Zacks Investment Research upgraded shares of Kaiser Aluminum (NASDAQ:KALU) from a sell rating to a hold rating in a research note released on Friday.
According to Zacks, “KAISER ALUMINUM is a leading producer of fabricated aluminum products for aerospace and high strength, general engineering, automotive, and custom industrial applications. Repeatedly acknowledged as Best in Class among its global customer base,Their 11 fabrication plants typically produce and ship more than 500 million pounds of product annually. “
Several other analysts have also commented on KALU. Cowen lowered shares of Kaiser Aluminum from an outperform rating to a market perform rating and raised their price target for the company from $96.00 to $97.00 in a research report on Monday, August 7th. They noted that the move was a valuation call. BidaskClub lowered shares of Kaiser Aluminum from a strong-buy rating to a buy rating in a research report on Wednesday, August 9th. Deutsche Bank lowered shares of Kaiser Aluminum from a buy rating to a hold rating and set a $104.00 price target on the stock. in a research report on Tuesday, October 17th. Morgan Stanley raised their price target on shares of Kaiser Aluminum from $87.00 to $101.00 and gave the company an equal weight rating in a research report on Thursday, November 16th. Finally, Credit Suisse Group raised their price target on shares of Kaiser Aluminum from $90.00 to $95.00 and gave the company a neutral rating in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $99.00.
Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.19). The firm had revenue of $332.80 million for the quarter, compared to analyst estimates of $335.37 million. Kaiser Aluminum had a net margin of 6.18% and a return on equity of 11.45%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.02 EPS. research analysts predict that Kaiser Aluminum will post 5.04 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, October 25th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, October 24th. This represents a $2.00 annualized dividend and a dividend yield of 2.03%. Kaiser Aluminum’s dividend payout ratio (DPR) is 41.32%.
In other news, VP Melinda C. Ellsworth sold 1,000 shares of Kaiser Aluminum stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $99.48, for a total value of $99,480.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jack A. Hockema sold 9,000 shares of Kaiser Aluminum stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $102.67, for a total transaction of $924,030.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,982 shares of company stock worth $1,637,622. Company insiders own 3.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Shell Asset Management Co. lifted its stake in shares of Kaiser Aluminum by 80.6% in the third quarter. Shell Asset Management Co. now owns 31,579 shares of the industrial products company’s stock worth $2,407,000 after buying an additional 14,089 shares in the last quarter. State Street Corp lifted its stake in shares of Kaiser Aluminum by 7.9% in the second quarter. State Street Corp now owns 686,950 shares of the industrial products company’s stock worth $60,811,000 after buying an additional 50,201 shares in the last quarter. Summit Global Investments lifted its stake in shares of Kaiser Aluminum by 29.5% in the second quarter. Summit Global Investments now owns 5,700 shares of the industrial products company’s stock worth $505,000 after buying an additional 1,300 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Kaiser Aluminum in the second quarter worth about $1,328,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Kaiser Aluminum by 1.1% in the second quarter. Victory Capital Management Inc. now owns 503,984 shares of the industrial products company’s stock worth $44,613,000 after buying an additional 5,577 shares in the last quarter. Institutional investors and hedge funds own 98.03% of the company’s stock.
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Kaiser Aluminum Company Profile
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The Company operates in the Fabricated Products segment. The Company’s Fabricated Products segment focuses on producing rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive and general engineering products that include consumer durables, electronics, electrical and machinery and equipment applications.
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