Kaiser Aluminum Co. (NASDAQ:KALU) Short Interest Down 13.0% in September

Kaiser Aluminum Co. (NASDAQ:KALU) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 376,800 shares, a decrease of 13.0% from the September 15th total of 432,900 shares. Based on an average daily volume of 130,100 shares, the short-interest ratio is presently 2.9 days. Currently, 2.4% of the shares of the stock are short sold.

Kaiser Aluminum Trading Up 1.5 %

Shares of Kaiser Aluminum stock traded up $1.07 during trading hours on Wednesday, hitting $72.64. The company’s stock had a trading volume of 4,585 shares, compared to its average volume of 139,027. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 20.81 and a beta of 1.33. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.42 and a current ratio of 2.55. Kaiser Aluminum has a twelve month low of $53.67 and a twelve month high of $102.42. The firm has a fifty day moving average of $70.79 and a 200-day moving average of $83.98.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.29). The company had revenue of $773.40 million during the quarter, compared to analysts’ expectations of $773.89 million. Kaiser Aluminum had a net margin of 1.37% and a return on equity of 6.84%. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 earnings per share. Research analysts forecast that Kaiser Aluminum will post 3.04 EPS for the current year.

Insider Activity

In related news, CEO Keith Harvey acquired 2,588 shares of Kaiser Aluminum stock in a transaction that occurred on 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 in the company, valued at $7,997,166.50. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Kaiser Aluminum

Several large investors have recently made changes to their positions in KALU. Vanguard Group Inc. raised its position in Kaiser Aluminum by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,887,751 shares of the industrial products company’s stock valued at $134,389,000 after purchasing an additional 10,676 shares during the period. GAMMA Investing LLC lifted its stake in Kaiser Aluminum by 400.0% during the 1st quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 432 shares in the last quarter. 180 Wealth Advisors LLC purchased a new position in Kaiser Aluminum during the 1st quarter valued at about $210,000. Tributary Capital Management LLC grew its position in Kaiser Aluminum by 23.6% in the 1st quarter. Tributary Capital Management LLC now owns 271,120 shares of the industrial products company’s stock valued at $24,227,000 after acquiring an additional 51,834 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Kaiser Aluminum by 941.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 906 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 819 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Benchmark boosted their target price on shares of Kaiser Aluminum from $84.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 12th.

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.