Kaiser Aluminum (NASDAQ:KALU) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Kaiser Aluminum (NASDAQ:KALU) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

KALU has been the topic of several other reports. Wall Street Zen raised shares of Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 18th. Wells Fargo & Company increased their price objective on shares of Kaiser Aluminum from $125.00 to $137.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 15th. KeyCorp increased their price objective on shares of Kaiser Aluminum from $170.00 to $183.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $142.00 price target (up from $124.00) on shares of Kaiser Aluminum in a report on Thursday, April 30th. Finally, UBS Group initiated coverage on shares of Kaiser Aluminum in a report on Tuesday, May 5th. They set a “neutral” rating and a $176.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $159.50.

Kaiser Aluminum Stock Performance

Shares of KALU stock opened at $179.42 on Tuesday. Kaiser Aluminum has a one year low of $68.22 and a one year high of $183.00. The company’s 50-day moving average is $141.07 and its 200 day moving average is $123.96. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 19.54 and a beta of 1.60. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.14 and a current ratio of 2.47.

Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $3.74 EPS for the quarter, beating the consensus estimate of $1.96 by $1.78. Kaiser Aluminum had a net margin of 4.14% and a return on equity of 17.00%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $948.50 million. During the same period in the prior year, the firm posted $1.44 EPS. Kaiser Aluminum’s revenue for the quarter was up 42.4% on a year-over-year basis. Sell-side analysts expect that Kaiser Aluminum will post 8.69 EPS for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, April 24th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, April 24th. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 33.55%.

Insider Buying and Selling

In related news, CFO Neal E. West sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $121.72, for a total value of $608,600.00. Following the transaction, the chief financial officer owned 12,775 shares of the company’s stock, valued at approximately $1,554,973. This trade represents a 28.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brett Wilcox sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $174.44, for a total transaction of $2,616,600.00. Following the completion of the transaction, the director directly owned 9,887 shares in the company, valued at approximately $1,724,688.28. The trade was a 60.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 76,731 shares of company stock valued at $13,137,697 in the last 90 days. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Kaiser Aluminum

A number of institutional investors and hedge funds have recently made changes to their positions in KALU. Allspring Global Investments Holdings LLC purchased a new position in Kaiser Aluminum during the fourth quarter valued at approximately $5,018,000. Citigroup Inc. lifted its holdings in Kaiser Aluminum by 127.3% during the third quarter. Citigroup Inc. now owns 34,456 shares of the industrial products company’s stock valued at $2,659,000 after purchasing an additional 19,294 shares in the last quarter. First National Bank of Omaha purchased a new position in Kaiser Aluminum during the third quarter valued at approximately $603,000. AlphaQuest LLC lifted its holdings in Kaiser Aluminum by 1,096.2% during the third quarter. AlphaQuest LLC now owns 22,453 shares of the industrial products company’s stock valued at $1,732,000 after purchasing an additional 20,576 shares in the last quarter. Finally, Bright Futures Wealth Management LLC. purchased a new position in Kaiser Aluminum during the third quarter valued at approximately $908,000. Hedge funds and other institutional investors own 99.29% of the company’s stock.

About Kaiser Aluminum

Kaiser Aluminum Corporation is a U.S.-based producer of semi‐fabricated aluminum products, serving a diverse range of industrial and specialty markets. The company’s offerings include extruded, rolled, and forged aluminum products designed to meet stringent performance requirements in sectors such as aerospace, automotive, defense, electronics, and general engineering. By focusing on high‐value applications, Kaiser Aluminum aims to deliver lightweight, durable solutions that contribute to efficiency and innovation across its customer base.

Operationally, Kaiser Aluminum maintains a network of smelters, extrusion plants, and rolling mills located primarily in North America.