Zacks Investment Research upgraded shares of Kaiser Aluminum (NASDAQ:KALU) from a sell rating to a hold rating in a report issued on Wednesday.
According to Zacks, “Kaiser Aluminum is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The Company’s North American facilities produce value-added sheet, plate, extrusions, rod, bar, tube, and wire products, adhering to traditions of quality, innovation, and service. Kaiser Aluminum is headquartered in Foothill Ranch, California. “
Separately, BidaskClub raised Kaiser Aluminum from a hold rating to a buy rating in a research note on Friday, December 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $108.43.
KALU stock opened at $108.88 on Wednesday. The stock has a market capitalization of $1.79 billion, a P/E ratio of 16.83 and a beta of 0.98. Kaiser Aluminum has a 52 week low of $83.29 and a 52 week high of $119.66. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.20 and a quick ratio of 2.48.
Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings results on Wednesday, February 20th. The industrial products company reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.22. The business had revenue of $389.00 million during the quarter, compared to the consensus estimate of $389.90 million. Kaiser Aluminum had a return on equity of 14.49% and a net margin of 5.78%. Kaiser Aluminum’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 earnings per share. On average, sell-side analysts predict that Kaiser Aluminum will post 7.11 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 15th. Shareholders of record on Friday, January 25th were paid a dividend of $0.60 per share. This is an increase from Kaiser Aluminum’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Thursday, January 24th. This represents a $2.40 annualized dividend and a yield of 2.20%. Kaiser Aluminum’s payout ratio is presently 37.09%.
In other Kaiser Aluminum news, CEO Jack A. Hockema sold 4,500 shares of the business’s stock in a transaction dated Thursday, January 10th. The stock was sold at an average price of $94.82, for a total transaction of $426,690.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Quantamental Technologies LLC bought a new stake in shares of Kaiser Aluminum during the fourth quarter worth about $26,000. BlueMountain Capital Management LLC bought a new stake in shares of Kaiser Aluminum during the third quarter worth about $121,000. LS Investment Advisors LLC grew its holdings in shares of Kaiser Aluminum by 285.9% during the fourth quarter. LS Investment Advisors LLC now owns 1,914 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 1,418 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Kaiser Aluminum during the third quarter worth about $203,000. Finally, Paloma Partners Management Co bought a new stake in shares of Kaiser Aluminum during the third quarter worth about $207,000. 97.70% of the stock is owned by hedge funds and other institutional investors.
Kaiser Aluminum Company Profile
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.
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