Municipal Employees Retirement System of Michigan Increases Position in Kaiser Aluminum Corporation (KALU)

Municipal Employees Retirement System of Michigan lifted its position in shares of Kaiser Aluminum Corporation (NASDAQ:KALU) by 41.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,080 shares of the industrial products company’s stock after buying an additional 2,350 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Kaiser Aluminum were worth $833,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KALU. Teachers Advisors LLC increased its stake in Kaiser Aluminum by 3.2% in the 1st quarter. Teachers Advisors LLC now owns 30,195 shares of the industrial products company’s stock worth $2,413,000 after purchasing an additional 933 shares during the period. Bank of America Corp DE increased its stake in Kaiser Aluminum by 23.1% in the 1st quarter. Bank of America Corp DE now owns 56,393 shares of the industrial products company’s stock worth $4,505,000 after purchasing an additional 10,579 shares during the period. State of Alaska Department of Revenue increased its stake in Kaiser Aluminum by 77.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,432 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 1,502 shares during the period. Aperio Group LLC increased its stake in Kaiser Aluminum by 3.0% in the 2nd quarter. Aperio Group LLC now owns 16,990 shares of the industrial products company’s stock worth $1,504,000 after purchasing an additional 494 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its stake in Kaiser Aluminum by 24.1% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 148,647 shares of the industrial products company’s stock worth $13,158,000 after purchasing an additional 28,864 shares during the period. 99.67% of the stock is currently owned by institutional investors.

A number of equities analysts have commented on the company. Deutsche Bank AG cut Kaiser Aluminum from a “buy” rating to a “hold” rating and set a $104.00 price target on the stock. in a research note on Tuesday, October 17th. Zacks Investment Research cut Kaiser Aluminum from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. BidaskClub cut Kaiser Aluminum from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Cowen Inc set a $97.00 price target on Kaiser Aluminum and gave the stock a “hold” rating in a research note on Thursday, October 12th. Finally, Credit Suisse Group lifted their price target on Kaiser Aluminum from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Kaiser Aluminum currently has a consensus rating of “Hold” and an average price target of $99.00.

In other news, Director Carolyn Bartholomew sold 1,000 shares of Kaiser Aluminum stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $99.00, for a total value of $99,000.00. Following the sale, the director now directly owns 13,344 shares in the company, valued at approximately $1,321,056. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jack A. Hockema sold 9,000 shares of Kaiser Aluminum stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $102.67, for a total value of $924,030.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,982 shares of company stock worth $1,736,622. Corporate insiders own 3.00% of the company’s stock.

Shares of Kaiser Aluminum Corporation (NASDAQ:KALU) opened at $95.37 on Monday. The firm has a market capitalization of $1,612.13, a P/E ratio of 18.48, a PEG ratio of 1.26 and a beta of 0.56. Kaiser Aluminum Corporation has a 1 year low of $74.56 and a 1 year high of $108.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.75 and a quick ratio of 2.55.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.19). The business had revenue of $332.80 million during the quarter, compared to the consensus estimate of $335.37 million. Kaiser Aluminum had a return on equity of 11.45% and a net margin of 6.18%. Kaiser Aluminum’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.02 earnings per share. equities research analysts anticipate that Kaiser Aluminum Corporation will post 5.04 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, October 25th were given a $0.50 dividend. The ex-dividend date was Tuesday, October 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.10%. Kaiser Aluminum’s dividend payout ratio is currently 41.32%.

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About Kaiser Aluminum

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

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