Maryland State Retirement & Pension System Trims Stock Position in Kaiser Aluminum Co. (NASDAQ:KALU)

Maryland State Retirement & Pension System cut its holdings in Kaiser Aluminum Co. (NASDAQ:KALUFree Report) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,728 shares of the industrial products company’s stock after selling 170 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Kaiser Aluminum were worth $519,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its position in Kaiser Aluminum by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,887,751 shares of the industrial products company’s stock worth $134,389,000 after buying an additional 10,676 shares in the last quarter. Tributary Capital Management LLC increased its position in Kaiser Aluminum by 23.6% during the 1st quarter. Tributary Capital Management LLC now owns 271,120 shares of the industrial products company’s stock worth $24,227,000 after purchasing an additional 51,834 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Kaiser Aluminum in the 4th quarter valued at about $1,136,000. Norges Bank purchased a new position in Kaiser Aluminum in the 4th quarter valued at about $7,415,000. Finally, First Eagle Investment Management LLC boosted its stake in shares of Kaiser Aluminum by 34.8% during the 4th quarter. First Eagle Investment Management LLC now owns 152,710 shares of the industrial products company’s stock worth $10,871,000 after purchasing an additional 39,398 shares during the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on KALU. Benchmark reissued a “buy” rating and issued a $84.00 price objective on shares of Kaiser Aluminum in a research report on Friday, April 19th. JPMorgan Chase & Co. increased their price target on Kaiser Aluminum from $68.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th.

Check Out Our Latest Research Report on Kaiser Aluminum

Kaiser Aluminum Stock Performance

Kaiser Aluminum stock opened at $87.56 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.43 and a current ratio of 2.66. Kaiser Aluminum Co. has a one year low of $53.67 and a one year high of $102.42. The stock’s 50 day moving average price is $93.59 and its 200 day moving average price is $81.32. The firm has a market capitalization of $1.41 billion, a PE ratio of 25.45 and a beta of 1.35.

Kaiser Aluminum (NASDAQ:KALUGet Free Report) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.44. Kaiser Aluminum had a net margin of 1.85% and a return on equity of 8.40%. The business had revenue of $738.00 million during the quarter, compared to the consensus estimate of $733.34 million. During the same period in the prior year, the firm earned $0.99 earnings per share. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that Kaiser Aluminum Co. will post 4.12 EPS for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Thursday, April 25th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend was Wednesday, April 24th. Kaiser Aluminum’s payout ratio is 89.53%.

Kaiser Aluminum Company Profile

(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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Institutional Ownership by Quarter for Kaiser Aluminum (NASDAQ:KALU)

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