Summit Global trims stake in Kaiser Aluminum while many other institutions rebalancing their positions

According to the latest regulatory filing, Summit Global Investments has significantly reduced its exposure to Kaiser Aluminum Corporation during the third quarter. The investment firm trimmed its holding in the industrial products manufacturer by more than half, selling 5,683 shares over the period. As a result, Summit Global ended the quarter with 5,347 shares of Kaiser Aluminum stock, a position valued at approximately USD 413,000 at the close of the reporting period. Kaiser Aluminum is a US-based manufacturer of semi-fabricated aluminium products traded on the Nasdaq under the ticker KALU.

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The move came amid broader portfolio adjustments by institutional investors, several of whom either increased their stakes or initiated new positions in the aluminium producer. During the same quarter, DePrince Race & Zollo Inc. entered the stock for the first time, investing roughly USD 2.46 million. Earlier in the year, American Century Companies Inc. modestly expanded its holding, lifting its stake by 7.4 per cent in the second quarter. That increase brought its total ownership to 536,208 shares, valued at about USD 42.84 million, following the acquisition of an additional 36,894 shares.

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Alongside, other asset managers declared notable changes. Envestnet Asset Management Inc. raised its position sharply in the second quarter, increasing its holding by 62 per cent after purchasing 25,546 additional shares. The firm now owns 66,773 shares worth around USD 5.34 million. HSBC Holdings Plc also reported a substantial increase, expanding its stake by 175.2 per cent during the same period to 16,353 shares, with a market value of approximately USD1.32 million. Meanwhile, Bastion Asset Management Inc. established a new position in the company during the second quarter, investing close to USD 3.0 million. Overall, institutional investors and hedge funds collectively account for 99.29 per cent of Kaiser Aluminum’s outstanding shares.

Share price performance and financial snapshot

Kaiser Aluminum shares were trading at USD122.62 on Friday, reflecting a decline of 3.4 per cent on the day. The company currently has a market capitalisation of USD1.99 billion. From a balance sheet perspective, it reports a quick ratio of 1.08 and a current ratio of 2.48, alongside a debt-to-equity ratio of 1.29. The stock’s 50-day moving average stands at USD115.30, while its 200-day moving average is USD 93.42.

On valuation metrics, Kaiser Aluminum is trading at a price-to-earnings ratio of 22.17 and carries a beta of 1.44, indicating higher volatility relative to the broader market. Over the past year, the shares have ranged between a low of USD 46.81 and a high of USD 135.48.

Dividend details

The company has also confirmed its latest quarterly dividend. Shareholders on record as of 23 January will receive a dividend of USD 0.77 per share, payable on Friday, February 13. This equates to an annualised payout of USD 3.08 per share and implies a dividend yield of approximately 2.5 per cent. The dividend payout ratio currently stands at 55.70 per cent, while the ex-dividend date is set for 23 January.

Analyst views remain cautious

Equity analysts continue to adopt a broadly cautious stance on Kaiser Aluminum. JPMorgan Chase & Co. revised its price target upwards from USD 82.00 to  USD 105.00 in late October, while maintaining a neutral rating. Wells Fargo & Company issued an “equal weight” rating in January, setting a price objective of USD120.00. Weiss Ratings reaffirmed its “hold (C+)” assessment towards the end of December, and Zacks Research downgraded the stock from “strong buy” to “hold” during the same period. In contrast, Wall Street Zen upgraded its recommendation from “buy” to “strong buy” in October.

Taken together, one analyst currently rates the stock as a buy, while five recommend holding it. MarketBeat data shows a consensus rating of “Hold” with an average price target of USD 99.67.

Insider transaction disclosed

In a separate filing, Kaiser Aluminum disclosed a recent insider sale. Executive Vice President Blain Tiffany sold 8,656 shares on 7 November at an average price of USD 93.92 per share, generating proceeds of USD 812,971.52. Following the transaction, the executive retained 26,275 shares, valued at roughly USD 2.47 million. The sale reduced their personal holding by 24.78 per cent. Company insiders collectively own about 1.40 per cent of Kaiser Aluminum’s outstanding stock.

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