Kaiser Aluminum Corp. (KALU) Releases Quarterly Earnings Results
Kaiser Aluminum Corp. (NASDAQ:KALU) released its quarterly earnings data on Wednesday. The company reported $1.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by $0.25. Kaiser Aluminum Corp. had a net margin of 6.59% and a return on equity of 9.70%.
Shares of Kaiser Aluminum Corp. (NASDAQ:KALU) traded down 3.19% during midday trading on Wednesday, reaching $78.88. 337,247 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $84.53 and a 200 day moving average price of $86.35. The company has a market cap of $1.41 billion, a P/E ratio of 15.95 and a beta of 0.47. Kaiser Aluminum Corp. has a 12 month low of $70.14 and a 12 month high of $96.06.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, October 25th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, October 21st. This represents a $1.80 dividend on an annualized basis and a yield of 2.28%. Kaiser Aluminum Corp.’s payout ratio is 37.42%.
Several equities analysts have commented on KALU shares. Zacks Investment Research downgraded shares of Kaiser Aluminum Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 18th. Bank of America Corp. downgraded shares of Kaiser Aluminum Corp. from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $94.00 to $92.00 in a report on Wednesday, July 20th. Credit Suisse Group AG set a $85.00 price objective on shares of Kaiser Aluminum Corp. and gave the company a “hold” rating in a report on Wednesday, July 20th. Macquarie started coverage on shares of Kaiser Aluminum Corp. in a report on Tuesday, September 6th. They issued an “outperform” rating on the stock. Finally, Seaport Global Securities started coverage on shares of Kaiser Aluminum Corp. in a report on Friday, September 9th. They issued a “buy” rating and a $100.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $91.71.
Institutional investors have recently modified their holdings of the stock. Barclays PLC boosted its position in shares of Kaiser Aluminum Corp. by 400.2% in the second quarter. Barclays PLC now owns 2,526 shares of the company’s stock valued at $229,000 after buying an additional 2,021 shares during the period. ProShare Advisors LLC boosted its stake in Kaiser Aluminum Corp. by 2.3% in the second quarter. ProShare Advisors LLC now owns 2,568 shares of the company’s stock worth $232,000 after buying an additional 57 shares during the last quarter. Profund Advisors LLC boosted its stake in Kaiser Aluminum Corp. by 1.5% in the second quarter. Profund Advisors LLC now owns 3,137 shares of the company’s stock worth $284,000 after buying an additional 47 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in Kaiser Aluminum Corp. during the second quarter worth approximately $289,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in Kaiser Aluminum Corp. during the second quarter worth approximately $470,000. Institutional investors and hedge funds own 98.64% of the company’s stock.
About Kaiser Aluminum Corp.
Kaiser Aluminum Corporation is engaged in the production of semi-fabricated specialty aluminum products. The Company manufactures aluminum plate and sheet, and extruded and drawn products, primarily used in aerospace/high strength, automotive, general engineering and other industrial end market applications.
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