BlackRock Inc. Grows Holdings in Kaiser Aluminum Corp. (KALU)

BlackRock Inc. raised its stake in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,183,720 shares of the industrial products company’s stock after purchasing an additional 30,723 shares during the period. BlackRock Inc. owned 13.03% of Kaiser Aluminum worth $220,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KALU. Flinton Capital Management LLC raised its position in shares of Kaiser Aluminum by 26.2% during the 4th quarter. Flinton Capital Management LLC now owns 2,788 shares of the industrial products company’s stock valued at $298,000 after buying an additional 578 shares in the last quarter. Sei Investments Co. raised its position in shares of Kaiser Aluminum by 1.2% during the 4th quarter. Sei Investments Co. now owns 49,842 shares of the industrial products company’s stock valued at $5,326,000 after buying an additional 612 shares in the last quarter. Swiss National Bank raised its position in shares of Kaiser Aluminum by 2.8% during the 1st quarter. Swiss National Bank now owns 29,500 shares of the industrial products company’s stock valued at $2,977,000 after buying an additional 800 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Kaiser Aluminum by 47.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,613 shares of the industrial products company’s stock valued at $264,000 after buying an additional 838 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Kaiser Aluminum by 0.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 138,414 shares of the industrial products company’s stock valued at $13,966,000 after buying an additional 1,194 shares in the last quarter.

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Several brokerages have recently issued reports on KALU. JPMorgan Chase & Co. upped their target price on shares of Kaiser Aluminum from $91.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday. Zacks Investment Research cut shares of Kaiser Aluminum from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. TheStreet upgraded shares of Kaiser Aluminum from a “c+” rating to a “b+” rating in a research report on Wednesday, April 25th. BidaskClub raised shares of Kaiser Aluminum from a “hold” rating to a “buy” rating in a research report on Tuesday, May 22nd. Finally, Goldman Sachs Group started coverage on shares of Kaiser Aluminum in a research report on Tuesday, March 20th. They issued a “neutral” rating and a $111.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $102.00.

In other news, VP Neal E. West sold 2,175 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $110.00, for a total transaction of $239,250.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jack A. Hockema sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $108.64, for a total transaction of $977,760.00. The disclosure for this sale can be found here. Insiders sold a total of 20,400 shares of company stock worth $2,242,630 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Kaiser Aluminum opened at $113.50 on Monday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.74 and a current ratio of 3.70. Kaiser Aluminum Corp. has a 1-year low of $83.77 and a 1-year high of $116.86. The stock has a market capitalization of $1.90 billion, a P/E ratio of 22.30, a PEG ratio of 1.16 and a beta of 0.65.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings data on Wednesday, April 25th. The industrial products company reported $1.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.06. Kaiser Aluminum had a net margin of 2.45% and a return on equity of 11.60%. The company had revenue of $388.00 million for the quarter, compared to analyst estimates of $392.66 million. During the same period in the prior year, the company posted $1.52 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. sell-side analysts expect that Kaiser Aluminum Corp. will post 6.51 EPS for the current fiscal year.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.

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