3,873 Shares in Kaiser Aluminum Co. (NASDAQ:KALU) Acquired by Truist Financial Corp

Truist Financial Corp bought a new position in Kaiser Aluminum Co. (NASDAQ:KALU) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 3,873 shares of the industrial products company’s stock, valued at approximately $340,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. National Bank of Canada FI bought a new stake in shares of Kaiser Aluminum in the second quarter valued at about $32,000. GAMMA Investing LLC raised its holdings in shares of Kaiser Aluminum by 400.0% in the 1st quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 432 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Kaiser Aluminum in the 2nd quarter worth approximately $63,000. EntryPoint Capital LLC boosted its stake in shares of 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 purchasing an additional 382 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Kaiser Aluminum by 941.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 906 shares of the industrial products company’s stock valued at $81,000 after buying an additional 819 shares during the period. Institutional investors own 99.29% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Kaiser Aluminum

In other Kaiser Aluminum news, CEO Keith Harvey bought 2,588 shares of Kaiser Aluminum stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average cost of $77.23 per share, with a total value of $199,871.24. Following the transaction, the chief executive officer now directly owns 103,550 shares of the company’s stock, valued at approximately $7,997,166.50. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.50% of the company’s stock.

Kaiser Aluminum Stock Performance

Shares of Kaiser Aluminum stock opened at $73.42 on Friday. Kaiser Aluminum Co. has a one year low of $53.67 and a one year high of $102.42. The company has a market capitalization of $1.18 billion, a PE ratio of 21.34 and a beta of 1.33. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.42 and a current ratio of 2.55. The company has a 50-day simple moving average of $71.13 and a two-hundred day simple moving average of $83.72.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings data 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). The firm 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 quarter last year, the firm earned $1.26 EPS. Research analysts expect that Kaiser Aluminum Co. will post 3.04 EPS for the current fiscal year.

Kaiser Aluminum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, October 25th. This represents a $3.08 annualized dividend and a dividend yield of 4.20%. Kaiser Aluminum’s dividend payout ratio is presently 89.53%.

Kaiser Aluminum Profile

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.