Kaiser Aluminum Corp. (KALU) Short Interest Update
Kaiser Aluminum Corp. (NASDAQ:KALU) was the target of a significant drop in short interest in February. As of February 15th, there was short interest totalling 718,530 shares, a drop of 45.7% from the January 31st total of 1,323,206 shares. Approximately 4.4% of the company’s stock are sold short. Based on an average trading volume of 108,587 shares, the days-to-cover ratio is currently 6.6 days.
KALU has been the subject of several recent analyst reports. BidaskClub downgraded Kaiser Aluminum from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Zacks Investment Research raised Kaiser Aluminum from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a report on Thursday. Morgan Stanley raised their price target on Kaiser Aluminum from $87.00 to $101.00 and gave the stock an “equal weight” rating in a report on Thursday, November 16th. Cowen reissued a “hold” rating and issued a $107.00 price target on shares of Kaiser Aluminum in a report on Friday, February 23rd. Finally, Deutsche Bank lowered their price target on Kaiser Aluminum from $107.00 to $103.00 and set a “hold” rating for the company in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $103.43.
Several large investors have recently made changes to their positions in the company. Xact Kapitalforvaltning AB purchased a new position in shares of Kaiser Aluminum in the fourth quarter worth about $274,000. We Are One Seven LLC purchased a new position in shares of Kaiser Aluminum in the fourth quarter worth about $192,000. MetLife Investment Advisors LLC purchased a new position in shares of Kaiser Aluminum in the fourth quarter worth about $810,000. Macquarie Group Ltd. raised its stake in shares of Kaiser Aluminum by 3.4% in the fourth quarter. Macquarie Group Ltd. now owns 456,255 shares of the industrial products company’s stock worth $48,751,000 after purchasing an additional 15,026 shares during the last quarter. Finally, Vident Investment Advisory LLC raised its stake in shares of Kaiser Aluminum by 6.5% in the fourth quarter. Vident Investment Advisory LLC now owns 28,398 shares of the industrial products company’s stock worth $3,034,000 after purchasing an additional 1,727 shares during the last quarter. Hedge funds and other institutional investors own 99.57% of the company’s stock.
Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.04). Kaiser Aluminum had a return on equity of 11.35% and a net margin of 3.25%. The firm had revenue of $353.00 million during the quarter, compared to analysts’ expectations of $348.95 million. During the same quarter in the previous year, the business earned $1.27 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. research analysts anticipate that Kaiser Aluminum will post 6.46 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Friday, January 26th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.18%. This is a boost from Kaiser Aluminum’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, January 25th. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 85.60%.
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Kaiser Aluminum Company Profile
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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