Kaiser Aluminum Corporation (KALU) Receives Consensus Recommendation of “Buy” from Brokerages
Kaiser Aluminum Corporation (NASDAQ:KALU) has earned an average rating of “Buy” from the ten research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $96.13.
Several equities research analysts have issued reports on the company. Deutsche Bank AG reaffirmed a “buy” rating on shares of Kaiser Aluminum Corporation in a research note on Saturday, June 24th. Zacks Investment Research raised Kaiser Aluminum Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. BidaskClub cut Kaiser Aluminum Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Morgan Stanley reissued an “equal weight” rating and set a $87.00 target price (up from $80.00) on shares of Kaiser Aluminum Corporation in a research note on Tuesday, July 25th. Finally, Cowen and Company downgraded Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $96.00 to $97.00 in a report on Monday, August 7th. They noted that the move was a valuation call.
In related news, CEO Jack A. Hockema sold 9,000 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $91.18, for a total value of $820,620.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John Malcolm Donnan sold 5,115 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $95.39, for a total value of $487,919.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,714 shares of company stock worth $2,036,826. Corporate insiders own 3.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in KALU. Acrospire Investment Management LLC acquired a new stake in Kaiser Aluminum Corporation in the 1st quarter valued at $112,000. SG Americas Securities LLC acquired a new stake in shares of Kaiser Aluminum Corporation during the first quarter valued at about $119,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Kaiser Aluminum Corporation during the first quarter valued at about $122,000. First Mercantile Trust Co. grew its stake in shares of Kaiser Aluminum Corporation by 1.4% during the second quarter. First Mercantile Trust Co. now owns 1,430 shares of the industrial products company’s stock valued at $127,000 after acquiring an additional 20 shares in the last quarter. Finally, Flinton Capital Management LLC grew its stake in shares of Kaiser Aluminum Corporation by 54.3% during the second quarter. Flinton Capital Management LLC now owns 1,836 shares of the industrial products company’s stock valued at $162,000 after acquiring an additional 646 shares in the last quarter. Hedge funds and other institutional investors own 98.04% of the company’s stock.
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Kaiser Aluminum Corporation (NASDAQ:KALU) traded down 1.92% during trading on Friday, hitting $97.01. The stock had a trading volume of 109,508 shares. The company’s 50 day moving average is $96.38 and its 200-day moving average is $86.26. Kaiser Aluminum Corporation has a 12 month low of $69.41 and a 12 month high of $99.70. The company has a market cap of $1.63 billion, a PE ratio of 21.31 and a beta of 0.54.
Kaiser Aluminum Corporation (NASDAQ:KALU) last announced its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.46. Kaiser Aluminum Corporation had a return on equity of 11.71% and a net margin of 5.87%. The firm had revenue of $356 million for the quarter, compared to the consensus estimate of $349.62 million. During the same quarter last year, the business posted $1.02 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts predict that Kaiser Aluminum Corporation will post $5.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Thursday, July 27th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, July 25th. Kaiser Aluminum Corporation’s dividend payout ratio is presently 44.44%.
Kaiser Aluminum Corporation 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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