Kaiser Aluminum (NASDAQ:KALU) Hits New 1-Year High at $95.59

Kaiser Aluminum Co. (NASDAQ:KALU)’s stock price hit a new 52-week high on Monday . The stock traded as high as $95.59 and last traded at $94.69, with a volume of 6094 shares traded. The stock had previously closed at $94.92.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KALU. Benchmark reissued a “buy” rating and set a $84.00 price target on shares of Kaiser Aluminum in a research report on Friday, April 19th. JPMorgan Chase & Co. raised their target price on shares of Kaiser Aluminum from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Finally, UBS Group assumed coverage on shares of Kaiser Aluminum in a report on Tuesday, January 16th. They issued a “neutral” rating and a $67.00 price target on the stock. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $77.00.

Kaiser Aluminum Price Performance

The company has a debt-to-equity ratio of 1.56, a current ratio of 2.66 and a quick ratio of 1.43. The stock has a fifty day simple moving average of $82.65 and a 200-day simple moving average of $70.23. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 26.30 and a beta of 1.37.

Kaiser Aluminum (NASDAQ:KALU) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.44. Kaiser Aluminum had a net margin of 1.85% and a return on equity of 8.40%. The firm had revenue of $738.00 million during the quarter, compared to analyst estimates of $733.34 million. During the same period in the previous year, the firm earned $0.99 EPS. The business’s quarterly revenue was down 8.7% on a year-over-year basis. On average, equities research analysts anticipate that Kaiser Aluminum Co. will post 3.65 EPS for the current year.

Kaiser Aluminum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 25th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Wednesday, April 24th. Kaiser Aluminum’s payout ratio is currently 89.53%.

Hedge Funds Weigh In On Kaiser Aluminum

Several institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its holdings in Kaiser Aluminum by 16.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,388 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 196 shares during the period. Harvest Investment Advisors LLC grew its stake in Kaiser Aluminum by 1.6% in the 4th quarter. Harvest Investment Advisors LLC now owns 17,489 shares of the industrial products company’s stock valued at $1,245,000 after acquiring an additional 280 shares during the period. Swiss National Bank increased its holdings in Kaiser Aluminum by 1.2% in the 3rd quarter. Swiss National Bank now owns 35,100 shares of the industrial products company’s stock worth $2,642,000 after acquiring an additional 400 shares in the last quarter. New York State Teachers Retirement System raised its position in Kaiser Aluminum by 8.1% during the first quarter. New York State Teachers Retirement System now owns 5,327 shares of the industrial products company’s stock worth $476,000 after acquiring an additional 400 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Kaiser Aluminum by 400.0% during the first quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 432 shares in the last quarter. Hedge funds and other institutional investors own 99.29% of the company’s stock.

About Kaiser Aluminum

Kaiser Aluminum Corporation, together with its subsidiaries, engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. It offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.