Kaiser Aluminum (NASDAQ:KALU) Hits New 12-Month High – Here’s What Happened

Kaiser Aluminum Corporation (NASDAQ:KALU) shares hit a new 52-week high during trading on Monday . The stock traded as high as $125.00 and last traded at $124.0810, with a volume of 17151 shares traded. The stock had previously closed at $123.07.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KALU. Weiss Ratings restated a “hold (c+)” rating on shares of Kaiser Aluminum in a report on Monday, December 29th. Zacks Research lowered shares of Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Wells Fargo & Company raised their price target on shares of Kaiser Aluminum from $90.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of Kaiser Aluminum from $82.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Finally, Wall Street Zen upgraded shares of Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 25th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $95.67.

Kaiser Aluminum Price Performance

The stock has a market cap of $2.05 billion, a PE ratio of 22.89 and a beta of 1.44. The stock’s fifty day moving average is $104.84 and its 200-day moving average is $89.02. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.48 and a quick ratio of 1.08.

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

Insider Buying and Selling

In other news, EVP Blain Tiffany sold 8,656 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $93.92, for a total transaction of $812,971.52. Following the completion of the transaction, the executive vice president directly owned 26,275 shares of the company’s stock, valued at approximately $2,467,748. The trade was a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Kaiser Aluminum

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of 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 acquiring an additional 279,231 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Kaiser Aluminum by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 817,743 shares of the industrial products company’s stock valued at $63,095,000 after purchasing an additional 4,743 shares during the last quarter. American Century Companies Inc. boosted its stake in Kaiser Aluminum by 9.8% during the 3rd quarter. American Century Companies Inc. now owns 588,720 shares of the industrial products company’s stock worth $45,426,000 after purchasing an additional 52,512 shares during the period. Wellington Management Group LLP boosted its stake in Kaiser Aluminum by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 502,446 shares of the industrial products company’s stock worth $38,769,000 after purchasing an additional 5,623 shares during the period. Finally, Tributary Capital Management LLC grew its position in Kaiser Aluminum by 92.5% during the 3rd 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. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

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.