Kaiser Aluminum Corp. Plans Quarterly Dividend of $0.60 (NASDAQ:KALU)
Kaiser Aluminum Corp. (NASDAQ:KALU) declared a quarterly dividend on Monday, July 15th, NASDAQ reports. Stockholders of record on Thursday, July 25th will be paid a dividend of 0.60 per share by the industrial products company on Thursday, August 15th. This represents a $2.40 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Wednesday, July 24th.
Kaiser Aluminum has raised its dividend payment by an average of 11.2% annually over the last three years and has increased its dividend every year for the last 7 years. Kaiser Aluminum has a dividend payout ratio of 36.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Kaiser Aluminum to earn $7.78 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 30.8%.
Shares of Kaiser Aluminum stock opened at $96.31 on Tuesday. Kaiser Aluminum has a 52 week low of $83.29 and a 52 week high of $119.66. The company has a fifty day simple moving average of $94.59. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 14.89 and a beta of 1.03. The company has a current ratio of 3.29, a quick ratio of 2.14 and a debt-to-equity ratio of 0.50.
In related news, COO Keith Harvey sold 1,000 shares of the stock in a transaction dated 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Malcolm Donnan sold 5,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $100.00, for a total value of $500,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,050 shares of company stock worth $1,083,105. 1.70% of the stock is owned by corporate insiders.
Several equities analysts have recently commented on the company. ValuEngine raised XCel Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. BidaskClub lowered Ames National from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. Finally, Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $108.60.
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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