Kaiser Aluminum Co. (NASDAQ:KALU) to Issue Quarterly Dividend of $0.77

Kaiser Aluminum Co. (NASDAQ:KALU) declared a quarterly dividend on Monday, April 15th, RTT News reports. Shareholders of record on Thursday, April 25th will be given a dividend of 0.77 per share by the industrial products company on Wednesday, May 15th. This represents a $3.08 annualized dividend and a yield of 3.40%.

Kaiser Aluminum has increased its dividend payment by an average of 4.8% per year over the last three years. Kaiser Aluminum has a dividend payout ratio of 53.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kaiser Aluminum to earn $6.60 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 46.7%.

Kaiser Aluminum Price Performance

KALU opened at $90.47 on Wednesday. Kaiser Aluminum has a 12-month low of $53.67 and a 12-month high of $95.56. The company has a quick ratio of 1.39, a current ratio of 2.68 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $1.45 billion, a P/E ratio of 30.98 and a beta of 1.38. The stock has a fifty day moving average of $77.98 and a 200-day moving average of $68.89.

Kaiser Aluminum (NASDAQ:KALU) last released its earnings results on Thursday, February 22nd. The industrial products company reported $0.60 earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.94. The company had revenue of $722.00 million for the quarter, compared to analysts’ expectations of $716.01 million. Kaiser Aluminum had a return on equity of 8.32% and a net margin of 1.53%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.66) EPS. Equities analysts forecast that Kaiser Aluminum will post 3.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Kaiser Aluminum

Several hedge funds have recently bought and sold shares of KALU. State Street Corp raised its position in shares of Kaiser Aluminum by 30.6% in the first quarter. State Street Corp now owns 1,132,280 shares of the industrial products company’s stock valued at $106,615,000 after purchasing an additional 265,426 shares during the period. Norges Bank bought a new position in Kaiser Aluminum in the 4th quarter worth $9,886,000. Penn Capital Management Company LLC acquired a new position in Kaiser Aluminum during the 1st quarter worth $11,345,000. Northern Trust Corp boosted its holdings in Kaiser Aluminum by 57.6% during the first quarter. Northern Trust Corp now owns 290,976 shares of the industrial products company’s stock valued at $27,399,000 after acquiring an additional 106,312 shares during the period. Finally, BlackRock Inc. grew its position in shares of Kaiser Aluminum by 4.0% in the second quarter. BlackRock Inc. now owns 2,734,901 shares of the industrial products company’s stock valued at $195,928,000 after purchasing an additional 104,632 shares during the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KALU has been the topic of a number of research reports. UBS Group initiated coverage on shares of Kaiser Aluminum in a research note on Tuesday, January 16th. They issued a “neutral” rating and a $67.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Kaiser Aluminum from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.00.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation, together with its subsidiaries, engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. It offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.