Kaiser Aluminum (NASDAQ:KALU) Reaches New 1-Year High on Strong Earnings

Kaiser Aluminum Corporation (NASDAQ:KALU)’s share price hit a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $97.57 and last traded at $94.71, with a volume of 123520 shares trading hands. The stock had previously closed at $77.89.

The industrial products company reported $1.21 earnings per share for the quarter. Kaiser Aluminum had a net margin of 2.85% and a return on equity of 10.93%. The business had revenue of $765.40 million for the quarter.

Kaiser Aluminum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, October 24th. Kaiser Aluminum’s dividend payout ratio (DPR) is currently 79.18%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KALU. Zacks Research cut shares of Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Wall Street Zen upgraded shares of Kaiser Aluminum from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. Wells Fargo & Company initiated coverage on shares of Kaiser Aluminum in a research report on Wednesday, October 8th. They issued an “overweight” rating and a $90.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Kaiser Aluminum from $64.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kaiser Aluminum in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $82.00.

Hedge Funds Weigh In On Kaiser Aluminum

A number of institutional investors have recently bought and sold shares of KALU. Janney Montgomery Scott LLC purchased a new position in Kaiser Aluminum during the 1st quarter worth approximately $674,000. Avidian Wealth Enterprises LLC raised its position in Kaiser Aluminum by 15.8% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 4,118 shares of the industrial products company’s stock worth $250,000 after buying an additional 561 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Kaiser Aluminum during the 1st quarter worth approximately $369,000. Principal Financial Group Inc. raised its position in Kaiser Aluminum by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 89,754 shares of the industrial products company’s stock worth $5,441,000 after buying an additional 1,984 shares during the last quarter. Finally, Stephens Inc. AR raised its position in Kaiser Aluminum by 15.7% during the 1st quarter. Stephens Inc. AR now owns 51,846 shares of the industrial products company’s stock worth $3,143,000 after buying an additional 7,016 shares during the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Kaiser Aluminum Stock Up 19.6%

The company has a current ratio of 2.70, a quick ratio of 1.30 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $1.51 billion, a PE ratio of 16.84 and a beta of 1.49. The business’s 50-day simple moving average is $77.65 and its 200-day simple moving average is $74.86.

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.