Teacher Retirement System of Texas bought a new stake in Kaiser Aluminum Corporation (NASDAQ:KALU - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,080 shares of the industrial products company's stock, valued at approximately $369,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pitcairn Co. raised its position in Kaiser Aluminum by 3.0% in the fourth quarter. Pitcairn Co. now owns 6,118 shares of the industrial products company's stock valued at $430,000 after purchasing an additional 181 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Kaiser Aluminum by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,094 shares of the industrial products company's stock valued at $639,000 after purchasing an additional 317 shares during the period. MetLife Investment Management LLC raised its position in Kaiser Aluminum by 5.0% in the fourth quarter. MetLife Investment Management LLC now owns 9,705 shares of the industrial products company's stock valued at $682,000 after purchasing an additional 462 shares during the period. AlphaQuest LLC raised its position in Kaiser Aluminum by 497.2% in the fourth quarter. AlphaQuest LLC now owns 651 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 542 shares during the period. Finally, Two Sigma Investments LP increased its position in shares of Kaiser Aluminum by 12.8% during the fourth quarter. Two Sigma Investments LP now owns 4,804 shares of the industrial products company's stock worth $338,000 after acquiring an additional 546 shares during the last quarter. Institutional investors and hedge funds own 99.29% of the company's stock.
Kaiser Aluminum Stock Down 0.5%
Kaiser Aluminum stock traded down $0.42 during midday trading on Friday, hitting $89.68. The stock had a trading volume of 136,117 shares, compared to its average volume of 137,014. The company has a current ratio of 2.67, a quick ratio of 1.27 and a debt-to-equity ratio of 1.38. The stock has a market cap of $1.45 billion, a P/E ratio of 33.59 and a beta of 1.44. Kaiser Aluminum Corporation has a 12 month low of $46.81 and a 12 month high of $98.50. The business has a fifty day moving average price of $77.90 and a 200 day moving average price of $70.39.
Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.91. The firm had revenue of $777.40 million during the quarter, compared to analyst estimates of $788.00 million. Kaiser Aluminum had a return on equity of 7.02% and a net margin of 1.43%. Kaiser Aluminum's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 earnings per share. Research analysts predict that Kaiser Aluminum Corporation will post 5.14 EPS for the current year.
Kaiser Aluminum Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, July 25th. Kaiser Aluminum's dividend payout ratio is currently 115.36%.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Wolfe Research raised Kaiser Aluminum from an "underperform" rating to a "peer perform" rating in a research report on Friday, April 11th. Benchmark dropped their target price on Kaiser Aluminum from $100.00 to $74.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. lifted their target price on Kaiser Aluminum from $62.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Finally, Wall Street Zen raised Kaiser Aluminum from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th.
Read Our Latest Research Report on Kaiser Aluminum
About Kaiser Aluminum
(
Free Report)
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.
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