Kaiser Aluminum Corporation (KALU) Sets New 12-Month High at $98.82

Kaiser Aluminum Corporation (NASDAQ:KALU) shares reached a new 52-week high on Tuesday . The stock traded as high as $98.82 and last traded at $98.63, with a volume of 103,120 shares. The stock had previously closed at $98.28.

Several research analysts have recently weighed in on KALU shares. BidaskClub cut Kaiser Aluminum Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Bank of America Corporation boosted their price target on Kaiser Aluminum Corporation from $79.00 to $85.00 and gave the stock an “underperform” rating in a research note on Friday, July 21st. Deutsche Bank AG set a $100.00 price target on Kaiser Aluminum Corporation and gave the stock a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Friday, July 28th. Finally, Cowen and Company cut Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $96.00 to $97.00 in a research note on Monday, August 7th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $96.13.

The stock has a market capitalization of $1.65 billion, a P/E ratio of 21.50 and a beta of 0.54. The company has a 50 day moving average of $96.20 and a 200 day moving average of $86.09.

Kaiser Aluminum Corporation (NASDAQ:KALU) last released its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.01 by $0.46. The business had revenue of $356 million for the quarter, compared to analyst estimates of $349.62 million. Kaiser Aluminum Corporation had a net margin of 5.87% and a return on equity of 11.71%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 earnings per share. On average, equities research analysts forecast that Kaiser Aluminum Corporation will post $5.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Thursday, July 27th were given a $0.50 dividend. The ex-dividend date was Tuesday, July 25th. This represents a $2.00 annualized dividend and a dividend yield of 2.04%. Kaiser Aluminum Corporation’s dividend payout ratio is presently 44.44%.

In other news, VP Mark Krouse sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $96.50, for a total value of $144,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Carolyn Bartholomew sold 1,000 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $92.00, for a total transaction of $92,000.00. Following the completion of the sale, the director now owns 14,344 shares in the company, valued at $1,319,648. The disclosure for this sale can be found here. Insiders sold 21,714 shares of company stock worth $2,036,826 over the last quarter. Company insiders own 3.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in KALU. Teachers Advisors LLC grew its position in shares of Kaiser Aluminum Corporation by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 29,262 shares of the industrial products company’s stock valued at $2,273,000 after purchasing an additional 613 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Kaiser Aluminum Corporation by 4.8% in the first quarter. Great West Life Assurance Co. Can now owns 24,761 shares of the industrial products company’s stock valued at $1,977,000 after purchasing an additional 1,143 shares during the last quarter. First Trust Advisors LP grew its position in shares of Kaiser Aluminum Corporation by 69.3% in the first quarter. First Trust Advisors LP now owns 30,799 shares of the industrial products company’s stock valued at $2,461,000 after purchasing an additional 12,610 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Kaiser Aluminum Corporation by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 338,868 shares of the industrial products company’s stock valued at $27,075,000 after purchasing an additional 5,069 shares during the last quarter. Finally, Comerica Bank grew its position in shares of Kaiser Aluminum Corporation by 1.6% in the first quarter. Comerica Bank now owns 19,420 shares of the industrial products company’s stock valued at $1,642,000 after purchasing an additional 313 shares during the last quarter. Institutional investors and hedge funds own 98.04% of the company’s stock.

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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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