New York State Teachers Retirement System increased its holdings in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,127 shares of the industrial products company’s stock after purchasing an additional 235 shares during the period. New York State Teachers Retirement System owned 0.06% of Kaiser Aluminum worth $672,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Kaiser Aluminum by 44.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,381 shares of the industrial products company’s stock valued at $96,000 after buying an additional 422 shares during the last quarter. Advisor Group Holdings Inc. purchased a new position in Kaiser Aluminum in the 1st quarter valued at about $178,000. IndexIQ Advisors LLC purchased a new position in Kaiser Aluminum in the 1st quarter valued at about $188,000. US Bancorp DE boosted its position in Kaiser Aluminum by 1,245.5% in the 1st quarter. US Bancorp DE now owns 2,960 shares of the industrial products company’s stock valued at $205,000 after buying an additional 2,740 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Kaiser Aluminum in the 1st quarter valued at about $212,000. 98.15% of the stock is owned by hedge funds and other institutional investors.
In related news, COO Keith Harvey sold 1,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $73.07, for a total transaction of $73,070.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jack A. Hockema sold 2,854 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $81.95, for a total transaction of $233,885.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,254 shares of company stock worth $490,623. 1.40% of the stock is owned by company insiders.
A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Kaiser Aluminum from $105.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 17th. Zacks Investment Research raised shares of Kaiser Aluminum from a “sell” rating to a “hold” rating in a research report on Wednesday, June 24th. BidaskClub cut shares of Kaiser Aluminum from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Finally, ValuEngine cut shares of Kaiser Aluminum from a “hold” rating to a “sell” rating in a research report on Wednesday, April 29th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Kaiser Aluminum presently has an average rating of “Hold” and a consensus price target of $99.33.
Shares of KALU stock opened at $61.95 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 6.16 and a current ratio of 7.36. Kaiser Aluminum Corp. has a one year low of $54.54 and a one year high of $117.06. The company’s 50-day simple moving average is $70.16 and its 200-day simple moving average is $79.44. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 10.79 and a beta of 1.13.
Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.14. The firm had revenue of $275.70 million for the quarter. Kaiser Aluminum had a net margin of 2.66% and a return on equity of 12.90%.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 24th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a $2.68 annualized dividend and a yield of 4.33%. Kaiser Aluminum’s dividend payout ratio (DPR) is 39.12%.
Kaiser Aluminum Profile
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.
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