Public Employees Retirement Association of Colorado Has $10,857,000 Stake in Kaiser Aluminum Corp. (KALU)
Public Employees Retirement Association of Colorado cut its stake in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 120,082 shares of the company’s stock after selling 1,579 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Kaiser Aluminum Corp. were worth $10,857,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC boosted its position in Kaiser Aluminum Corp. by 70.7% in the second quarter. Acadian Asset Management LLC now owns 675,042 shares of the company’s stock worth $61,031,000 after buying an additional 279,517 shares during the last quarter. State Street Corp raised its stake in Kaiser Aluminum Corp. by 23.9% in the first quarter. State Street Corp now owns 618,212 shares of the company’s stock worth $52,262,000 after buying an additional 119,108 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Kaiser Aluminum Corp. by 14.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 529,176 shares of the company’s stock worth $44,737,000 after buying an additional 65,729 shares during the period. American Century Companies Inc. acquired a new stake in Kaiser Aluminum Corp. during the second quarter worth about $5,453,000. Finally, Bank of Montreal Can acquired a new stake in Kaiser Aluminum Corp. during the second quarter worth about $4,624,000. 98.66% of the stock is owned by institutional investors and hedge funds.
Kaiser Aluminum Corp. (NASDAQ:KALU) traded down 0.64% on Friday, hitting $80.35. 98,460 shares of the company were exchanged. Kaiser Aluminum Corp. has a 52-week low of $70.14 and a 52-week high of $96.06. The firm has a 50 day moving average of $84.86 and a 200-day moving average of $86.40. The stock has a market cap of $1.44 billion, a PE ratio of 16.24 and a beta of 0.47.
Kaiser Aluminum Corp. (NASDAQ:KALU) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by $0.36. The company earned $335 million during the quarter, compared to analyst estimates of $351.72 million. Kaiser Aluminum Corp. had a net margin of 6.59% and a return on equity of 9.70%. The company’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.27 earnings per share. On average, equities analysts expect that Kaiser Aluminum Corp. will post $5.23 earnings per share for the current fiscal year.
KALU has been the topic of a number of research reports. Bank of America Corp. lowered shares of Kaiser Aluminum Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $94.00 to $92.00 in a report on Wednesday, July 20th. Macquarie initiated coverage on shares of Kaiser Aluminum Corp. in a report on Tuesday, September 6th. They set an “outperform” rating on the stock. Credit Suisse Group AG set a $85.00 target price on shares of Kaiser Aluminum Corp. and gave the stock a “hold” rating in a report on Wednesday, July 20th. Zacks Investment Research lowered shares of Kaiser Aluminum Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Finally, Seaport Global Securities initiated coverage on shares of Kaiser Aluminum Corp. in a report on Friday, September 9th. They set a “buy” rating and a $100.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $91.71.
About Kaiser Aluminum Corp.
Kaiser Aluminum Corporation is engaged in the production of semi-fabricated specialty aluminum products. The Company manufactures aluminum plate and sheet, and extruded and drawn products, primarily used in aerospace/high strength, automotive, general engineering and other industrial end market applications.
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