Kaiser Aluminum (KALU) Upgraded to “Buy” by BidaskClub
BidaskClub upgraded shares of Kaiser Aluminum (NASDAQ:KALU) from a hold rating to a buy rating in a research report report published on Friday morning.
Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group upgraded Kaiser Aluminum from a hold rating to a buy rating and set a $123.00 price target on the stock in a report on Tuesday, October 23rd. Zacks Investment Research upgraded Kaiser Aluminum from a sell rating to a hold rating in a report on Thursday, October 25th. Finally, Goldman Sachs Group cut Kaiser Aluminum from a neutral rating to a sell rating and lowered their price target for the stock from $105.00 to $101.00 in a report on Monday, August 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Kaiser Aluminum presently has an average rating of Hold and an average target price of $107.75.
Shares of KALU stock opened at $91.95 on Friday. The company has a market cap of $1.57 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 1.01 and a beta of 0.89. Kaiser Aluminum has a 12-month low of $86.62 and a 12-month high of $119.66. The company has a quick ratio of 2.48, a current ratio of 3.50 and a debt-to-equity ratio of 0.49.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, October 25th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Wednesday, October 24th. Kaiser Aluminum’s dividend payout ratio is currently 43.22%.
In other Kaiser Aluminum news, VP Melinda C. Ellsworth sold 1,100 shares of the stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $95.36, for a total transaction of $104,896.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jack A. Hockema sold 4,500 shares of the stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $93.35, for a total value of $420,075.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,100 shares of company stock worth $675,586. Insiders own 3.20% of the company’s stock.
A number of large investors have recently made changes to their positions in KALU. TD Asset Management Inc. grew its holdings in Kaiser Aluminum by 186.7% during the 2nd quarter. TD Asset Management Inc. now owns 96,900 shares of the industrial products company’s stock valued at $10,088,000 after buying an additional 63,100 shares during the last quarter. First Trust Advisors LP grew its holdings in Kaiser Aluminum by 75.8% during the 2nd quarter. First Trust Advisors LP now owns 22,949 shares of the industrial products company’s stock valued at $2,389,000 after buying an additional 9,894 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Kaiser Aluminum by 0.6% during the 2nd quarter. Victory Capital Management Inc. now owns 497,539 shares of the industrial products company’s stock valued at $51,799,000 after buying an additional 3,167 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Kaiser Aluminum during the 2nd quarter valued at $369,000. Finally, Granite Investment Partners LLC grew its holdings in Kaiser Aluminum by 0.4% during the 2nd quarter. Granite Investment Partners LLC now owns 135,326 shares of the industrial products company’s stock valued at $14,089,000 after buying an additional 604 shares during the last quarter. Hedge funds and other institutional investors own 99.32% of the company’s stock.
About Kaiser Aluminum
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.
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