PNC Financial Services Group Inc. Cuts Holdings in Kaiser Aluminum Co. (NASDAQ:KALU)

PNC Financial Services Group Inc. trimmed its holdings in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,334 shares of the industrial products company’s stock after selling 190 shares during the period. PNC Financial Services Group Inc.’s holdings in Kaiser Aluminum were worth $305,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Kaiser Aluminum in the 4th quarter worth approximately $2,245,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Kaiser Aluminum by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 298,318 shares of the industrial products company’s stock worth $20,963,000 after acquiring an additional 3,816 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Kaiser Aluminum in the 4th quarter worth approximately $52,000. Bailard Inc. grew its holdings in shares of Kaiser Aluminum by 73.8% in the 4th quarter. Bailard Inc. now owns 7,645 shares of the industrial products company’s stock worth $537,000 after acquiring an additional 3,245 shares during the period. Finally, Versor Investments LP grew its holdings in shares of Kaiser Aluminum by 52.3% in the 4th quarter. Versor Investments LP now owns 6,700 shares of the industrial products company’s stock worth $471,000 after acquiring an additional 2,300 shares during the period. Institutional investors and hedge funds own 99.29% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Kaiser Aluminum from a “hold” rating to a “sell” rating in a report on Saturday, March 15th.

Kaiser Aluminum Price Performance

Shares of NASDAQ:KALU opened at $66.28 on Friday. The business’s fifty day moving average price is $70.72 and its two-hundred day moving average price is $73.07. The stock has a market cap of $1.07 billion, a PE ratio of 23.09 and a beta of 1.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.36 and a current ratio of 2.44. Kaiser Aluminum Co. has a one year low of $63.44 and a one year high of $102.42.

Kaiser Aluminum (NASDAQ:KALU) last announced its earnings results on Wednesday, February 19th. The industrial products company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). The company had revenue of $765.40 million for the quarter, compared to analyst estimates of $752.00 million. Kaiser Aluminum had a net margin of 1.55% and a return on equity of 6.25%. During the same quarter last year, the company posted $0.60 EPS. On average, analysts forecast that Kaiser Aluminum Co. will post 5.14 EPS for the current fiscal year.

Kaiser Aluminum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend was Friday, January 24th. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 107.32%.

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.