Zurich Cantonal Bank sheds off 29% shares in Kaiser Aluminium

According to a report on Monday, May 8, Zurich Cantonal Bank reduced its shareholding in Kaiser Aluminium Co. by 28.8 per cent in the fourth quarter. As per the disclosure with the Securities and Exchange Commission, the bank shed off 743 shares during the said quarter and owned 1,835 shares of Kaiser worth $139,000.

Other hedge funds and institutional investors also recently bought and sold shares of Kaiser Aluminium. National Bank of Canada FI acquired new shares in Kaiser Aluminium worth $58,000 and Point72 Hong Kong Ltd bought a stake of nearly $80,000.

Captrust Financial Advisors increased its shares by 76.1 per cent, owning 1,016 shares worth $96,000. Public Employees Retirement System of Ohio grew its position in Kaiser Aluminium by 14.2 per cent by purchasing 206 new shares. The total shares it holds are 1,655 shares worth $102,000.

Finally, UBS Group AG purchased 1,153 new stocks in Kaiser, bringing total shares to 2,651 worth $250,000.

In the fourth quarter of 2022, Kaiser Aluminium earned revenue of $808 million, compared to analyst estimates of $810.25 million.

Kaiser Aluminium is an American aluminium producer, engaged in the manufacture and sale of semi-fabricated specialty aluminium products used in the aerospace, general engineering, automotive, and custom industrial applications. The products include plate, sheet, coil, hard alloy shapes, soft alloy extrusions, seamless and structural extruded, drawn tube, hard alloy rod, bar, wire and forge stock.