Public Sector Pension Investment Board Raises Stake in Kaiser Aluminum Corporation $KALU

Key Points

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Public Sector Pension Investment Board grew its stake in shares of Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) by 27.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,570 shares of the industrial products company's stock after purchasing an additional 10,898 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.31% of Kaiser Aluminum worth $3,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KALU. Aquatic Capital Management LLC raised its holdings in Kaiser Aluminum by 87.1% during the fourth quarter. Aquatic Capital Management LLC now owns 1,684 shares of the industrial products company's stock worth $118,000 after purchasing an additional 784 shares in the last quarter. McIlrath & Eck LLC acquired a new stake in Kaiser Aluminum during the fourth quarter worth approximately $121,000. Tower Research Capital LLC TRC raised its holdings in Kaiser Aluminum by 325.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,768 shares of the industrial products company's stock worth $124,000 after purchasing an additional 1,352 shares in the last quarter. Headlands Technologies LLC raised its holdings in Kaiser Aluminum by 128.5% during the first quarter. Headlands Technologies LLC now owns 3,338 shares of the industrial products company's stock worth $202,000 after purchasing an additional 1,877 shares in the last quarter. Finally, Snowden Capital Advisors LLC acquired a new stake in Kaiser Aluminum during the fourth quarter worth approximately $205,000. Institutional investors and hedge funds own 99.29% of the company's stock.

Analysts Set New Price Targets

KALU has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Kaiser Aluminum from a "hold" rating to a "buy" rating in a report on Sunday, August 17th. JPMorgan Chase & Co. raised their target price on shares of Kaiser Aluminum from $64.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Kaiser Aluminum has an average rating of "Hold" and a consensus target price of $78.00.

Kaiser Aluminum Stock Performance

NASDAQ:KALU traded up $3.79 during midday trading on Friday, reaching $79.57. The stock had a trading volume of 183,910 shares, compared to its average volume of 136,570. The firm has a fifty day simple moving average of $80.44 and a two-hundred day simple moving average of $71.68. Kaiser Aluminum Corporation has a 12-month low of $46.81 and a 12-month high of $97.00. The company has a quick ratio of 1.30, a current ratio of 2.70 and a debt-to-equity ratio of 1.39. The stock has a market cap of $1.29 billion, a P/E ratio of 20.46 and a beta of 1.51.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.72. Kaiser Aluminum had a net margin of 2.05% and a return on equity of 8.03%. The firm had revenue of $823.10 million for the quarter, compared to analyst estimates of $786.70 million. On average, equities analysts expect that Kaiser Aluminum Corporation will post 5.14 EPS for the current year.

Kaiser Aluminum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, July 25th. Kaiser Aluminum's payout ratio is presently 79.18%.

Kaiser Aluminum Company Profile

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.