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Nov 17, 2023

State Board of Administration of Florida Retirement System Makes New Investment in Kaiser Aluminum Co. (NASDAQ:KALU)

State Board of Administration of Florida Retirement System acquired a new

State Board of Administration of Florida Retirement System acquired a new position in shares of Kaiser Aluminum Co. (NASDAQ:KALU - Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,775 shares of the industrial products company's stock, valued at approximately $211,000.

Several other institutional investors also recently modified their holdings of KALU. National Bank of Canada FI acquired a new stake in shares of Kaiser Aluminum during the 4th quarter worth approximately $58,000. Point72 Hong Kong Ltd acquired a new stake in Kaiser Aluminum in the 2nd quarter valued at $80,000. Captrust Financial Advisors boosted its stake in Kaiser Aluminum by 76.1% in the 1st quarter. Captrust Financial Advisors now owns 1,016 shares of the industrial products company's stock valued at $96,000 after buying an additional 439 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Kaiser Aluminum by 14.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,655 shares of the industrial products company's stock valued at $102,000 after buying an additional 206 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Kaiser Aluminum by 57.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,578 shares of the industrial products company's stock valued at $158,000 after buying an additional 940 shares in the last quarter. Institutional investors and hedge funds own 99.65% of the company's stock.

KALU has been the topic of several recent analyst reports. StockNews.com initiated coverage on Kaiser Aluminum in a research note on Thursday, May 18th. They issued a "sell" rating on the stock. The Goldman Sachs Group reduced their price objective on Kaiser Aluminum from $80.00 to $70.00 and set a "sell" rating on the stock in a research note on Monday, February 27th. JPMorgan Chase & Co. began coverage on Kaiser Aluminum in a research note on Monday, May 8th. They issued a "neutral" rating and a $69.00 price objective on the stock. Wolfe Research lowered Kaiser Aluminum from a "peer perform" rating to an "underperform" rating and set a $67.00 price objective on the stock. in a research note on Wednesday, April 12th. Finally, Benchmark reduced their price objective on Kaiser Aluminum from $105.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, April 21st. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Kaiser Aluminum presently has a consensus rating of "Hold" and an average target price of $72.50.

KALU stock opened at $65.43 on Tuesday. The company has a market cap of $1.05 billion, a P/E ratio of -47.41 and a beta of 1.28. Kaiser Aluminum Co. has a twelve month low of $56.79 and a twelve month high of $104.64. The company has a quick ratio of 1.29, a current ratio of 2.61 and a debt-to-equity ratio of 1.70. The business has a fifty day moving average of $65.89 and a 200-day moving average of $77.73.

Kaiser Aluminum (NASDAQ:KALU - Get Rating) last released its quarterly earnings data on Thursday, April 27th. The industrial products company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.58. The business had revenue of $808.00 million during the quarter, compared to the consensus estimate of $810.25 million. Kaiser Aluminum had a negative return on equity of 3.35% and a negative net margin of 0.65%. The firm's revenue was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 earnings per share. As a group, equities research analysts expect that Kaiser Aluminum Co. will post 3.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Tuesday, April 25th were issued a $0.77 dividend. The ex-dividend date of this dividend was Monday, April 24th. This represents a $3.08 annualized dividend and a dividend yield of 4.71%. Kaiser Aluminum's dividend payout ratio (DPR) is currently -223.19%.

Kaiser Aluminum Corp. engages in the manufacture and sale of semi-fabricated specialty aluminum products. The firm caters to the aerospace, general engineering, automotive, and custom industrial applications industries. Its products include plate, sheet, coil, hard alloy shapes, soft alloy extrusions, seamless and structural extruded, drawn tube, hard alloy rod, bar, wire and forge stock.

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