California State Teachers Retirement System Lowers Holdings in Kaiser Aluminum Co. (NASDAQ:KALU)

California State Teachers Retirement System lowered its holdings in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,018 shares of the industrial products company’s stock after selling 169 shares during the quarter. California State Teachers Retirement System owned approximately 0.09% of Kaiser Aluminum worth $1,055,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KALU. AlphaQuest LLC boosted its position in Kaiser Aluminum by 497.2% during the fourth quarter. AlphaQuest LLC now owns 651 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 542 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Kaiser Aluminum during the fourth quarter worth approximately $52,000. KBC Group NV boosted its position in Kaiser Aluminum by 93.0% during the fourth quarter. KBC Group NV now owns 851 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 410 shares in the last quarter. Aquatic Capital Management LLC boosted its position 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. Finally, McIlrath & Eck LLC purchased a new position in Kaiser Aluminum during the fourth quarter worth approximately $121,000. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Kaiser Aluminum Price Performance

Shares of Kaiser Aluminum stock opened at $78.99 on Tuesday. The business has a 50 day simple moving average of $64.89 and a two-hundred day simple moving average of $69.35. Kaiser Aluminum Co. has a 12 month low of $46.81 and a 12 month high of $100.07. The stock has a market capitalization of $1.28 billion, a P/E ratio of 27.52 and a beta of 1.43. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.44 and a quick ratio of 1.36.

Kaiser Aluminum (NASDAQ:KALU) last announced its earnings results on Wednesday, April 23rd. The industrial products company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.91. Kaiser Aluminum had a return on equity of 6.25% and a net margin of 1.55%. The business had revenue of $777.40 million during the quarter, compared to analysts’ expectations of $788.00 million. During the same quarter in the prior year, the firm earned $1.02 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts predict that Kaiser Aluminum Co. will post 5.14 EPS for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were issued a $0.77 dividend. The ex-dividend date was Friday, April 25th. This represents a $3.08 annualized dividend and a dividend yield of 3.90%. Kaiser Aluminum’s dividend payout ratio is presently 115.36%.

Analyst Ratings Changes

A number of equities analysts have issued reports on KALU shares. Wolfe Research upgraded Kaiser Aluminum from an “underperform” rating to a “peer perform” rating in a research report on Friday, April 11th. Benchmark lowered their price target 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. Wall Street Zen cut Kaiser Aluminum from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Finally, JPMorgan Chase & Co. increased their target price on Kaiser Aluminum from $62.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, April 28th.

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.