Kaiser Aluminum (NASDAQ:KALU) Reaches New 12-Month High – Here’s Why

Kaiser Aluminum Corporation (NASDAQ:KALU)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $99.71 and last traded at $98.4750, with a volume of 53577 shares changing hands. The stock had previously closed at $96.55.

Analyst Upgrades and Downgrades

KALU has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Kaiser Aluminum from $82.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Wells Fargo & Company lifted their price objective 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. Weiss Ratings raised shares of Kaiser Aluminum from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Zacks Research raised shares of Kaiser Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen upgraded shares of Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.67.

Kaiser Aluminum Price Performance

The stock’s 50 day moving average is $86.37 and its two-hundred day moving average is $81.20. The stock has a market capitalization of $1.59 billion, a PE ratio of 17.78 and a beta of 1.58. 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 announced its quarterly earnings data on Wednesday, April 2nd. The industrial products company reported $1.21 EPS for the quarter. Kaiser Aluminum had a net margin of 2.85% and a return on equity of 10.67%. The company had revenue of $765.40 million for the quarter. As a group, sell-side analysts forecast that Kaiser Aluminum Corporation will post 5.14 earnings per share for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 24th were paid a $0.77 dividend. The ex-dividend date was Friday, October 24th. This represents a $3.08 dividend on an annualized basis and a yield of 3.1%. Kaiser Aluminum’s dividend payout ratio (DPR) is currently 55.70%.

Insider Transactions at Kaiser Aluminum

In other news, EVP Blain Tiffany sold 8,656 shares of the company’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. This represents a 24.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kaiser Aluminum

Several institutional investors have recently added to or reduced their stakes in KALU. Cetera Investment Advisers increased its stake in Kaiser Aluminum by 7.3% in the first quarter. Cetera Investment Advisers now owns 4,217 shares of the industrial products company’s stock valued at $256,000 after purchasing an additional 287 shares during the last quarter. Leisure Capital Management boosted its holdings in shares of Kaiser Aluminum by 32.6% in the 1st quarter. Leisure Capital Management now owns 13,142 shares of the industrial products company’s stock valued at $797,000 after buying an additional 3,230 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kaiser Aluminum by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 299,274 shares of the industrial products company’s stock valued at $18,142,000 after buying an additional 956 shares in the last quarter. Headlands Technologies LLC grew its position in shares of Kaiser Aluminum by 128.5% in the 1st quarter. Headlands Technologies LLC now owns 3,338 shares of the industrial products company’s stock valued at $202,000 after buying an additional 1,877 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Kaiser Aluminum during the 1st quarter worth $430,000. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Kaiser Aluminum Company Profile

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.