Kaiser Aluminum (NASDAQ:KALU) Trading 3.6% Higher After Dividend Announcement

Kaiser Aluminum Co. (NASDAQ:KALU) rose 3.6% on Monday after the company announced a dividend. The stock traded as high as $92.40 and last traded at $92.40. Approximately 9,906 shares changed hands during trading, a decline of 93% from the average daily volume of 133,904 shares. The stock had previously closed at $89.15.

The newly announced dividend which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 25th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.40%. Kaiser Aluminum’s dividend payout ratio is currently 105.48%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Kaiser Aluminum from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. UBS Group assumed coverage on shares of Kaiser Aluminum in a report on Tuesday, January 16th. They issued a “neutral” rating and a $67.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Kaiser Aluminum currently has a consensus rating of “Hold” and an average target price of $77.00.

Kaiser Aluminum Price Performance

The company’s 50-day moving average price is $77.98 and its 200-day moving average price is $68.89. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.68 and a quick ratio of 1.39. The company has a market cap of $1.45 billion, a P/E ratio of 30.98 and a beta of 1.38.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.94. Kaiser Aluminum had a net margin of 1.53% and a return on equity of 8.32%. The company had revenue of $722.00 million during the quarter, compared to the consensus estimate of $716.01 million. During the same quarter in the prior year, the firm earned ($1.66) earnings per share. The firm’s revenue was down 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that Kaiser Aluminum Co. will post 3.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KALU. Assenagon Asset Management S.A. acquired a new stake in shares of Kaiser Aluminum during the 4th quarter worth about $1,136,000. Victory Capital Management Inc. increased its holdings in Kaiser Aluminum by 12.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,249,158 shares of the industrial products company’s stock valued at $94,012,000 after buying an additional 134,073 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Kaiser Aluminum by 99.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,530 shares of the industrial products company’s stock valued at $868,000 after buying an additional 5,735 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Kaiser Aluminum by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 259,307 shares of the industrial products company’s stock valued at $19,515,000 after purchasing an additional 4,685 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Kaiser Aluminum by 27.8% during the 3rd quarter. Deutsche Bank AG now owns 8,650 shares of the industrial products company’s stock valued at $651,000 after purchasing an additional 1,881 shares during the last quarter. Institutional investors own 99.29% of the company’s stock.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation, together with its subsidiaries, engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. It offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.