Magnus Financial Group LLC Reduces Stake in Kaiser Aluminum Corp. (NASDAQ:KALU)

Lenore Staats

Magnus Financial Group LLC decreased its holdings in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) by 21.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,837 shares of the industrial products company’s stock after selling […]

Magnus Financial Group LLC decreased its holdings in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) by 21.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,837 shares of the industrial products company’s stock after selling 774 shares during the quarter. Magnus Financial Group LLC’s holdings in Kaiser Aluminum were worth $209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in KALU. Swiss National Bank raised its holdings in Kaiser Aluminum by 0.7% during the first quarter. Swiss National Bank now owns 30,800 shares of the industrial products company’s stock worth $2,134,000 after purchasing an additional 200 shares in the last quarter. US Bancorp DE increased its position in shares of Kaiser Aluminum by 1,245.5% during the first quarter. US Bancorp DE now owns 2,960 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 2,740 shares in the last quarter. IndexIQ Advisors LLC purchased a new stake in shares of Kaiser Aluminum in the 1st quarter valued at about $188,000. Wells Fargo & Company MN boosted its position in shares of Kaiser Aluminum by 18.0% in the 1st quarter. Wells Fargo & Company MN now owns 132,510 shares of the industrial products company’s stock valued at $9,181,000 after purchasing an additional 20,167 shares during the period. Finally, Invesco Ltd. grew its stake in Kaiser Aluminum by 43.3% during the 1st quarter. Invesco Ltd. now owns 447,741 shares of the industrial products company’s stock worth $31,020,000 after buying an additional 135,317 shares during the last quarter. 98.15% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Jack A. Hockema sold 1,400 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $80.22, for a total value of $112,308.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Keith Harvey sold 500 shares of Kaiser Aluminum stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $70.00, for a total value of $35,000.00. The disclosure for this sale can be found here. Insiders sold a total of 7,254 shares of company stock valued at $558,123 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Kaiser Aluminum stock opened at $65.49 on Friday. The stock has a 50 day moving average of $66.68 and a two-hundred day moving average of $74.36. Kaiser Aluminum Corp. has a twelve month low of $54.54 and a twelve month high of $117.06. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 11.35 and a beta of 1.04. The company has a current ratio of 7.36, a quick ratio of 6.16 and a debt-to-equity ratio of 1.20.

Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.14. Kaiser Aluminum had a return on equity of 12.90% and a net margin of 2.66%. The business had revenue of $275.70 million during the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $2.68 dividend on an annualized basis and a yield of 4.09%. Kaiser Aluminum’s payout ratio is currently 39.12%.

Several equities research analysts have recently weighed in on KALU shares. Zacks Investment Research raised Kaiser Aluminum from a “sell” rating to a “hold” rating in a report on Wednesday, June 24th. BidaskClub raised shares of Kaiser Aluminum from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Kaiser Aluminum has a consensus rating of “Hold” and an average price target of $100.50.

Kaiser Aluminum 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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Institutional Ownership by Quarter for Kaiser Aluminum (NASDAQ:KALU)

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