New York State Common Retirement Fund Sells 2,315 Shares of Kaiser Aluminum Co. (NASDAQ:KALU)

New York State Common Retirement Fund cut its holdings in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 16.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,407 shares of the industrial products company’s stock after selling 2,315 shares during the period. New York State Common Retirement Fund owned 0.07% of Kaiser Aluminum worth $1,243,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Kaiser Aluminum by 2.7% in the second quarter. Vanguard Group Inc. now owns 1,883,302 shares of the industrial products company’s stock worth $232,569,000 after buying an additional 50,342 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Kaiser Aluminum by 9.2% during the third quarter. Victory Capital Management Inc. now owns 864,530 shares of the industrial products company’s stock worth $94,199,000 after purchasing an additional 72,692 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of Kaiser Aluminum by 1.6% during the second quarter. Macquarie Group Ltd. now owns 797,077 shares of the industrial products company’s stock worth $98,431,000 after purchasing an additional 12,936 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of Kaiser Aluminum by 7.8% during the second quarter. Silvercrest Asset Management Group LLC now owns 472,159 shares of the industrial products company’s stock worth $58,307,000 after purchasing an additional 34,275 shares during the last quarter. Finally, abrdn plc raised its holdings in shares of Kaiser Aluminum by 11.3% during the second quarter. abrdn plc now owns 454,859 shares of the industrial products company’s stock worth $56,210,000 after purchasing an additional 46,039 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

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

In other news, CEO Keith Harvey sold 500 shares of Kaiser Aluminum stock in a transaction dated Friday, November 5th. The shares were sold at an average price of $105.00, for a total value of $52,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jack A. Hockema sold 750 shares of the business’s stock in a transaction dated Thursday, November 18th. The stock was sold at an average price of $102.11, for a total transaction of $76,582.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,950 shares of company stock worth $409,127. Company insiders own 1.20% of the company’s stock.

KALU stock opened at $105.80 on Friday. The firm has a market cap of $1.68 billion, a PE ratio of -117.56 and a beta of 1.24. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.82 and a current ratio of 2.75. The firm’s fifty day moving average is $97.99 and its 200 day moving average is $109.62. Kaiser Aluminum Co. has a one year low of $84.78 and a one year high of $141.07.

Kaiser Aluminum (NASDAQ:KALU) last announced its 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 negative net margin of 0.68% and a positive return on equity of 5.65%. The company had revenue of $750.60 million during the quarter, compared to analyst estimates of $782.96 million. During the same quarter last year, the business earned $0.33 EPS. The firm’s revenue for the quarter was up 193.5% compared to the same quarter last year. Research analysts predict that Kaiser Aluminum Co. will post 2.96 earnings per share for the current fiscal year.

About Kaiser Aluminum

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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