Zacks Investment Research lowered shares of Kaiser Aluminum Corporation (NASDAQ:KALU) from a hold rating to a sell rating in a report published on Monday.

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 research firms also recently issued reports on KALU. BidaskClub downgraded shares of Kaiser Aluminum Corporation from a buy rating to a hold rating in a report on Wednesday, June 28th. Cowen and Company downgraded shares of Kaiser Aluminum Corporation from an outperform rating to a market perform rating and increased their price objective for the company from $96.00 to $97.00 in a report on Monday, August 7th. They noted that the move was a valuation call. Deutsche Bank AG set a $100.00 price objective on shares of Kaiser Aluminum Corporation and gave the company a buy rating in a report on Monday, July 31st. Morgan Stanley reaffirmed an equal weight rating and set a $87.00 price objective (up from $80.00) on shares of Kaiser Aluminum Corporation in a report on Tuesday, July 25th. Finally, Credit Suisse Group increased their price objective on shares of Kaiser Aluminum Corporation from $90.00 to $95.00 and gave the company a neutral rating in a report on Friday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Kaiser Aluminum Corporation presently has an average rating of Hold and an average target price of $97.25.

Shares of Kaiser Aluminum Corporation (KALU) opened at 98.00 on Monday. The company has a market capitalization of $1.65 billion, a P/E ratio of 21.52 and a beta of 0.54. Kaiser Aluminum Corporation has a one year low of $69.41 and a one year high of $108.99. The firm has a 50-day moving average of $101.74 and a 200-day moving average of $91.68.

Kaiser Aluminum Corporation (NASDAQ:KALU) last posted its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.19). The company had revenue of $332.80 million for the quarter, compared to analysts’ expectations of $335.37 million. Kaiser Aluminum Corporation had a net margin of 6.18% and a return on equity of 11.45%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 earnings per share. Analysts forecast that Kaiser Aluminum Corporation will post $5.25 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, October 25th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Tuesday, October 24th. Kaiser Aluminum Corporation’s dividend payout ratio is currently 41.32%.

In other news, CEO Jack A. Hockema sold 9,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $102.67, for a total value of $924,030.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Del L. Miller sold 817 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $97.07, for a total transaction of $79,306.19. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,414 shares of company stock worth $2,538,238. Insiders own 3.00% of the company’s stock.

Large investors have recently bought and sold shares of the company. First Mercantile Trust Co. lifted its stake in shares of 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 worth $127,000 after buying an additional 20 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Kaiser Aluminum Corporation in the first quarter worth about $119,000. Ameritas Investment Partners Inc. purchased a new position in shares of Kaiser Aluminum Corporation in the first quarter worth about $122,000. Flinton Capital Management LLC lifted its stake in shares of 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 worth $162,000 after buying an additional 646 shares in the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in shares of Kaiser Aluminum Corporation by 58.3% in the second quarter. Riverhead Capital Management LLC now owns 1,899 shares of the industrial products company’s stock worth $168,000 after buying an additional 699 shares in the last quarter. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Kaiser Aluminum Corporation (NASDAQ:KALU)

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