Texas Permanent School Fund cut its holdings in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) by 7.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,427 shares of the industrial products company’s stock after selling 924 shares during the quarter. Texas Permanent School Fund’s holdings in Kaiser Aluminum were worth $1,221,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. NEXT Financial Group Inc purchased a new position in Kaiser Aluminum during the 3rd quarter worth approximately $124,000. Flinton Capital Management LLC increased its holdings in shares of Kaiser Aluminum by 54.3% during the 2nd quarter. Flinton Capital Management LLC now owns 1,836 shares of the industrial products company’s stock valued at $162,000 after purchasing an additional 646 shares in the last quarter. Invictus RG increased its holdings in shares of Kaiser Aluminum by 140.9% during the 3rd quarter. Invictus RG now owns 1,679 shares of the industrial products company’s stock valued at $173,000 after purchasing an additional 982 shares in the last quarter. Amalgamated Bank purchased a new position in shares of Kaiser Aluminum during the 2nd quarter valued at approximately $204,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Kaiser Aluminum during the 3rd quarter valued at approximately $228,000. 98.77% of the stock is owned by institutional investors.
Several equities analysts have recently weighed in on the stock. BidaskClub lowered shares of Kaiser Aluminum from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Zacks Investment Research lowered shares of Kaiser Aluminum from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Deutsche Bank lowered shares of Kaiser Aluminum from a “buy” rating to a “hold” rating and set a $104.00 target price for the company. in a report on Tuesday, October 17th. Morgan Stanley lifted their target price on shares of Kaiser Aluminum from $87.00 to $101.00 and gave the company an “equal weight” rating in a report on Thursday, November 16th. Finally, Credit Suisse Group lifted their target price on shares of Kaiser Aluminum from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $101.29.
Kaiser Aluminum Corp. (KALU) opened at $105.19 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.55 and a current ratio of 3.75. The firm has a market cap of $1,776.25, a P/E ratio of 21.73, a PEG ratio of 1.09 and a beta of 0.56. Kaiser Aluminum Corp. has a 1-year low of $74.56 and a 1-year high of $116.86.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 26th will be paid a $0.55 dividend. The ex-dividend date is Thursday, January 25th. This represents a $2.20 dividend on an annualized basis and a yield of 2.09%. This is a boost from Kaiser Aluminum’s previous quarterly dividend of $0.50. Kaiser Aluminum’s dividend payout ratio (DPR) is currently 45.45%.
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Kaiser Aluminum Profile
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The Company operates in the Fabricated Products segment. The Company’s Fabricated Products segment focuses on producing rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive and general engineering products that include consumer durables, electronics, electrical and machinery and equipment applications.
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