Kaiser Aluminum Corp. (KALU) Stock Rating Upgraded by Zacks Investment Research
Kaiser Aluminum Corp. (NASDAQ:KALU) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday.
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. “
Other research analysts have also recently issued reports about the stock. TheStreet cut shares of Kaiser Aluminum Corp. from a “buy” rating to a “hold” rating in a research report on Friday, October 21st. Seaport Global Securities started coverage on Kaiser Aluminum Corp. in a research note on Friday, September 9th. They set a “buy” rating and a $100.00 price objective for the company. Macquarie started coverage on Kaiser Aluminum Corp. in a research note on Tuesday, September 6th. They set an “outperform” rating for the company. Credit Suisse Group AG set a $85.00 price objective on Kaiser Aluminum Corp. and gave the company a “hold” rating in a research note on Wednesday, July 20th. Finally, Bank of America Corp. lowered Kaiser Aluminum Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $94.00 to $92.00 in a research note on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Kaiser Aluminum Corp. currently has an average rating of “Hold” and an average price target of $93.33.
Shares of Kaiser Aluminum Corp. (NASDAQ:KALU) opened at 78.86 on Wednesday. The firm’s 50-day moving average is $79.02 and its 200-day moving average is $84.89. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 17.58 and a beta of 0.56. Kaiser Aluminum Corp. has a 52 week low of $69.41 and a 52 week high of $96.06.
Kaiser Aluminum Corp. (NASDAQ:KALU) last issued its quarterly earnings results on Wednesday, October 19th. The company reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by $0.25. Kaiser Aluminum Corp. had a net margin of 6.12% and a return on equity of 9.46%. The business had revenue of $321 million for the quarter, compared to the consensus estimate of $333.46 million. During the same quarter in the previous year, the business earned $1.07 earnings per share. The firm’s revenue was down 4.5% on a year-over-year basis. Equities research analysts predict that Kaiser Aluminum Corp. will post $4.77 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, October 25th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.28%. The ex-dividend date is Friday, October 21st. Kaiser Aluminum Corp.’s dividend payout ratio (DPR) is currently 40.72%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Kaiser Aluminum Corp. by 3.8% in the second quarter. Vanguard Group Inc. now owns 1,680,846 shares of the company’s stock valued at $151,966,000 after buying an additional 61,116 shares during the period. State Street Corp boosted its stake in Kaiser Aluminum Corp. by 13.4% in the second quarter. State Street Corp now owns 700,838 shares of the company’s stock valued at $63,359,000 after buying an additional 82,626 shares during the period. Acadian Asset Management LLC boosted its stake in Kaiser Aluminum Corp. by 70.7% in the second quarter. Acadian Asset Management LLC now owns 675,042 shares of the company’s stock valued at $61,031,000 after buying an additional 279,517 shares during the period. Macquarie Group Ltd. boosted its stake in Kaiser Aluminum Corp. by 1.8% in the second quarter. Macquarie Group Ltd. now owns 611,928 shares of the company’s stock valued at $55,324,000 after buying an additional 11,056 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Kaiser Aluminum Corp. by 14.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 529,176 shares of the company’s stock valued at $44,737,000 after buying an additional 65,729 shares during the period. Institutional investors and hedge funds own 98.08% of the company’s stock.
Kaiser Aluminum Corp. Company Profile
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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