Zacks Investment Research cut shares of Kaiser Aluminum Corporation (NASDAQ:KALU) from a hold rating to a sell rating in a report released on Monday, October 23rd.
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 have also recently commented on KALU. Cowen and Company cut shares of Kaiser Aluminum Corporation from an outperform rating to a market perform rating and lifted their price objective for the company from $96.00 to $97.00 in a research note on Monday, August 7th. They noted that the move was a valuation call. BidaskClub cut shares of Kaiser Aluminum Corporation from a strong-buy rating to a buy rating in a research note on Wednesday, August 9th. Deutsche Bank AG set a $100.00 price target on shares of Kaiser Aluminum Corporation and gave the stock a buy rating in a report on Monday, July 31st. Morgan Stanley reissued an equal weight rating and issued a $87.00 price target (up previously from $80.00) on shares of Kaiser Aluminum Corporation in a report on Tuesday, July 25th. Finally, Bank of America Corporation boosted their price target on shares of Kaiser Aluminum Corporation from $79.00 to $85.00 and gave the stock an underperform rating in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and an average price target of $97.25.
Shares of Kaiser Aluminum Corporation (NASDAQ:KALU) opened at $93.94 on Monday. The firm has a market cap of $1,587.96, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 1.24 and a beta of 0.56. Kaiser Aluminum Corporation has a 12-month low of $74.56 and a 12-month high of $108.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.55 and a current ratio of 3.75.
Kaiser Aluminum Corporation (NASDAQ:KALU) last released its earnings results 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 Corporation had a return on equity of 11.45% and a net margin of 6.18%. The company had revenue of $332.80 million for the quarter, compared to analysts’ expectations of $335.37 million. During the same period in the prior year, the firm posted $1.02 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. equities analysts expect that Kaiser Aluminum Corporation will post 5.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, October 25th will be given a $0.50 dividend. The ex-dividend date is Tuesday, October 24th. This represents a $2.00 dividend on an annualized basis and a yield of 2.13%. Kaiser Aluminum Corporation’s payout ratio is currently 41.32%.
In other news, Director Alfred E. Osborne, Jr. sold 2,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $94.56, for a total transaction of $189,120.00. Following the sale, the director now owns 15,622 shares of the company’s stock, valued at $1,477,216.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolyn Bartholomew sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $99.00, for a total transaction of $99,000.00. Following the completion of the sale, the director now directly owns 13,344 shares in the company, valued at approximately $1,321,056. The disclosure for this sale can be found here. Insiders have sold 18,982 shares of company stock worth $1,925,742 in the last three months. Corporate insiders own 3.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in KALU. SG Americas Securities LLC purchased a new position in Kaiser Aluminum Corporation in the first quarter valued at approximately $119,000. Ameritas Investment Partners Inc. purchased a new position in Kaiser Aluminum Corporation in the first quarter valued at approximately $122,000. NEXT Financial Group Inc purchased a new position in Kaiser Aluminum Corporation in the third quarter valued at approximately $124,000. First Mercantile Trust Co. increased its stake in Kaiser Aluminum Corporation 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 purchasing an additional 20 shares during the last quarter. Finally, Flinton Capital Management LLC increased its stake in Kaiser Aluminum Corporation 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 purchasing an additional 646 shares during the last quarter. Institutional investors own 98.03% of the company’s stock.
About Kaiser Aluminum Corporation
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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