Analysts predict that Kaiser Aluminum Corp. (NASDAQ:KALU) will post sales of $356.99 million for the current quarter, according to Zacks. Three analysts have issued estimates for Kaiser Aluminum’s earnings, with estimates ranging from $345.80 million to $366.04 million. Kaiser Aluminum reported sales of $332.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The company is expected to announce its next earnings results on Tuesday, February 20th.
According to Zacks, analysts expect that Kaiser Aluminum will report full-year sales of $356.99 million for the current year, with estimates ranging from $1.39 billion to $1.41 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.48 billion per share, with estimates ranging from $1.37 billion to $1.53 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Kaiser Aluminum.
Several research firms have weighed in on KALU. Deutsche Bank cut Kaiser Aluminum from a “buy” rating to a “hold” rating and set a $104.00 target price for the company. in a research note on Tuesday, October 17th. Zacks Investment Research cut Kaiser Aluminum from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Cowen set a $97.00 price target on Kaiser Aluminum and gave the company a “hold” rating in a research note on Thursday, October 12th. Credit Suisse Group increased their price target on Kaiser Aluminum from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, October 20th. Finally, Morgan Stanley increased their price target on Kaiser Aluminum from $87.00 to $101.00 and gave the company an “equal weight” rating in a research note on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $101.29.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 26th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from Kaiser Aluminum’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, January 25th. Kaiser Aluminum’s dividend payout ratio is presently 41.32%.
In other news, VP Melinda C. Ellsworth sold 1,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $99.48, for a total value of $99,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in KALU. NEXT Financial Group Inc bought a new position in shares of Kaiser Aluminum in the 3rd quarter valued at $124,000. Flinton Capital Management LLC increased its holdings in Kaiser Aluminum by 54.3% in the second quarter. Flinton Capital Management LLC now owns 1,836 shares of the industrial products company’s stock valued at $162,000 after purchasing an additional 646 shares during the period. Riverhead Capital Management LLC increased its holdings in Kaiser Aluminum by 58.3% in the second quarter. Riverhead Capital Management LLC now owns 1,899 shares of the industrial products company’s stock valued at $168,000 after purchasing an additional 699 shares during the period. Invictus RG increased its holdings in Kaiser Aluminum by 140.9% in the third quarter. Invictus RG now owns 1,679 shares of the industrial products company’s stock valued at $173,000 after purchasing an additional 982 shares during the period. Finally, Amalgamated Bank acquired a new stake in Kaiser Aluminum in the second quarter valued at $204,000.
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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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