Kaiser Aluminum (NASDAQ:KALU) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Kaiser Aluminum (NASDAQ:KALU) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

KALU has been the topic of a number of other reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Kaiser Aluminum in a report on Tuesday, July 21st. UBS Group increased their target price on shares of Kaiser Aluminum from $176.00 to $179.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. KeyCorp raised their target price on shares of Kaiser Aluminum from $170.00 to $183.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. restated an “underweight” rating and set a $142.00 price target (up from $124.00) on shares of Kaiser Aluminum in a research report on Thursday, April 30th. Finally, Wells Fargo & Company upped their price target on shares of Kaiser Aluminum from $158.00 to $169.00 and gave the stock an “underweight” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $168.25.

Kaiser Aluminum Stock Performance

KALU opened at $159.72 on Wednesday. The business’s 50 day moving average is $175.40 and its 200-day moving average is $152.05. The stock has a market cap of $2.61 billion, a PE ratio of 11.84 and a beta of 1.59. The company has a current ratio of 2.50, a quick ratio of 1.17 and a debt-to-equity ratio of 1.10. Kaiser Aluminum has a twelve month low of $71.44 and a twelve month high of $195.96.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $5.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $2.87. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.12 billion. Kaiser Aluminum had a return on equity of 24.71% and a net margin of 5.49%.The business’s revenue was up 52.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 earnings per share. On average, analysts predict that Kaiser Aluminum will post 10.63 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 24th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, July 24th. Kaiser Aluminum’s dividend payout ratio is 22.83%.

Hedge Funds Weigh In On Kaiser Aluminum

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Kaiser Aluminum by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 2,117,791 shares of the industrial products company’s stock valued at $243,249,000 after purchasing an additional 5,823 shares during the period. State Street Corp boosted its position in shares of Kaiser Aluminum by 31.9% in the second quarter. State Street Corp now owns 1,154,415 shares of the industrial products company’s stock worth $92,238,000 after buying an additional 279,231 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Kaiser Aluminum by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 831,652 shares of the industrial products company’s stock worth $95,528,000 after buying an additional 13,909 shares during the period. Wellington Management Group LLP grew its holdings in shares of Kaiser Aluminum by 1.1% during the third quarter. Wellington Management Group LLP now owns 502,446 shares of the industrial products company’s stock valued at $38,769,000 after buying an additional 5,623 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Kaiser Aluminum by 16.8% during the fourth quarter. Bank of New York Mellon Corp now owns 198,354 shares of the industrial products company’s stock valued at $22,783,000 after buying an additional 28,495 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.

About Kaiser Aluminum

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.