Kaiser Aluminum Corp. (NASDAQ:KALU) released its earnings results on Wednesday. The company reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by $0.25. Kaiser Aluminum Corp. had a return on equity of 9.70% and a net margin of 6.59%.
Kaiser Aluminum Corp. (NASDAQ:KALU) traded down 3.19% on Wednesday, reaching $78.88. The company’s stock had a trading volume of 337,247 shares. The stock has a 50-day moving average of $84.53 and a 200-day moving average of $86.35. Kaiser Aluminum Corp. has a one year low of $70.14 and a one year high of $96.06. The stock has a market cap of $1.41 billion, a P/E ratio of 15.95 and a beta of 0.47.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, October 25th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Friday, October 21st. Kaiser Aluminum Corp.’s payout ratio is presently 37.42%.
Several large investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in Kaiser Aluminum Corp. by 400.2% in the second quarter. Barclays PLC now owns 2,526 shares of the company’s stock worth $229,000 after buying an additional 2,021 shares in the last quarter. ProShare Advisors LLC boosted its stake in Kaiser Aluminum Corp. by 2.3% in the second quarter. ProShare Advisors LLC now owns 2,568 shares of the company’s stock worth $232,000 after buying an additional 57 shares in the last quarter. Profund Advisors LLC boosted its stake in Kaiser Aluminum Corp. by 1.5% in the second quarter. Profund Advisors LLC now owns 3,137 shares of the company’s stock worth $284,000 after buying an additional 47 shares in the last quarter. Pacad Investment Ltd. bought a new stake in Kaiser Aluminum Corp. during the second quarter worth approximately $289,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Kaiser Aluminum Corp. during the second quarter worth approximately $470,000. 98.64% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on KALU shares. Seaport Global Securities started coverage on Kaiser Aluminum Corp. in a research note on Friday, September 9th. They set a “buy” rating and a $100.00 target price on the stock. Zacks Investment Research cut Kaiser Aluminum Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 18th. Credit Suisse Group AG set a $85.00 target price on Kaiser Aluminum Corp. and gave the stock a “hold” rating in a research note on Wednesday, July 20th. Bank of America Corp. cut Kaiser Aluminum Corp. from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $94.00 to $92.00 in a research note on Wednesday, July 20th. Finally, Macquarie started coverage on Kaiser Aluminum Corp. in a research note on Tuesday, September 6th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Kaiser Aluminum Corp. presently has an average rating of “Hold” and a consensus price target of $91.71.
About Kaiser Aluminum Corp.
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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