Kaiser Aluminum (NASDAQ:KALU) Hits New 12-Month High at $95.59

Kaiser Aluminum Co. (NASDAQ:KALU) shares hit a new 52-week high during trading on Monday . The stock traded as high as $95.59 and last traded at $94.69, with a volume of 6094 shares traded. The stock had previously closed at $94.92.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KALU. Benchmark reissued a “buy” rating and set a $84.00 price objective on shares of Kaiser Aluminum in a report on Friday, April 19th. UBS Group initiated coverage on Kaiser Aluminum in a research note on Tuesday, January 16th. They issued a “neutral” rating and a $67.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on Kaiser Aluminum from $68.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $77.00.

Kaiser Aluminum Stock Up 0.7 %

The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 27.59 and a beta of 1.38. The business’s 50-day moving average is $82.07 and its 200-day moving average is $70.05. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 1.56.

Kaiser Aluminum (NASDAQ:KALU) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.44. Kaiser Aluminum had a net margin of 1.85% and a return on equity of 8.40%. The company had revenue of $738.00 million for the quarter, compared to analyst estimates of $733.34 million. During the same period in the prior year, the business earned $0.99 EPS. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. As a group, equities analysts predict that Kaiser Aluminum Co. will post 3.65 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 25th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $3.08 annualized dividend and a yield of 3.22%. Kaiser Aluminum’s dividend payout ratio is presently 89.53%.

Institutional Investors Weigh In On Kaiser Aluminum

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. increased its holdings in Kaiser Aluminum by 12.0% in the third quarter. Victory Capital Management Inc. now owns 1,249,158 shares of the industrial products company’s stock worth $94,012,000 after buying an additional 134,073 shares during the last quarter. Norges Bank acquired a new stake in shares of Kaiser Aluminum in the fourth quarter valued at $7,415,000. Assenagon Asset Management S.A. raised its holdings in Kaiser Aluminum by 397.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 79,358 shares of the industrial products company’s stock worth $7,091,000 after purchasing an additional 63,396 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of Kaiser Aluminum by 105.5% during the 3rd quarter. First Eagle Investment Management LLC now owns 113,312 shares of the industrial products company’s stock worth $8,528,000 after buying an additional 58,171 shares during the period. Finally, Tributary Capital Management LLC boosted its position in Kaiser Aluminum by 23.6% during the 1st quarter. Tributary Capital Management LLC now owns 271,120 shares of the industrial products company’s stock worth $24,227,000 after acquiring an additional 51,834 shares during the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.

About Kaiser Aluminum

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.