Kaiser Aluminum Corporation $KALU Shares Sold by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System reduced its Kaiser Aluminum stake by 2.4%, selling 503 shares and retaining 20,127 shares valued at approximately $3.94 million. Institutional investors collectively own 99.29% of the company.
• Analyst sentiment remains generally positive: UBS upgraded the stock to “buy,” while Zacks Research and Wall Street Zen issued “strong-buy” ratings. Kaiser Aluminum has a consensus “moderate buy” rating and an average price target of $169.50.
• Kaiser Aluminum reported quarterly earnings of $5.53 per share, well above the $2.66 estimate, while revenue rose 52.7% year over year to $1.26 billion. The company also declared a quarterly dividend of $0.77 per share, equivalent to a 2.1% annualized yield.

California State Teachers Retirement System lessened its stake in shares of Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,127 shares of the industrial products company's stock after selling 503 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Kaiser Aluminum worth $3,937,445 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in shares of Kaiser Aluminum during the second quarter valued at $38,353,000. Bank of America Corp DE raised its holdings in Kaiser Aluminum by 0.9% during the first quarter. Bank of America Corp DE now owns 171,369 shares of the industrial products company's stock worth $20,652,000 after acquiring an additional 1,508 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Kaiser Aluminum by 14.0% in the 4th quarter. Fisher Asset Management LLC now owns 157,078 shares of the industrial products company's stock valued at $18,042,000 after purchasing an additional 19,291 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of Kaiser Aluminum by 4.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 125,386 shares of the industrial products company's stock valued at $14,402,000 after acquiring an additional 5,460 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Kaiser Aluminum by 32.4% in the first quarter. Principal Financial Group Inc. now owns 101,510 shares of the industrial products company's stock valued at $12,233,000 after buying an additional 24,853 shares during the period. 99.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. UBS Group upgraded Kaiser Aluminum from a "neutral" rating to a "buy" rating and increased their price objective for the company from $179.00 to $184.00 in a research report on Monday, August 31st. Wells Fargo & Company increased their price objective on Kaiser Aluminum from $158.00 to $169.00 and gave the company an "underweight" rating in a report on Friday, July 24th. Zacks Research upgraded Kaiser Aluminum from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded shares of Kaiser Aluminum from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 2nd. Finally, Weiss Ratings downgraded Kaiser Aluminum from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $169.50.

Kaiser Aluminum Stock Performance

NASDAQ:KALU traded up $0.19 during mid-day trading on Tuesday, reaching $149.25. 65,974 shares of the company's stock were exchanged, compared to its average volume of 248,191. Kaiser Aluminum Corporation has a one year low of $73.08 and a one year high of $199.89. The firm has a market capitalization of $2.44 billion, a PE ratio of 11.06 and a beta of 1.61. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.17 and a current ratio of 2.50. The business's fifty day simple moving average is $165.03 and its two-hundred day simple moving average is $159.80.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $5.53 EPS for the quarter, beating the consensus estimate of $2.66 by $2.87. Kaiser Aluminum had a net margin of 5.49% and a return on equity of 24.71%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The firm's revenue for the quarter was up 52.7% on a year-over-year basis. Analysts anticipate that Kaiser Aluminum Corporation will post 10.63 earnings per share for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, July 24th. Kaiser Aluminum's dividend payout ratio (DPR) is currently 22.83%.

Kaiser Aluminum Profile

Kaiser Aluminum Corporation is a manufacturer of semi-fabricated aluminum products. The company produces flat-rolled, extruded and forged aluminum products used by manufacturers in the aerospace, automotive, packaging, industrial and other specialized markets.

Its product portfolio includes aerospace plate and sheet, automotive body sheet, extruded shapes, rod and bar, forged components, and other customized aluminum products. Kaiser Aluminum serves original equipment manufacturers and suppliers that use aluminum for its light weight, strength, durability and recyclability.

The company traces its history to 1946 and operates manufacturing facilities in the United States.

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