Point72 Asia Singapore Pte. Ltd. Sells 563 Shares of Kaiser Aluminum Co. (NASDAQ:KALU)

Point72 Asia Singapore Pte. Ltd. reduced its stake in Kaiser Aluminum Co. (NASDAQ:KALU) by 15.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,992 shares of the industrial products company’s stock after selling 563 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Kaiser Aluminum were worth $263,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. National Bank of Canada FI purchased a new stake in Kaiser Aluminum in the 2nd quarter worth $32,000. GAMMA Investing LLC grew its holdings in Kaiser Aluminum by 400.0% during the 1st quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $48,000 after buying an additional 432 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Kaiser Aluminum in the second quarter worth $63,000. EntryPoint Capital LLC grew its stake in Kaiser Aluminum by 79.7% during the first quarter. EntryPoint Capital LLC now owns 861 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 382 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Kaiser Aluminum by 941.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 906 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 819 shares during the last quarter. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Kaiser Aluminum

In other Kaiser Aluminum news, CEO Keith Harvey bought 2,588 shares of the business’s stock in a transaction dated 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 completion of the purchase, the chief executive officer now owns 103,550 shares in the company, valued at approximately $7,997,166.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.50% of the company’s stock.

Kaiser Aluminum Price Performance

KALU stock opened at $73.04 on Wednesday. The company has a fifty day simple moving average of $71.74 and a two-hundred day simple moving average of $84.84. Kaiser Aluminum Co. has a 52 week low of $53.67 and a 52 week 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 firm has a market capitalization of $1.17 billion, a P/E ratio of 21.23 and a beta of 1.33.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.29). The company had revenue of $773.40 million for the quarter, compared to the consensus estimate of $773.89 million. Kaiser Aluminum had a return on equity of 6.84% and a net margin of 1.37%. The company’s revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.26 earnings per share. Analysts anticipate that Kaiser Aluminum Co. will post 3.04 earnings per share for the current fiscal year.

Kaiser Aluminum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.22%. The ex-dividend date was Thursday, July 25th. Kaiser Aluminum’s payout ratio is 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.