Kaiser Aluminum Corp. (KALU) Sees Large Volume Increase
Kaiser Aluminum Corp. (NASDAQ:KALU) saw strong trading volume on Friday . 130,060 shares traded hands during mid-day trading, an increase of 2% from the previous session’s volume of 127,835 shares.The stock last traded at $85.67 and had previously closed at $85.17.
Several brokerages have weighed in on KALU. Credit Suisse Group AG set a $85.00 price target on Kaiser Aluminum Corp. and gave the stock a “hold” rating in a report on Wednesday, July 20th. Bank of America Corp. downgraded Kaiser Aluminum Corp. from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $94.00 to $92.00 in a report on Wednesday, July 20th. Zacks Investment Research downgraded Kaiser Aluminum Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 18th. Finally, Goldman Sachs Group Inc. began coverage on Kaiser Aluminum Corp. in a report on Thursday, May 19th. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $90.33.
The company has a 50 day moving average price of $85.90 and a 200-day moving average price of $85.07. The stock has a market capitalization of $1.50 billion and a PE ratio of 17.02.
Kaiser Aluminum Corp. (NASDAQ:KALU) last posted its earnings results on Wednesday, July 20th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by $0.36. During the same quarter last year, the firm posted $1.27 earnings per share. The company earned $335 million during the quarter, compared to analysts’ expectations of $351.72 million. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, analysts expect that Kaiser Aluminum Corp. will post $5.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Monday, July 25th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, July 21st. This represents a $1.80 annualized dividend and a yield of 2.14%.
A hedge fund recently bought a new stake in Kaiser Aluminum Corp. stock. Airain ltd purchased a new stake in Kaiser Aluminum Corp. (NASDAQ:KALU) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,059 shares of the company’s stock, valued at approximately $1,009,000. Airain ltd owned 0.07% of Kaiser Aluminum Corp. as of its most recent filing with the SEC.
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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