Kaiser Aluminum (NASDAQ:KALU) Reaches New 12-Month High After Analyst Upgrade

Kaiser Aluminum Corporation (NASDAQ:KALU) shares hit a new 52-week high during mid-day trading on Wednesday after UBS Group upgraded the stock to a hold rating. The stock traded as high as $182.90 and last traded at $181.88, with a volume of 67928 shares traded. The stock had previously closed at $175.92.

Several other analysts have also recently issued reports on KALU. Weiss Ratings raised shares of Kaiser Aluminum from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. KeyCorp increased their price target on shares of Kaiser Aluminum from $170.00 to $183.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Wells Fargo & Company lifted their price objective on Kaiser Aluminum from $125.00 to $137.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Wall Street Zen upgraded Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 18th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $142.00 price objective (up from $124.00) on shares of Kaiser Aluminum in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Kaiser Aluminum has an average rating of “Hold” and an average price target of $159.50.

Insiders Place Their Bets

In other news, Director Richard P. Grimley sold 1,524 shares of Kaiser Aluminum stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $171.52, for a total value of $261,396.48. Following the completion of the transaction, the director owned 4,578 shares in the company, valued at approximately $785,218.56. This trade represents a 24.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Iulian Gheorghe sold 175 shares of Kaiser Aluminum stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $174.22, for a total value of $30,488.50. Following the completion of the transaction, the senior vice president owned 4,448 shares of the company’s stock, valued at $774,930.56. The trade was a 3.79% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 76,731 shares of company stock worth $13,137,697. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Kaiser Aluminum

Several institutional investors have recently added to or reduced their stakes in KALU. State Street Corp lifted its stake in Kaiser Aluminum by 31.9% during the second quarter. State Street Corp now owns 1,154,415 shares of the industrial products company’s stock worth $92,238,000 after purchasing an additional 279,231 shares during the last quarter. Tributary Capital Management LLC lifted its stake in Kaiser Aluminum by 92.5% during the third quarter. Tributary Capital Management LLC now owns 500,418 shares of the industrial products company’s stock worth $38,612,000 after purchasing an additional 240,518 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Kaiser Aluminum during the third quarter worth approximately $13,111,000. Brightline Capital Management LLC purchased a new stake in Kaiser Aluminum during the fourth quarter worth approximately $19,296,000. Finally, Goldman Sachs Group Inc. lifted its stake in Kaiser Aluminum by 111.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 179,781 shares of the industrial products company’s stock worth $20,650,000 after purchasing an additional 94,874 shares during the last quarter. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Kaiser Aluminum Stock Performance

The firm has a 50 day moving average of $137.31 and a two-hundred day moving average of $121.24. The stock has a market cap of $2.95 billion, a PE ratio of 19.64 and a beta of 1.60. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.47 and a quick ratio of 1.14.

Kaiser Aluminum (NASDAQ:KALU) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported $3.74 earnings per share for the quarter, topping the consensus estimate of $1.96 by $1.78. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $948.50 million. Kaiser Aluminum had a return on equity of 17.00% and a net margin of 4.14%.The firm’s revenue was up 42.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.44 earnings per share. Research analysts predict that Kaiser Aluminum Corporation will post 8.69 EPS for the current fiscal year.

Kaiser Aluminum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, April 24th will be paid a $0.77 dividend. The ex-dividend date is Friday, April 24th. This represents a $3.08 dividend on an annualized basis and a yield of 1.7%. Kaiser Aluminum’s payout ratio is currently 33.55%.

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.