Texas Permanent School Fund Corp Purchases 2,319 Shares of Kaiser Aluminum Co. (NASDAQ:KALU)

Texas Permanent School Fund Corp increased its position in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 16.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,168 shares of the industrial products company’s stock after acquiring an additional 2,319 shares during the period. Texas Permanent School Fund Corp owned about 0.10% of Kaiser Aluminum worth $1,421,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KALU. National Bank of Canada FI acquired a new position in Kaiser Aluminum during the 2nd quarter worth about $32,000. GAMMA Investing LLC lifted its holdings in Kaiser Aluminum by 400.0% during the 1st quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock worth $48,000 after buying an additional 432 shares during the period. EntryPoint Capital LLC lifted its stake in shares of Kaiser Aluminum by 79.7% in the 1st quarter. EntryPoint Capital LLC now owns 861 shares of the industrial products company’s stock valued at $77,000 after purchasing an additional 382 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Kaiser Aluminum by 941.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 906 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 819 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Kaiser Aluminum in the 1st quarter valued at about $132,000. Institutional investors own 99.29% of the company’s stock.

Analyst Ratings Changes

Separately, Benchmark boosted their price objective on Kaiser Aluminum from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, July 12th.

Kaiser Aluminum Stock Performance

KALU stock opened at $71.28 on Friday. Kaiser Aluminum Co. has a 12-month low of $53.67 and a 12-month high of $102.42. The company has a quick ratio of 1.42, a current ratio of 2.55 and a debt-to-equity ratio of 1.57. The business has a 50 day moving average of $76.00 and a 200-day moving average of $84.99. The firm has a market cap of $1.15 billion, a PE ratio of 20.58 and a beta of 1.33.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.29). Kaiser Aluminum had a net margin of 1.37% and a return on equity of 6.84%. The firm had revenue of $773.40 million during the quarter, compared to analysts’ expectations of $773.89 million. During the same quarter in the previous year, the company posted $1.26 EPS. Kaiser Aluminum’s revenue for the quarter was down 5.0% on a year-over-year basis. As a group, sell-side analysts expect that Kaiser Aluminum Co. will post 3.04 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th were given a dividend of $0.77 per share. The ex-dividend date was Thursday, July 25th. This represents a $3.08 annualized dividend and a dividend yield of 4.32%. Kaiser Aluminum’s dividend payout ratio is currently 89.53%.

Insider Buying and Selling

In other Kaiser Aluminum news, CEO Keith Harvey acquired 2,588 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average price of $77.23 per share, for a total transaction of $199,871.24. Following the completion of the transaction, the chief executive officer now owns 103,550 shares of the company’s stock, valued at approximately $7,997,166.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by company insiders.

Kaiser Aluminum Profile

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.