Kaiser Aluminum Corporation (NASDAQ:KALU) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Kaiser Aluminum Corporation (NASDAQ:KALU) has received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $95.6667.

Several research analysts recently issued reports on KALU shares. Zacks Research raised shares of Kaiser Aluminum from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Wall Street Zen raised Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. JPMorgan Chase & Co. raised their price target on Kaiser Aluminum from $82.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Weiss Ratings upgraded Kaiser Aluminum from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Finally, Wells Fargo & Company increased their price objective on Kaiser Aluminum from $90.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th.

Kaiser Aluminum Stock Performance

Kaiser Aluminum stock traded up $2.18 during mid-day trading on Friday, reaching $91.80. 186,535 shares of the company were exchanged, compared to its average volume of 137,586. The firm’s 50-day simple moving average is $84.20 and its two-hundred day simple moving average is $79.96. Kaiser Aluminum has a twelve month low of $46.81 and a twelve month high of $97.63. The firm has a market cap of $1.49 billion, a PE ratio of 16.60 and a beta of 1.58. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.08 and a current ratio of 2.48.

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

Kaiser Aluminum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 24th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.4%. The ex-dividend date was Friday, October 24th. Kaiser Aluminum’s dividend payout ratio is presently 55.70%.

Insider Activity

In other news, EVP Blain Tiffany sold 8,656 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $93.92, for a total transaction of $812,971.52. Following the sale, the executive vice president owned 26,275 shares of the company’s stock, valued at $2,467,748. The trade was a 24.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

Institutional Trading of Kaiser Aluminum

Several large investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Kaiser Aluminum during the 1st quarter worth approximately $1,598,000. Voya Investment Management LLC raised its stake in shares of Kaiser Aluminum by 40.5% in the 1st quarter. Voya Investment Management LLC now owns 18,628 shares of the industrial products company’s stock valued at $1,129,000 after acquiring an additional 5,372 shares during the period. Virtu Financial LLC acquired a new position in shares of Kaiser Aluminum during the 1st quarter valued at $430,000. Nuveen LLC purchased a new stake in Kaiser Aluminum during the 1st quarter worth $2,622,000. Finally, Envestnet Asset Management Inc. increased its holdings in Kaiser Aluminum by 62.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 66,773 shares of the industrial products company’s stock valued at $5,335,000 after purchasing an additional 25,546 shares in the last quarter. 99.29% of the stock is currently 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.