Kaiser Aluminum (KALU) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Kaiser Aluminum (NASDAQ:KALU) from a sell rating to a hold rating in a research report report published on Friday morning.
According to Zacks, “KAISER ALUMINUM is a leading producer of fabricated aluminum products for aerospace and high strength, general engineering, automotive, and custom industrial applications. Repeatedly acknowledged as Best in Class among its global customer base,Their 11 fabrication plants typically produce and ship more than 500 million pounds of product annually. “
Several other analysts also recently weighed in on the company. Morgan Stanley upped their price objective on Kaiser Aluminum from $87.00 to $101.00 and gave the stock an equal weight rating in a research report on Thursday, November 16th. Credit Suisse Group upped their price objective on Kaiser Aluminum from $90.00 to $95.00 and gave the stock a neutral rating in a research report on Friday, October 20th. Deutsche Bank downgraded Kaiser Aluminum from a buy rating to a hold rating and set a $104.00 price objective for the company. in a research report on Tuesday, October 17th. Cowen set a $97.00 price objective on Kaiser Aluminum and gave the stock a hold rating in a research report on Thursday, October 12th. Finally, BidaskClub upgraded Kaiser Aluminum from a buy rating to a strong-buy rating in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $99.00.
Kaiser Aluminum (NASDAQ KALU) traded up $0.55 during trading hours on Friday, hitting $97.41. The stock had a trading volume of 115,100 shares, compared to its average volume of 146,617. The company has a current ratio of 3.75, a quick ratio of 2.55 and a debt-to-equity ratio of 0.47. Kaiser Aluminum has a 1 year low of $74.56 and a 1 year high of $108.99. The company has a market cap of $1,646.60, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.54.
Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.19). Kaiser Aluminum had a return on equity of 11.45% and a net margin of 6.18%. The business had revenue of $332.80 million for the quarter, compared to the consensus estimate of $335.37 million. During the same quarter in the prior year, the company earned $1.02 earnings per share. Kaiser Aluminum’s quarterly revenue was up 3.8% compared to the same quarter last year. analysts expect that Kaiser Aluminum will post 5.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, October 25th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, October 24th. This represents a $2.00 dividend on an annualized basis and a yield of 2.05%. Kaiser Aluminum’s payout ratio is presently 41.32%.
In other Kaiser Aluminum news, CEO Jack A. Hockema sold 9,000 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $102.67, for a total value of $924,030.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carolyn Bartholomew sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $99.00, for a total value of $99,000.00. Following the completion of the transaction, the director now directly owns 13,344 shares of the company’s stock, valued at approximately $1,321,056. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,982 shares of company stock valued at $1,736,622. Insiders own 3.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. NEXT Financial Group Inc acquired a new stake in shares of Kaiser Aluminum in the third quarter valued at about $124,000. First Mercantile Trust Co. increased its stake in shares of Kaiser Aluminum by 1.4% in the second quarter. First Mercantile Trust Co. now owns 1,430 shares of the industrial products company’s stock valued at $127,000 after buying an additional 20 shares during the period. Invictus RG increased its stake in shares of 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 buying an additional 982 shares during the period. Flinton Capital Management LLC increased its stake in shares of 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 buying an additional 646 shares during the period. Finally, Riverhead Capital Management LLC increased its stake in shares of 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 buying an additional 699 shares during the period. 98.03% of the stock is owned by institutional investors and hedge funds.
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About Kaiser Aluminum
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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