Teacher Retirement System of Texas Acquires New Stake in Kaiser Aluminum Corporation (NASDAQ:KALU)

Teacher Retirement System of Texas acquired a new position in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,080 shares of the industrial products company’s stock, valued at approximately $369,000.

Several other institutional investors and hedge funds have also made changes to their positions in KALU. AlphaQuest LLC raised its stake in shares of Kaiser Aluminum by 497.2% during the 4th quarter. AlphaQuest LLC now owns 651 shares of the industrial products company’s stock worth $46,000 after buying an additional 542 shares in the last quarter. Aquatic Capital Management LLC grew 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 valued at $118,000 after acquiring an additional 784 shares during the period. McIlrath & Eck LLC purchased a new stake in Kaiser Aluminum during the fourth quarter valued at about $121,000. Tower Research Capital LLC TRC lifted its stake in shares of Kaiser Aluminum by 325.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,768 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 1,352 shares in the last quarter. Finally, Snowden Capital Advisors LLC purchased a new stake in shares of Kaiser Aluminum during the fourth quarter worth about $205,000. 99.29% of the stock is owned by institutional investors and hedge funds.

Kaiser Aluminum Stock Performance

Shares of Kaiser Aluminum stock opened at $90.10 on Friday. The company has a market cap of $1.46 billion, a PE ratio of 33.75 and a beta of 1.44. 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 company has a 50 day moving average of $77.90 and a 200-day moving average of $70.39. Kaiser Aluminum Corporation has a 1-year low of $46.81 and a 1-year high of $98.50.

Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.91. Kaiser Aluminum had a net margin of 1.43% and a return on equity of 7.02%. The firm had revenue of $777.40 million for the quarter, compared to analyst estimates of $788.00 million. During the same period last year, the firm earned $1.02 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts forecast that Kaiser Aluminum Corporation will post 5.14 earnings per share for the current fiscal year.

Kaiser Aluminum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, July 25th. This represents a $3.08 dividend on an annualized basis and a yield of 3.42%. Kaiser Aluminum’s dividend payout ratio is currently 115.36%.

Analysts Set New Price Targets

Several brokerages recently weighed in on KALU. Benchmark lowered their price objective on Kaiser Aluminum from $100.00 to $74.00 and set a “buy” rating for the company in a report on Monday, April 21st. Wall Street Zen raised shares of Kaiser Aluminum from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. JPMorgan Chase & Co. upped their price target on shares of Kaiser Aluminum from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. 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.

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.