Kaiser Aluminum (NASDAQ:KALU) Trading Up 8.9% – Here’s What Happened

Shares of Kaiser Aluminum Corporation (NASDAQ:KALU) were up 8.9% during trading on Wednesday . The company traded as high as $131.00 and last traded at $131.2830. Approximately 278,056 shares traded hands during mid-day trading, an increase of 25% from the average daily volume of 221,844 shares. The stock had previously closed at $120.51.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KALU shares. Wells Fargo & Company lifted their price objective on shares of Kaiser Aluminum from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Friday, February 20th. Wall Street Zen downgraded shares of Kaiser Aluminum from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. JPMorgan Chase & Co. increased their target price on shares of Kaiser Aluminum from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd. Zacks Research raised shares of Kaiser Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings raised shares of Kaiser Aluminum from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.67.

Kaiser Aluminum Stock Up 8.7%

The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.26 and a current ratio of 2.95. The firm’s fifty day simple moving average is $127.28 and its 200 day simple moving average is $107.94. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 19.36 and a beta of 1.37.

Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings results on Wednesday, February 18th. The industrial products company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.03). Kaiser Aluminum had a net margin of 3.34% and a return on equity of 12.69%. The company had revenue of $929.00 million during the quarter, compared to analyst estimates of $902.00 million. During the same quarter last year, the company earned $0.33 EPS. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. On average, sell-side analysts forecast that Kaiser Aluminum Corporation will post 5.14 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 23rd were paid a $0.77 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $3.08 dividend on an annualized basis and a yield of 2.4%. Kaiser Aluminum’s dividend payout ratio is presently 45.43%.

Insider Transactions at Kaiser Aluminum

In other Kaiser Aluminum news, CFO Neal E. West sold 5,000 shares of Kaiser Aluminum stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $121.72, for a total value of $608,600.00. Following the sale, the chief financial officer owned 12,775 shares of the company’s stock, valued at $1,554,973. This trade represents a 28.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of KALU. State Street Corp lifted its stake in Kaiser Aluminum by 31.9% in the 2nd quarter. State Street Corp now owns 1,154,415 shares of the industrial products company’s stock valued at $92,238,000 after acquiring an additional 279,231 shares in the last quarter. Tributary Capital Management LLC boosted its position in Kaiser Aluminum by 92.5% during the 3rd quarter. Tributary Capital Management LLC now owns 500,418 shares of the industrial products company’s stock worth $38,612,000 after acquiring an additional 240,518 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Kaiser Aluminum during the 3rd quarter worth approximately $13,111,000. Brightline Capital Management LLC acquired a new stake in shares of Kaiser Aluminum in the fourth quarter valued at approximately $19,296,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Kaiser Aluminum by 111.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 179,781 shares of the industrial products company’s stock valued at $20,650,000 after purchasing an additional 94,874 shares during the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation is a U.S.-based producer of semi?fabricated aluminum products, serving a diverse range of industrial and specialty markets. The company’s offerings include extruded, rolled, and forged aluminum products designed to meet stringent performance requirements in sectors such as aerospace, automotive, defense, electronics, and general engineering. By focusing on high?value applications, Kaiser Aluminum aims to deliver lightweight, durable solutions that contribute to efficiency and innovation across its customer base.

Operationally, Kaiser Aluminum maintains a network of smelters, extrusion plants, and rolling mills located primarily in North America.