Kaiser Aluminum Corporation (KALU) to Distribute Quarterly Dividend of $0.77 on November 13th

Kaiser Aluminum Corporation (NASDAQ:KALU) declared a quarterly dividend on Thursday, October 8th. Stockholders of record on Friday, October 23rd will be given a dividend of $0.77 per share by the industrial products company on Friday, November 13th. This represents a $3.08 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, October 23rd.

Kaiser Aluminum has a payout ratio of 47.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kaiser Aluminum to earn $10.12 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 30.4%.

Kaiser Aluminum Trading Up 1.6%

Shares of KALU stock opened at $152.54 on Wednesday. The stock has a 50-day simple moving average of $156.89 and a 200 day simple moving average of $165.19. The stock has a market capitalization of $2.49 billion, a P/E ratio of 11.31 and a beta of 1.59. The company has a quick ratio of 1.17, a current ratio of 2.50 and a debt-to-equity ratio of 1.10. Kaiser Aluminum has a fifty-two week low of $77.24 and a fifty-two week high of $199.89.

Kaiser Aluminum (NASDAQ:KALU) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $5.53 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $2.87. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.12 billion. Kaiser Aluminum had a net margin of 5.49% and a return on equity of 24.71%. The business’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. On average, sell-side analysts expect that Kaiser Aluminum will post 13.40 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KALU. Allworth Financial LP boosted its holdings in Kaiser Aluminum by 146.6% in the second quarter. Allworth Financial LP now owns 143 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 85 shares in the last quarter. Nykredit A S acquired a new position in Kaiser Aluminum during the second quarter worth $30,000. Harbor Investment Advisory LLC bought a new position in Kaiser Aluminum during the second quarter valued at about $64,000. KBC Group NV bought a new position in Kaiser Aluminum during the first quarter valued at about $44,000. Finally, Farther Finance Advisors LLC raised its holdings in Kaiser Aluminum by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 400 shares of the industrial products company’s stock valued at $58,000 after buying an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation is a producer of semi-fabricated aluminum products used by manufacturers in the aerospace and defense, automotive, industrial, and consumer products markets. The company supplies aluminum materials designed for applications that require strength, light weight, corrosion resistance, and other specialized performance characteristics.

Its product portfolio includes rolled aluminum sheet and plate, extruded products, forged components, and other fabricated aluminum products.