Kaiser Aluminum (KALU) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Kaiser Aluminum (NASDAQ:KALU) from a sell rating to a hold rating in a research report sent to investors on Friday.
According to Zacks, “KAISER ALUMINUM is a leading producer of fabricated aluminum products for aerospace and high strength, general engineering, automotive, and custom industrial applications. Repeatedly acknowledged as Best in Class among its global customer base,Their 11 fabrication plants typically produce and ship more than 500 million pounds of product annually. “
Other equities analysts have also recently issued reports about the company. Cowen cut Kaiser Aluminum from an outperform rating to a market perform rating and raised their target price for the company from $96.00 to $97.00 in a report on Monday, August 7th. They noted that the move was a valuation call. Morgan Stanley raised their target price on Kaiser Aluminum from $87.00 to $101.00 and gave the company an equal weight rating in a report on Thursday, November 16th. BidaskClub upgraded Kaiser Aluminum from a buy rating to a strong-buy rating in a report on Tuesday, August 22nd. Deutsche Bank cut Kaiser Aluminum from a buy rating to a hold rating and set a $104.00 target price for the company. in a report on Tuesday, October 17th. Finally, Credit Suisse Group raised their target price on Kaiser Aluminum from $90.00 to $95.00 and gave the company a neutral rating in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Kaiser Aluminum has a consensus rating of Hold and an average target price of $99.00.
Shares of Kaiser Aluminum (NASDAQ KALU) traded up $0.55 during trading on Friday, reaching $97.41. The company had a trading volume of 115,108 shares, compared to its average volume of 159,206. Kaiser Aluminum has a 12 month low of $74.56 and a 12 month high of $108.99. The stock has a market cap of $1,650.00, a PE ratio of 18.77, a price-to-earnings-growth ratio of 1.28 and a beta of 0.56. The company has a quick ratio of 2.55, a current ratio of 3.75 and a debt-to-equity ratio of 0.47.
Kaiser Aluminum (NASDAQ:KALU) last announced its earnings results on Wednesday, October 18th. The industrial products company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.19). Kaiser Aluminum had a net margin of 6.18% and a return on equity of 11.45%. The firm had revenue of $332.80 million for the quarter, compared to analysts’ expectations of $335.37 million. During the same quarter last year, the business earned $1.02 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. equities research analysts anticipate that Kaiser Aluminum will post 5.04 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, October 25th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Tuesday, October 24th. Kaiser Aluminum’s dividend payout ratio is currently 41.15%.
In other Kaiser Aluminum news, CEO Jack A. Hockema sold 9,000 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $102.67, for a total value of $924,030.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Melinda C. Ellsworth sold 1,000 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $99.48, for a total value of $99,480.00. The disclosure for this sale can be found here. Insiders sold a total of 16,982 shares of company stock worth $1,736,622 in the last ninety days. 3.00% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. First Mercantile Trust Co. raised its position in shares of Kaiser Aluminum by 1.4% during the 2nd quarter. First Mercantile Trust Co. now owns 1,430 shares of the industrial products company’s stock worth $127,000 after acquiring an additional 20 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Kaiser Aluminum by 1.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,140 shares of the industrial products company’s stock worth $544,000 after acquiring an additional 62 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Kaiser Aluminum by 0.3% during the 2nd quarter. California Public Employees Retirement System now owns 39,400 shares of the industrial products company’s stock worth $3,488,000 after acquiring an additional 100 shares in the last quarter. Suntrust Banks Inc. raised its position in shares of Kaiser Aluminum by 0.5% during the 2nd quarter. Suntrust Banks Inc. now owns 27,068 shares of the industrial products company’s stock worth $2,395,000 after acquiring an additional 146 shares in the last quarter. Finally, Aperio Group LLC raised its position in shares of Kaiser Aluminum by 3.0% during the 2nd quarter. Aperio Group LLC now owns 16,990 shares of the industrial products company’s stock worth $1,504,000 after acquiring an additional 494 shares in the last quarter. 98.03% of the stock is currently owned by institutional investors.
About Kaiser Aluminum
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The Company operates in the Fabricated Products segment. The Company’s Fabricated Products segment focuses on producing rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive and general engineering products that include consumer durables, electronics, electrical and machinery and equipment applications.
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