Kaiser Aluminum Corp. (KALU) Trading 2.5% Higher
Kaiser Aluminum Corp. (NASDAQ:KALU) shares traded up 2.5% on Thursday . The company traded as high as $86.45 and last traded at $85.87, with a volume of 143,767 shares trading hands. The stock had previously closed at $83.77.
A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Kaiser Aluminum Corp. from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Wednesday, May 4th. Bank of America Corp. reaffirmed a “buy” rating on shares of Kaiser Aluminum Corp. in a research report on Friday, June 17th. Credit Suisse Group AG set a $85.00 target price on shares of Kaiser Aluminum Corp. and gave the company a “hold” rating in a research report on Wednesday, July 20th. Finally, Goldman Sachs Group Inc. assumed coverage on shares of Kaiser Aluminum Corp. in a research report on Thursday, May 19th. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $90.33.
The company’s 50-day moving average price is $85.90 and its 200 day moving average price is $85.07. The stock has a market capitalization of $1.50 billion and a P/E ratio of 17.02.
Kaiser Aluminum Corp. (NASDAQ:KALU) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.38 by $0.36. The firm had revenue of $335 million for the quarter, compared to the consensus estimate of $351.72 million. The business’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.27 earnings per share. On average, 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 was paid on Monday, August 15th. Investors of record on Monday, July 25th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.14%.
An institutional investor recently raised its position in Kaiser Aluminum Corp. stock. Bank of Montreal Can increased its position in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) by 82.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,163 shares of the company’s stock after buying an additional 8,188 shares during the period. Bank of Montreal Can owned about 0.10% of Kaiser Aluminum Corp. worth $1,520,000 at the end of the most recent 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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