Louisiana State Employees Retirement System Cuts Position in Kaiser Aluminum Co. (NASDAQ:KALU)

Louisiana State Employees Retirement System lessened its position in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,700 shares of the industrial products company’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Kaiser Aluminum were worth $558,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Kaiser Aluminum by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,894,114 shares of the industrial products company’s stock valued at $169,258,000 after buying an additional 6,363 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Kaiser Aluminum by 1.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 826,985 shares of the industrial products company’s stock valued at $72,692,000 after buying an additional 8,830 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Kaiser Aluminum by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 760,500 shares of the industrial products company’s stock valued at $66,846,000 after buying an additional 16,148 shares in the last quarter. Tributary Capital Management LLC grew its holdings in Kaiser Aluminum by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 271,976 shares of the industrial products company’s stock valued at $23,907,000 after buying an additional 856 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Kaiser Aluminum by 358.0% during the 2nd quarter. American Century Companies Inc. now owns 250,809 shares of the industrial products company’s stock valued at $22,046,000 after buying an additional 196,045 shares in the last quarter. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Kaiser Aluminum Price Performance

Shares of Kaiser Aluminum stock opened at $78.48 on Wednesday. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 27.16 and a beta of 1.32. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.36 and a current ratio of 2.60. The stock has a 50 day moving average price of $71.63 and a 200-day moving average price of $82.20. Kaiser Aluminum Co. has a one year low of $54.59 and a one year high of $102.42.

Kaiser Aluminum (NASDAQ:KALU) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.16). The company had revenue of $748.00 million during the quarter, compared to analysts’ expectations of $793.30 million. Kaiser Aluminum had a return on equity of 6.92% and a net margin of 1.59%. Kaiser Aluminum’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 EPS. Equities analysts expect that Kaiser Aluminum Co. will post 2.63 EPS for the current year.

Kaiser Aluminum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Friday, October 25th. Kaiser Aluminum’s dividend payout ratio is currently 106.57%.

Analyst Ratings Changes

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

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.