Kaiser Aluminum Corporation (KALU) Given Average Rating of “Hold” by Brokerages
Shares of Kaiser Aluminum Corporation (NASDAQ:KALU) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $96.13.
Several brokerages recently issued reports on KALU. Deutsche Bank AG reissued a “buy” rating on shares of Kaiser Aluminum Corporation in a report on Saturday, June 24th. Cowen and Company downgraded shares of Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $96.00 to $97.00 in a report on Monday, August 7th. They noted that the move was a valuation call. BidaskClub downgraded shares of Kaiser Aluminum Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Friday, July 28th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $87.00 price target (up from $80.00) on shares of Kaiser Aluminum Corporation in a report on Tuesday, July 25th.
Kaiser Aluminum Corporation (KALU) traded down 1.35% on Tuesday, reaching $94.19. 92,435 shares of the company’s stock traded hands. Kaiser Aluminum Corporation has a 52-week low of $69.41 and a 52-week high of $98.72. The stock has a market capitalization of $1.59 billion, a PE ratio of 20.69 and a beta of 0.54. The firm’s 50-day moving average is $93.57 and its 200 day moving average is $84.39.
Kaiser Aluminum Corporation (NASDAQ:KALU) last announced its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.46. Kaiser Aluminum Corporation had a net margin of 5.87% and a return on equity of 11.71%. The firm had revenue of $356 million during the quarter, compared to the consensus estimate of $349.62 million. During the same period last year, the firm posted $1.02 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. Analysts forecast that Kaiser Aluminum Corporation will post $5.47 EPS for the current year.
Kaiser Aluminum Corporation declared that its Board of Directors has authorized a share buyback program on Monday, April 17th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Thursday, July 27th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Tuesday, July 25th. Kaiser Aluminum Corporation’s dividend payout ratio is presently 44.44%.
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In other Kaiser Aluminum Corporation news, CEO Jack A. Hockema sold 9,000 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $91.18, for a total value of $820,620.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Malcolm Donnan sold 5,115 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $95.39, for a total transaction of $487,919.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,714 shares of company stock valued at $1,748,706. Insiders own 3.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC increased its position in shares of Kaiser Aluminum Corporation by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 29,262 shares of the industrial products company’s stock worth $2,273,000 after buying an additional 613 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of Kaiser Aluminum Corporation during the fourth quarter worth $291,000. Dalton Greiner Hartman Maher & Co. increased its position in shares of Kaiser Aluminum Corporation by 3.5% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 179,025 shares of the industrial products company’s stock worth $14,304,000 after buying an additional 6,014 shares in the last quarter. Granite Investment Partners LLC increased its position in shares of Kaiser Aluminum Corporation by 31.3% in the first quarter. Granite Investment Partners LLC now owns 138,044 shares of the industrial products company’s stock worth $11,030,000 after buying an additional 32,947 shares in the last quarter. Finally, Investment Counselors of Maryland LLC increased its position in shares of Kaiser Aluminum Corporation by 13.1% in the first quarter. Investment Counselors of Maryland LLC now owns 222,547 shares of the industrial products company’s stock worth $17,782,000 after buying an additional 25,830 shares in the last quarter. 99.19% of the stock is owned by institutional investors.
About Kaiser Aluminum Corporation
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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