BNP Paribas lets go of 26.4% shareholding in Kaiser Aluminum amid a “Hold” sentiment

BNP Paribas Arbitrage S.N.C., a global leader in financial services, has reportedly reduced its share position in Kaiser Aluminum Co. by 26.4 per cent in the second quarter of 2023. The investor has sold 2,681 shares of Kaiser Aluminum and owns 7,475 shares. BNP Paribas’ holdings in Kaiser Aluminum were worth $536,000 as of the most recent filing with the SEC.

On the other hand, several other large investors acquired new shares in Kaiser Aluminum. For instance, State Street Corp raised its holdings by 30.6 per cent in the first quarter, owning 1,132,280 shares worth $106,615,000. Barrow Hanley Mewhinney & Strauss LLC also lifted its shares in Kaiser by 20.6 per cent by acquiring an additional 139,145 shares in Q1. The company now owns 815,300 shares valued at $60,846,000.

Norges Bank purchased new shares of Kaiser Aluminum in the fourth quarter valued at $9,886,000, while Penn Capital Management Company LLC bought shares worth $11,345,000 in Q1. Finally, Northern Trust Corp lifted its stake in Kaiser’s shares by 57.6 per cent, owning 290,976 shares worth $27,399,000.

StockNews.com has raised Kaiser’s rating from “sell” to “hold” in a recent research note a month ago. Two other research analysts have given a hold rating, while two have rated the stock with a sell rating. The company has an average rating of “hold” and a consensus target price of $72.75, according to MarketBeat.com.

On Tuesday, December 5, Kaiser Aluminum opened at $61.27, with a 50-day moving average price of $62.97 and a 200-day moving average price of $69.61.