New York State Common Retirement Fund Cuts Stake in Kaiser Aluminum Co. (NASDAQ:KALU)

New York State Common Retirement Fund lessened its stake in Kaiser Aluminum Co. (NASDAQ:KALU) by 16.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,407 shares of the industrial products company’s stock after selling 2,315 shares during the quarter. New York State Common Retirement Fund’s holdings in Kaiser Aluminum were worth $1,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in KALU. First Trust Advisors LP increased its holdings in shares of Kaiser Aluminum by 5.2% in the 1st quarter. First Trust Advisors LP now owns 4,288 shares of the industrial products company’s stock valued at $449,000 after purchasing an additional 211 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in Kaiser Aluminum by 98.1% in the 2nd quarter. Advisor Group Holdings Inc. now owns 4,959 shares of the industrial products company’s stock valued at $612,000 after acquiring an additional 2,456 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Kaiser Aluminum in the 2nd quarter valued at about $257,000. Citigroup Inc. grew its stake in Kaiser Aluminum by 405.2% in the 2nd quarter. Citigroup Inc. now owns 8,891 shares of the industrial products company’s stock valued at $1,098,000 after acquiring an additional 7,131 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Kaiser Aluminum by 11.0% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 2,775 shares of the industrial products company’s stock valued at $343,000 after acquiring an additional 275 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

In other news, Director Jack A. Hockema sold 750 shares of Kaiser Aluminum stock in a transaction that occurred on Thursday, November 18th. The shares were sold at an average price of $102.11, for a total transaction of $76,582.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jack A. Hockema sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 14th. The stock was sold at an average price of $105.36, for a total transaction of $105,360.00. The disclosure for this sale can be found here. Insiders sold 3,950 shares of company stock worth $409,127 over the last three months. Corporate insiders own 1.20% of the company’s stock.

Kaiser Aluminum stock opened at $105.80 on Friday. Kaiser Aluminum Co. has a 12-month low of $84.78 and a 12-month high of $141.07. The stock has a market capitalization of $1.68 billion, a P/E ratio of -117.56 and a beta of 1.24. The firm’s 50-day moving average is $97.99 and its two-hundred day moving average is $109.62. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.75 and a quick ratio of 1.82.

Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings results on Tuesday, October 19th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.75). Kaiser Aluminum had a positive return on equity of 5.65% and a negative net margin of 0.68%. The firm had revenue of $750.60 million for the quarter, compared to analyst estimates of $782.96 million. During the same period in the prior year, the business earned $0.33 earnings per share. Kaiser Aluminum’s revenue for the quarter was up 193.5% on a year-over-year basis. As a group, analysts forecast that Kaiser Aluminum Co. will post 2.96 EPS for the current year.

KALU has been the topic of a number of research reports. Zacks Investment Research cut shares of Kaiser Aluminum from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 20th. JPMorgan Chase & Co. cut shares of Kaiser Aluminum from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $117.00 to $98.00 in a research note on Friday, December 10th.

Kaiser Aluminum Profile

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

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

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