Kaiser Aluminum Corp. (KALU) Price Target Raised to $92.00
Kaiser Aluminum Corp. (NASDAQ:KALU) had its target price raised by equities researchers at Cowen and Company from $90.00 to $92.00 in a research note issued to investors on Wednesday. The firm currently has a “market perform” rating on the industrial products company’s stock. Cowen and Company’s target price would indicate a potential upside of 9.94% from the company’s previous close.
A number of other equities analysts have also weighed in on KALU. Zacks Investment Research lowered shares of Kaiser Aluminum Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, December 27th. TheStreet lowered shares of Kaiser Aluminum Corp. from a “b” rating to a “c” rating in a research report on Tuesday, January 17th. Bank of America Corp restated an “underperform” rating and set a $77.00 target price on shares of Kaiser Aluminum Corp. in a research report on Thursday, January 12th. Finally, Sidoti upgraded shares of Kaiser Aluminum Corp. from a “neutral” rating to a “buy” rating and set a $109.00 target price for the company in a research report on Monday, March 20th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $92.38.
Kaiser Aluminum Corp. (NASDAQ:KALU) traded up 7.32% on Wednesday, reaching $83.68. 638,107 shares of the company traded hands. The stock’s 50-day moving average is $78.49 and its 200-day moving average is $79.54. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 16.44 and a beta of 0.57. Kaiser Aluminum Corp. has a 1-year low of $69.41 and a 1-year high of $96.06.
Kaiser Aluminum Corp. (NASDAQ:KALU) last issued its earnings results on Wednesday, April 19th. The industrial products company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.40. Kaiser Aluminum Corp. had a net margin of 6.12% and a return on equity of 9.46%. The firm earned $355.30 million during the quarter, compared to analyst estimates of $353.30 million. During the same quarter in the prior year, the business earned $1.51 earnings per share. Kaiser Aluminum Corp.’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities research analysts expect that Kaiser Aluminum Corp. will post $4.51 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Thursday, April 27th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Tuesday, April 25th. Kaiser Aluminum Corp.’s payout ratio is 45.25%.
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In other Kaiser Aluminum Corp. news, VP Ray Parkinson sold 1,200 shares of the stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $78.16, for a total transaction of $93,792.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.80% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of KALU. California State Teachers Retirement System boosted its position in shares of Kaiser Aluminum Corp. by 0.8% in the third quarter. California State Teachers Retirement System now owns 37,538 shares of the industrial products company’s stock valued at $3,247,000 after buying an additional 300 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Kaiser Aluminum Corp. by 39.2% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 38,539 shares of the industrial products company’s stock valued at $3,333,000 after buying an additional 10,850 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Kaiser Aluminum Corp. during the third quarter valued at about $260,000. Stevens Capital Management LP acquired a new position in shares of Kaiser Aluminum Corp. during the third quarter valued at about $612,000. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of Kaiser Aluminum Corp. by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,990 shares of the industrial products company’s stock valued at $345,000 after buying an additional 70 shares during the last quarter. Institutional investors own 96.70% of the company’s stock.
Kaiser Aluminum Corp. 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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