Zacks Investment Research upgraded shares of Kaiser Aluminum (NASDAQ:KALU) from a hold rating to a buy rating in a research report report published on Tuesday morning, Zacks.com reports. The firm currently has $102.00 price objective on the industrial products company’s stock.
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. “
A number of other brokerages have also recently weighed in on KALU. BidaskClub upgraded Kaiser Aluminum from a sell rating to a hold rating in a research note on Wednesday, July 17th. ValuEngine cut Kaiser Aluminum from a hold rating to a sell rating in a research note on Tuesday, July 9th. Finally, Goldman Sachs Group upgraded Kaiser Aluminum from a sell rating to a neutral rating and set a $97.00 price objective for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $107.33.
Shares of KALU stock opened at $86.18 on Tuesday. Kaiser Aluminum has a twelve month low of $83.29 and a twelve month high of $114.99. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 14.12 and a beta of 1.05. The stock has a fifty day simple moving average of $93.92 and a two-hundred day simple moving average of $98.65. The company has a current ratio of 3.63, a quick ratio of 2.34 and a debt-to-equity ratio of 0.53.
Kaiser Aluminum (NASDAQ:KALU) last issued its earnings results on Wednesday, July 24th. The industrial products company reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.07. The business had revenue of $375.00 million during the quarter, compared to analysts’ expectations of $388.25 million. Kaiser Aluminum had a return on equity of 14.23% and a net margin of 5.96%. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.68 EPS. Research analysts predict that Kaiser Aluminum will post 7.2 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 25th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Wednesday, July 24th. Kaiser Aluminum’s dividend payout ratio (DPR) is currently 37.09%.
In other Kaiser Aluminum news, CEO Jack A. Hockema sold 12,500 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $95.96, for a total value of $1,199,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Keith Harvey sold 500 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $90.00, for a total value of $45,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,050 shares of company stock valued at $2,333,191 over the last 90 days. 1.70% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd raised its stake in Kaiser Aluminum by 567.2% in the second quarter. WINTON GROUP Ltd now owns 66,138 shares of the industrial products company’s stock valued at $6,456,000 after buying an additional 56,225 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Kaiser Aluminum in the first quarter valued at about $283,000. Oppenheimer & Co. Inc. purchased a new stake in Kaiser Aluminum in the first quarter valued at about $524,000. Fisher Asset Management LLC raised its stake in Kaiser Aluminum by 2.6% in the second quarter. Fisher Asset Management LLC now owns 186,810 shares of the industrial products company’s stock valued at $18,235,000 after buying an additional 4,797 shares during the last quarter. Finally, Systematic Financial Management LP raised its stake in Kaiser Aluminum by 1.2% in the first quarter. Systematic Financial Management LP now owns 150,883 shares of the industrial products company’s stock valued at $15,802,000 after buying an additional 1,754 shares during the last quarter. Institutional investors own 96.15% of the company’s stock.
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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