Kaiser Aluminum (NASDAQ:KALU) Hits New 52-Week High – Here’s Why

Kaiser Aluminum Corporation (NASDAQ:KALU) reached a new 52-week high on Monday . The stock traded as high as $118.27 and last traded at $116.34, with a volume of 104407 shares trading hands. The stock had previously closed at $116.86.

Wall Street Analyst Weigh In

Several research firms recently weighed in on KALU. Wells Fargo & Company lifted their target price on shares of Kaiser Aluminum from $90.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Wall Street Zen raised Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 25th. Zacks Research raised Kaiser Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kaiser Aluminum in a research note on Monday, December 22nd. Finally, JPMorgan Chase & Co. raised their target price on Kaiser Aluminum from $82.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $95.67.

Kaiser Aluminum Trading Down 0.7%

The firm has a market cap of $1.89 billion, a P/E ratio of 21.11 and a beta of 1.51. The business’s 50-day moving average is $98.59 and its two-hundred day moving average is $85.96. The company has a current ratio of 2.48, a quick ratio of 1.08 and a debt-to-equity ratio of 1.29.

Kaiser Aluminum (NASDAQ:KALU) last posted its earnings results on Wednesday, April 2nd. The industrial products company reported $1.21 EPS for the quarter. The company had revenue of $765.40 million during the quarter. Kaiser Aluminum had a return on equity of 10.67% and a net margin of 2.85%. As a group, analysts expect that Kaiser Aluminum Corporation will post 5.14 earnings per share for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 24th were given a dividend of $0.77 per share. The ex-dividend date was Friday, October 24th. This represents a $3.08 annualized dividend and a dividend yield of 2.6%. Kaiser Aluminum’s dividend payout ratio (DPR) is 55.70%.

Insiders Place Their Bets

In related news, EVP Blain Tiffany sold 8,656 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $93.92, for a total transaction of $812,971.52. Following the completion of the sale, the executive vice president directly owned 26,275 shares in the company, valued at approximately $2,467,748. This trade represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Kaiser Aluminum

Hedge funds have recently made changes to their positions in the company. First Horizon Corp purchased a new position in shares of Kaiser Aluminum during the third quarter valued at $27,000. Hantz Financial Services Inc. lifted its position in shares of Kaiser Aluminum by 340.0% in the third quarter. Hantz Financial Services Inc. now owns 374 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 289 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Kaiser Aluminum by 475.0% during the second quarter. EverSource Wealth Advisors LLC now owns 414 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 342 shares in the last quarter. Quantbot Technologies LP acquired a new position in Kaiser Aluminum in the 2nd quarter valued at approximately $44,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Kaiser Aluminum by 130.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 605 shares of the industrial products company’s stock valued at $48,000 after buying an additional 343 shares during the period. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Kaiser Aluminum Company Profile

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.