Kaiser Aluminum Corporation (NASDAQ:KALU) has been the object of insider selling activity recently. Carolyn Bartholomew, Director disclosed the sale of 1,000 shares of KALU stock. The shares were purchased at an average price of $92.00. Bartholomew now owns $1,319,648 of the stock per the Form 4 SEC filing. CEO Jack A. Hockema disclosed the sale of 9,000 shares. The shares were sold on July 10th for an average price of $91.18. The CEO now owns $7,286,467 of the stock according to the SEC filing.
Ray Parkinson, VP – Advanced Engineering disclosed the sale of 2,000 shares of (KALU). The shares were sold on May 11th for an average price of $80.75. Parkinson now owns $936,619 of the stock per the Form 4 SEC filing.
Kaiser Aluminum Corporation, launched on February 20, 1987, manufactures and sells semi-fabricated specialty aluminum mill products. It operates in the Fabricated Products segment. Fabricated Products segment focuses on producing rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive and general engineering products that include consumer durables, electronics, electrical and machinery and equipment applications. The Company offers its products for various end market applications, such as aerospace and high strength (Aero/HS products); automotive (Automotive Extrusions); general engineering (GE products), and other industrial (Other products). Its fabricated aluminum mill products include flat-rolled (plate and sheet), extruded (rod, bar, hollows and shapes), drawn (rod, bar, pipe and tube) and cast aluminum products..
The following firms have also recently changed their position in KALU. Clinton Group Inc trimmed its stake by selling 630 shares a decrease of 6.5%. Clinton Group Inc controls 8,994 shares valued at $718,000. The value of the position overall is down by 4.0%. As of the end of the quarter Creative Planning had disposed of 112 shares trimming its holdings by 62.2%. The value in dollars decreased from $14,000 to $6,000 decreasing 57.1% quarter over quarter.
Bank Of Montreal /can/ divested its position by shedding 364 shares a decrease of 8.5% from 03/31/2017 to 06/30/2017. Bank Of Montreal /can/ currently owns 3,939 shares worth $349,000. The total value of its holdings increased 1.5%. As of quarter end Capstone Asset Management Co had sold a total of 320 shares trimming its stake by 8.4%. The value of the total investment in Kaiser Aluminum Corporation went from $304,000 to $308,000 a change of $4,000 since the last quarter.
On December 14 the company was rated “Neutral” by Macquarie which was a cut from the previous “Outperform” rating. Equity analyst Seaport Global initiated coverage on the stock by announcing an initial rating of “Buy”.
On September 6 analysts at Macquarie starting coverage on the stock with an initial rating of “Outperform”. On July 20 the company was downgraded to “Neutral” from “” with a current price target of $92.00 in a report issued by Bank of America.
Goldman Sachs started covering KALU giving it an initial rating of “Neutral” and projecting a price target of $9.00. On March 11, 2016 Credit Suisse began coverage with a rating of “Neutral” and setting a price target of $85.00.
In the market the company is trading down by -0.75 percent from yesterday’s close. Additionally Kaiser Aluminum Corporation recently declared a dividend that was paid on Mon May 15, 2017. The dividend payment was $0.500 per share for the quarter which comes to $2.00 on an annualized basis. The dividend yield was $2.19. The ex-dividend date was Tuesday the 25th of April 2017.
Shares of the company are trading at $90.47 which is just over $84.23, the stock’s 50 day moving average and marginally over the 200 day moving average of $81.02. The 50 day moving average was up $6.24 or +7.41% and the 200 day average was up $9.45.
Kaiser Aluminum Corporation’s P/E ratio is 15.94 and the market value is 1.56B. In the latest earnings report the EPS was $5.68 and is expected to be $4.79 for the current year with 17,204,000 shares now outstanding. Next quarter’s EPS is forecasted to be $1.02 with next year’s EPS projected to be $5.54.
Traders are more bearish on Kaiser Aluminum Corporation recently if you watch the uptick in short interest. The stock experienced a rise in short interest of 16.94% between June 15, 2017 and May 31, 2017. Short interest grew 178,263 over that period. The days to cover decreased to 8.9 and the percentage of shorted shares is 0.07% as of May 31.