Summit Global Investments Has $1.08 Million Position in Kaiser Aluminum Corporation $KALU

Summit Global Investments lessened its holdings in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) by 32.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,981 shares of the industrial products company’s stock after selling 4,293 shares during the quarter. Summit Global Investments’ holdings in Kaiser Aluminum were worth $1,082,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KALU. Oregon Public Employees Retirement Fund grew its position in Kaiser Aluminum by 1.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 3,704 shares of the industrial products company’s stock worth $446,000 after acquiring an additional 62 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Kaiser Aluminum by 18.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 471 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 73 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Kaiser Aluminum by 2.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,916 shares of the industrial products company’s stock valued at $450,000 after purchasing an additional 76 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Kaiser Aluminum by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 3,127 shares of the industrial products company’s stock worth $359,000 after purchasing an additional 97 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Kaiser Aluminum by 20.0% in the fourth quarter. GAMMA Investing LLC now owns 630 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 105 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Kaiser Aluminum Stock Performance

NASDAQ:KALU opened at $164.37 on Wednesday. The firm has a market capitalization of $2.69 billion, a PE ratio of 17.91 and a beta of 1.59. Kaiser Aluminum Corporation has a 1 year low of $71.44 and a 1 year high of $195.96. The company has a current ratio of 2.47, a quick ratio of 1.14 and a debt-to-equity ratio of 1.28. The firm’s fifty day simple moving average is $176.42 and its 200 day simple moving average is $149.96.

Kaiser Aluminum (NASDAQ:KALU) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $3.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $1.78. Kaiser Aluminum had a net margin of 4.14% and a return on equity of 17.00%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $948.50 million. During the same quarter in the previous year, the business earned $1.44 EPS. The business’s revenue was up 42.4% on a year-over-year basis. On average, sell-side analysts anticipate that Kaiser Aluminum Corporation will post 8.69 EPS for the current year.

Kaiser Aluminum Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on KALU shares. Wells Fargo & Company restated an “underweight” rating and set a $158.00 target price on shares of Kaiser Aluminum in a report on Thursday, July 9th. Zacks Research downgraded Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. KeyCorp increased their price objective on Kaiser Aluminum from $170.00 to $183.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Wall Street Zen raised Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 18th. Finally, Weiss Ratings upgraded Kaiser Aluminum from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Kaiser Aluminum currently has a consensus rating of “Hold” and an average target price of $165.50.

Insider Activity

In other Kaiser Aluminum news, CFO Neal E. West sold 5,000 shares of Kaiser Aluminum 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 transaction, the chief financial officer directly owned 19,091 shares of the company’s stock, valued at $3,308,279.39. The trade was a 20.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Keith Harvey sold 3,031 shares of the business’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $173.13, for a total transaction of $524,757.03. Following the transaction, the chief executive officer directly owned 94,308 shares in the company, valued at $16,327,544.04. This trade represents a 3.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 71,731 shares of company stock worth $12,529,097 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Kaiser Aluminum Profile

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.