management Inc. now owns 6,954 shares of the industrial products company’s stock valued at $838,000 after acquiring an additional 1,057 shares in the last quarter. Parallel Advisors LLC raised its holdings in Kaiser Aluminum by 107.2% in the 1st quarter. Parallel Advisors LLC now owns 487 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 252 shares in the last quarter. KBC Group NV purchased a new stake in shares of Kaiser Aluminum in the 1st quarter worth about $44,000. Jennison Associates LLC purchased a new stake in shares of Kaiser Aluminum in the 1st quarter worth about $756,000. Finally, Independent Financial Group LLC bought a new stake in shares of Kaiser Aluminum during the 1st quarter valued at about $386,000. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Insider Buying and Selling at Kaiser Aluminum

In related news, CFO Neal E. West sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $173.29, for a total value of $866,450.00. Following the sale, the chief financial officer owned 19,091 shares in the company, valued at $3,308,279.39. This represents a 20.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Keith Harvey sold 47,001 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $175.09, for a total value of $8,229,405.09. Following the transaction, the chief executive officer directly owned 97,339 shares of the company’s stock, valued at approximately $17,043,085.51. This trade represents a 32.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 71,731 shares of company stock valued at $12,529,097. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on KALU. Zacks Research cut shares of Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $142.00 price objective (up from $124.00) on shares of Kaiser Aluminum in a report on Thursday, April 30th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $158.00 price objective on shares of Kaiser Aluminum in a research report on Thursday, July 9th. UBS Group upped their target price on Kaiser Aluminum from $176.00 to $179.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Finally, KeyCorp increased their target price on Kaiser Aluminum from $170.00 to $183.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $165.50.

Read Our Latest Research Report on KALU

Kaiser Aluminum Stock Down 0.0%

NASDAQ:KALU opened at $164.32 on Thursday. The firm’s 50-day moving average price is $176.12 and its 200-day moving average price is $150.31. The company has a market capitalization of $2.68 billion, a PE ratio of 17.90 and a beta of 1.59. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.47 and a quick ratio of 1.14. Kaiser Aluminum Corporation has a 1-year low of $71.44 and a 1-year high of $195.96.

Kaiser Aluminum (NASDAQ:KALUGet Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $5.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $2.87. Kaiser Aluminum had a net margin of 4.14% and a return on equity of 17.00%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the company posted $1.21 EPS. Kaiser Aluminum’s revenue was up 52.7% on a year-over-year basis. On average, equities analysts predict that Kaiser Aluminum Corporation will post 9.11 EPS for the current fiscal year.

Kaiser Aluminum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 24th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.9%. Kaiser Aluminum’s dividend payout ratio (DPR) is currently 33.55%.

Kaiser Aluminum Profile

(Free Report)

Kaiser Aluminum Corporation is a U.S.-based producer of semi‐fabricated aluminum products, serving a diverse range of industrial and specialty markets. The company’s offerings include extruded, rolled, and forged aluminum products designed to meet stringent performance requirements in sectors such as aerospace, automotive, defense, electronics, and general engineering. By focusing on high‐value applications, Kaiser Aluminum aims to deliver lightweight, durable solutions that contribute to efficiency and innovation across its customer base.

Operationally, Kaiser Aluminum maintains a network of smelters, extrusion plants, and rolling mills located primarily in North America.

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Institutional Ownership by Quarter for Kaiser Aluminum (NASDAQ:KALU)

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