Zacks Investment Research upgraded shares of Kaiser Aluminum (NASDAQ:KALU) from a hold rating to a buy rating in a report released on Thursday, Zacks.com reports. The brokerage currently has $108.00 price target on the industrial products company’s stock.
According to Zacks, “Kaiser Aluminum is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The Company’s North American facilities produce value-added sheet, plate, extrusions, rod, bar, tube, and wire products, adhering to traditions of quality, innovation, and service. Kaiser Aluminum is headquartered in Foothill Ranch, California. “
KALU has been the subject of several other research reports. BidaskClub raised Kaiser Aluminum from a sell rating to a hold rating in a report on Wednesday, July 17th. ValuEngine downgraded Kaiser Aluminum from a hold rating to a sell rating in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $110.67.
Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.07. Kaiser Aluminum had a return on equity of 14.23% and a net margin of 5.96%. The business had revenue of $375.00 million during the quarter, compared to the consensus estimate of $388.25 million. During the same quarter last year, the firm posted $1.68 EPS. The company’s quarterly revenue was down 9.6% on a year-over-year basis. Equities research analysts expect that Kaiser Aluminum will post 7.2 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.55%. The ex-dividend date is Wednesday, July 24th. Kaiser Aluminum’s dividend payout ratio is 37.09%.
In other news, COO Keith Harvey sold 1,000 shares of Kaiser Aluminum stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $94.94, for a total transaction of $94,940.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jack A. Hockema sold 12,500 shares of Kaiser Aluminum stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $95.96, for a total value of $1,199,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,550 shares of company stock valued at $2,378,315 in the last ninety days. Insiders own 1.70% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Kaiser Aluminum during the fourth quarter worth $28,875,000. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Kaiser Aluminum by 6.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 317,334 shares of the industrial products company’s stock worth $33,234,000 after buying an additional 18,738 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Kaiser Aluminum by 2.3% during the first quarter. OppenheimerFunds Inc. now owns 312,489 shares of the industrial products company’s stock worth $32,727,000 after buying an additional 6,946 shares in the last quarter. Rothschild & Co. Asset Management US Inc. lifted its holdings in shares of Kaiser Aluminum by 1.5% during the second quarter. Rothschild & Co. Asset Management US Inc. now owns 300,813 shares of the industrial products company’s stock worth $29,362,000 after buying an additional 4,361 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Kaiser Aluminum by 2.6% during the second quarter. Fisher Asset Management LLC now owns 186,810 shares of the industrial products company’s stock worth $18,235,000 after buying an additional 4,797 shares in the last quarter. 97.11% of the stock is owned by institutional investors.
Kaiser Aluminum Company Profile
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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