New York State Teachers Retirement System has reduced its stake in Kaiser Aluminum Corporation by 37.1 per cent during the first quarter, according to recent SEC filings. The institutional investor sold 2,552 shares, leaving it with 4,327 shares valued at approximately USD 262,000 by the end of the quarter.
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Several other institutional investors also adjusted their positions in Kaiser Aluminum. Jones Financial Companies LLLP initiated a new stake valued at around USD 52,000 in the fourth quarter. Charles Schwab Investment Management increased its holdings by 1.3 per cent, acquiring an additional 3,816 shares to hold 298,318 shares worth nearly USD 21 million. Raymond James Financial also entered the stock with a USD 2.2 million investment during the same period.
Amundi expanded its position by 196 per cent, now owning 8,934 shares valued at USD 629,000, while AlphaQuest LLC boosted its stake by 497 per cent, acquiring 651 shares worth USD 46,000. Hedge funds and institutional investors collectively own 99.29 per cent of Kaiser Aluminum’s stock.
On the market front, Kaiser Aluminum shares opened at USD 89.33 recently. The company reported a quick ratio of 1.27, a current ratio of 2.67, and a debt-to-equity ratio of 1.38.
In its latest earnings release on April 23, Kaiser Aluminum beat expectations with an EPS of USD 1.44, surpassing analysts’ estimates by USD 0.91. The company posted a return on equity of 7.02 per cent and a net margin of 1.43 per cent.
Revenue for the quarter was USD 777.4 million, slightly below analyst forecasts of USD 788 million, but still reflecting a 5.3 per cent increase year-over-year. Analysts project Kaiser Aluminum’s EPS to reach 5.14 for the current fiscal year.
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