Insider Buying: Kaiser Aluminum Co. (NASDAQ:KALU) CEO Purchases 2,588 Shares of Stock

Kaiser Aluminum Co. (NASDAQ:KALU) CEO Keith Harvey acquired 2,588 shares of the stock in a transaction dated Monday, July 29th. The shares were purchased at an average price of $77.23 per share, for a total transaction of $199,871.24. Following the completion of the transaction, the chief executive officer now owns 103,550 shares of the company’s stock, valued at approximately $7,997,166.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Kaiser Aluminum Price Performance

NASDAQ:KALU traded down $1.28 during trading hours on Monday, reaching $76.48. The company had a trading volume of 247,728 shares, compared to its average volume of 147,329. The stock has a 50-day moving average of $92.00 and a two-hundred day moving average of $83.84. Kaiser Aluminum Co. has a one year low of $53.67 and a one year high of $102.42. The firm has a market capitalization of $1.23 billion, a PE ratio of 22.60 and a beta of 1.35. The company has a quick ratio of 1.42, a current ratio of 2.55 and a debt-to-equity ratio of 1.57.

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 analysts’ consensus estimates of $0.94 by ($0.29). The business had revenue of $773.40 million during the quarter, compared to analyst estimates of $773.89 million. Kaiser Aluminum had a return on equity of 6.84% and a net margin of 1.37%. Kaiser Aluminum’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 EPS. Analysts forecast that Kaiser Aluminum Co. will post 4.12 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, July 25th. Kaiser Aluminum’s dividend payout ratio is currently 89.53%.

Hedge Funds Weigh In On Kaiser Aluminum

Institutional investors and hedge funds have recently bought and sold shares of the business. Harvest Investment Advisors LLC lifted its stake in shares of Kaiser Aluminum by 1.6% during the fourth quarter. Harvest Investment Advisors LLC now owns 17,489 shares of the industrial products company’s stock valued at $1,245,000 after acquiring an additional 280 shares during the period. EntryPoint Capital LLC lifted 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 acquiring an additional 382 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Kaiser Aluminum by 3.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,430 shares of the industrial products company’s stock valued at $1,093,000 after acquiring an additional 397 shares during the period. New York State Teachers Retirement System lifted its stake in shares of Kaiser Aluminum by 8.1% during the first quarter. New York State Teachers Retirement System now owns 5,327 shares of the industrial products company’s stock valued at $476,000 after acquiring an additional 400 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Kaiser Aluminum by 400.0% during the first quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 432 shares during the period. Institutional investors and hedge funds own 99.29% of the company’s stock.

Analyst Ratings Changes

KALU has been the topic of a number of analyst reports. Benchmark upped their price target on Kaiser Aluminum from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. upped their price target on Kaiser Aluminum from $68.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th.

Kaiser Aluminum Company 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.