Kaiser Aluminum (NASDAQ:KALU) Sets New 52-Week High – Here’s Why

Kaiser Aluminum Corporation (NASDAQ:KALU)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $183.00 and last traded at $180.39, with a volume of 260360 shares. The stock had previously closed at $180.33.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KALU shares. Wells Fargo & Company upped their price objective on shares of Kaiser Aluminum from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 15th. Weiss Ratings upgraded shares of Kaiser Aluminum from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $142.00 target price (up from $124.00) on shares of Kaiser Aluminum in a report on Thursday, April 30th. UBS Group began coverage on shares of Kaiser Aluminum in a report on Tuesday, May 5th. They issued a “neutral” rating and a $176.00 target price for the company. Finally, Zacks Research downgraded shares of Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $159.50.

Kaiser Aluminum Price Performance

The firm has a market capitalization of $2.93 billion, a P/E ratio of 19.54 and a beta of 1.60. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.47 and a quick ratio of 1.14. The stock’s fifty day simple moving average is $141.07 and its 200 day simple moving average is $123.96.

Kaiser Aluminum (NASDAQ:KALU) last announced its earnings results on Wednesday, April 22nd. The industrial products company reported $3.74 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $1.78. Kaiser Aluminum had a net margin of 4.14% and a return on equity of 17.00%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $948.50 million. During the same period in the previous year, the company posted $1.44 earnings per share. The firm’s revenue was up 42.4% on a year-over-year basis. On average, equities research analysts predict that Kaiser Aluminum Corporation will post 8.69 EPS for the current year.

Kaiser Aluminum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, April 24th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, April 24th. This represents a $3.08 annualized dividend and a dividend yield of 1.7%. Kaiser Aluminum’s dividend payout ratio is 33.55%.

Insider Activity

In other news, CEO Keith Harvey sold 47,001 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $175.09, for a total transaction of $8,229,405.09. Following the transaction, the chief executive officer owned 97,339 shares in the company, valued at $17,043,085.51. This represents a 32.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brett Wilcox sold 15,000 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $174.44, for a total transaction of $2,616,600.00. Following the transaction, the director owned 9,887 shares in the company, valued at approximately $1,724,688.28. This trade represents a 60.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 76,731 shares of company stock valued at $13,137,697. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kaiser Aluminum

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Horizon Corp acquired a new position in Kaiser Aluminum in the 3rd quarter worth approximately $27,000. Hantz Financial Services Inc. increased its holdings in Kaiser Aluminum by 340.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 374 shares of the industrial products company’s stock worth $29,000 after buying an additional 289 shares during the period. Farther Finance Advisors LLC increased its holdings in Kaiser Aluminum by 389.3% in the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the industrial products company’s stock worth $31,000 after buying an additional 218 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Kaiser Aluminum by 475.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 414 shares of the industrial products company’s stock worth $33,000 after buying an additional 342 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in Kaiser Aluminum by 408.3% in the 4th quarter. Global Retirement Partners LLC now owns 366 shares of the industrial products company’s stock worth $42,000 after buying an additional 294 shares during the period. Institutional investors and hedge funds own 99.29% of the company’s stock.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation is a U.S.-based producer of semi‐fabricated aluminum products, serving a diverse range of industrial and specialty markets. The company’s offerings include extruded, rolled, and forged aluminum products designed to meet stringent performance requirements in sectors such as aerospace, automotive, defense, electronics, and general engineering. By focusing on high‐value applications, Kaiser Aluminum aims to deliver lightweight, durable solutions that contribute to efficiency and innovation across its customer base.

Operationally, Kaiser Aluminum maintains a network of smelters, extrusion plants, and rolling mills located primarily in North America.