Kaiser Aluminum Corporation $KALU Stock Position Lifted by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its stake in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) by 27.5% during the first quarter, HoldingsChannel.com reports. The firm owned 50,570 shares of the industrial products company’s stock after acquiring an additional 10,898 shares during the period. Public Sector Pension Investment Board’s holdings in Kaiser Aluminum were worth $3,066,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in Kaiser Aluminum during the first quarter valued at approximately $674,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Kaiser Aluminum during the first quarter valued at approximately $1,598,000. Deutsche Bank AG grew its position in Kaiser Aluminum by 54.0% during the fourth quarter. Deutsche Bank AG now owns 14,191 shares of the industrial products company’s stock valued at $997,000 after purchasing an additional 4,977 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Kaiser Aluminum during the fourth quarter valued at approximately $2,245,000. Finally, Wellington Management Group LLP grew its position in Kaiser Aluminum by 103.6% in the fourth quarter. Wellington Management Group LLP now owns 431,980 shares of the industrial products company’s stock worth $30,355,000 after acquiring an additional 219,827 shares in the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on KALU. Benchmark decreased 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. JPMorgan Chase & Co. boosted their target price on shares of Kaiser Aluminum from $64.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Finally, Wall Street Zen raised shares of Kaiser Aluminum from a “hold” rating to a “buy” rating in a research report on Sunday.

Kaiser Aluminum Price Performance

Shares of Kaiser Aluminum stock opened at $74.45 on Tuesday. The firm has a fifty day simple moving average of $80.64 and a 200-day simple moving average of $71.59. The company has a current ratio of 2.70, a quick ratio of 1.30 and a debt-to-equity ratio of 1.39. Kaiser Aluminum Corporation has a 1-year low of $46.81 and a 1-year high of $97.00. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 19.14 and a beta of 1.51.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.72. Kaiser Aluminum had a net margin of 2.05% and a return on equity of 8.03%. The business had revenue of $823.10 million during the quarter, compared to analysts’ expectations of $786.70 million. On average, sell-side analysts expect that Kaiser Aluminum Corporation will post 5.14 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, July 25th. Kaiser Aluminum’s dividend payout ratio is presently 79.18%.

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.