Kaiser Aluminum Corp. (NASDAQ:KALU)’s share price dropped 2.3% on Friday . The stock traded as low as $83.48 and last traded at $83.57, with a volume of 54,743 shares changing hands. The stock had previously closed at $85.53.

KALU has been the topic of several research analyst reports. Credit Suisse Group AG set a $85.00 target price on Kaiser Aluminum Corp. and gave the company a “hold” rating in a research note on Wednesday, July 20th. Bank of America Corp. reaffirmed a “buy” rating on shares of Kaiser Aluminum Corp. in a research note on Friday, June 17th. Cowen and Company lifted their target price on Kaiser Aluminum Corp. from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, April 22nd. Zacks Investment Research raised Kaiser Aluminum Corp. from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research note on Wednesday, May 4th. Finally, Goldman Sachs Group Inc. initiated coverage on Kaiser Aluminum Corp. in a research note on Thursday, May 19th. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Kaiser Aluminum Corp. currently has a consensus rating of “Hold” and a consensus price target of $90.33.

The stock has a market capitalization of $1.49 billion and a price-to-earnings ratio of 16.88. The company’s 50 day moving average is $86.98 and its 200 day moving average is $84.45.

Kaiser Aluminum Corp. (NASDAQ:KALU) last released its earnings results on Wednesday, July 20th. The company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.38 by $0.36. The business earned $335 million during the quarter, compared to analysts’ expectations of $351.72 million. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 earnings per share. Equities analysts expect that Kaiser Aluminum Corp. will post $5.23 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, July 25th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, July 21st.

A number of institutional investors recently added to or reduced their stakes in KALU. Nationwide Fund Advisors raised its position in Kaiser Aluminum Corp. by 0.5% in the fourth quarter. Nationwide Fund Advisors now owns 12,367 shares of the company’s stock valued at $1,035,000 after buying an additional 66 shares during the last quarter. Comerica Bank raised its position in Kaiser Aluminum Corp. by 3.0% in the fourth quarter. Comerica Bank now owns 18,521 shares of the company’s stock valued at $1,459,000 after buying an additional 542 shares during the last quarter. Rhumbline Advisers raised its position in Kaiser Aluminum Corp. by 2.8% in the fourth quarter. Rhumbline Advisers now owns 29,502 shares of the company’s stock valued at $2,468,000 after buying an additional 805 shares during the last quarter. California Public Employees Retirement System raised its position in Kaiser Aluminum Corp. by 7.3% in the fourth quarter. California Public Employees Retirement System now owns 48,630 shares of the company’s stock valued at $4,068,000 after buying an additional 3,300 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Kaiser Aluminum Corp. by 82.1% in the fourth quarter. Bank of Montreal Can now owns 18,163 shares of the company’s stock valued at $1,520,000 after buying an additional 8,188 shares during the last quarter.

Kaiser Aluminum Corporation is engaged in the production of semi-fabricated specialty aluminum products. The Company manufactures aluminum plate and sheet, and extruded and drawn products, primarily used in aerospace/high strength, automotive, general engineering and other industrial end market applications.

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