Teacher Retirement System of Texas Acquires Shares of 6,080 Kaiser Aluminum Corporation (NASDAQ:KALU)

Teacher Retirement System of Texas acquired a new position 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 acquired 6,080 shares of the industrial products company's stock, valued at approximately $369,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP raised its position in Kaiser Aluminum by 103.6% during the fourth quarter. Wellington Management Group LLP now owns 431,980 shares of the industrial products company's stock valued at $30,355,000 after purchasing an additional 219,827 shares in the last quarter. Bridgeway Capital Management LLC bought a new stake in Kaiser Aluminum in the 4th quarter worth approximately $4,581,000. Crestline Management LP bought a new stake in Kaiser Aluminum in the 4th quarter worth approximately $3,558,000. American Century Companies Inc. grew its position in Kaiser Aluminum by 12.6% in the 4th quarter. American Century Companies Inc. now owns 447,723 shares of the industrial products company's stock worth $31,461,000 after purchasing an additional 49,948 shares during the period. Finally, Norges Bank bought a new stake in Kaiser Aluminum in the 4th quarter worth approximately $3,312,000. Hedge funds and other institutional investors own 99.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Kaiser Aluminum from $62.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Benchmark cut their target price on shares of Kaiser Aluminum from $100.00 to $74.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Wall Street Zen raised shares of Kaiser Aluminum from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, Wolfe Research raised shares of Kaiser Aluminum from an "underperform" rating to a "peer perform" rating in a research report on Friday, April 11th.

Kaiser Aluminum Stock Performance

Shares of NASDAQ:KALU traded up $1.85 during midday trading on Monday, hitting $91.53. The company had a trading volume of 119,115 shares, compared to its average volume of 136,905. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.67 and a quick ratio of 1.27. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 34.28 and a beta of 1.44. Kaiser Aluminum Corporation has a 12-month low of $46.81 and a 12-month high of $97.27. The company has a fifty day moving average of $78.34 and a two-hundred day moving average of $70.53.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $1.44 EPS for the quarter, topping 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 revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 EPS. On average, equities research analysts expect that Kaiser Aluminum Corporation will post 5.14 EPS for the current fiscal year.

Kaiser Aluminum Announces Dividend

The company also recently announced 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 3.37%. The ex-dividend date of this dividend is Friday, July 25th. Kaiser Aluminum's dividend payout ratio is currently 115.36%.

About Kaiser Aluminum

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.