Short Interest in Kaiser Aluminum Co. (NASDAQ:KALU) Decreases By 13.0%

Kaiser Aluminum Co. (NASDAQ:KALU) was the target of a large 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 trading volume, of 130,100 shares, the days-to-cover ratio is presently 2.9 days. Approximately 2.4% of the shares of the company are short sold.

Kaiser Aluminum Price Performance

Shares of NASDAQ:KALU traded up $0.24 during trading hours on Wednesday, hitting $71.81. 25,810 shares of the company’s stock traded hands, compared to its average volume of 139,134. The company’s fifty day simple moving average is $70.79 and its two-hundred day simple moving average is $83.98. The company has a market cap of $1.15 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 52 week low of $53.67 and a 52 week high of $102.42.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Kaiser Aluminum news, CEO Keith Harvey purchased 2,588 shares of Kaiser Aluminum stock in a transaction on Monday, July 29th. The stock was bought at an average price of $77.23 per share, for a total transaction of $199,871.24. Following the transaction, the chief executive officer now owns 103,550 shares of the company’s stock, valued at $7,997,166.50. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Kaiser Aluminum

Several hedge funds have recently modified their holdings of the stock. American Century Companies Inc. increased its stake in Kaiser Aluminum by 358.0% in the 2nd quarter. American Century Companies Inc. now owns 250,809 shares of the industrial products company’s stock worth $22,046,000 after purchasing an additional 196,045 shares in the last quarter. Tributary Capital Management LLC raised its holdings in shares of Kaiser Aluminum by 23.6% during the first 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 during the period. Bank of Montreal Can lifted its position in shares of Kaiser Aluminum by 368.0% in the 2nd quarter. Bank of Montreal Can now owns 65,877 shares of the industrial products company’s stock valued at $5,917,000 after acquiring an additional 51,802 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in Kaiser Aluminum by 532,185.7% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 37,260 shares of the industrial products company’s stock worth $3,275,000 after purchasing an additional 37,253 shares during the period. Finally, ClariVest Asset Management LLC purchased a new position in Kaiser Aluminum during the 2nd quarter worth approximately $2,999,000. 99.29% of the stock is owned by hedge funds and other institutional investors.

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.