Kaiser Aluminum Co. (NASDAQ:KALU) to Issue $0.77 Quarterly Dividend

Kaiser Aluminum Co. (NASDAQ:KALU) declared a quarterly dividend on Monday, April 15th, RTT News reports. Stockholders of record on Thursday, April 25th will be given a dividend of 0.77 per share by the industrial products company on Wednesday, May 15th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.47%.

Kaiser Aluminum has increased its dividend by an average of 4.8% per year over the last three years. Kaiser Aluminum has a payout ratio of 53.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kaiser Aluminum to earn $6.60 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 46.7%.

Kaiser Aluminum Stock Down 0.4 %

Shares of Kaiser Aluminum stock opened at $88.83 on Tuesday. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.68 and a quick ratio of 1.39. Kaiser Aluminum has a 1 year low of $53.67 and a 1 year high of $95.56. The firm’s 50-day moving average is $77.46 and its two-hundred day moving average is $68.78. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 30.42 and a beta of 1.37.

Kaiser Aluminum (NASDAQ:KALU) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $716.01 million. During the same period in the prior year, the business earned ($1.66) EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, research analysts expect that Kaiser Aluminum will post 3.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kaiser Aluminum

A number of institutional investors have recently bought and sold shares of KALU. JPMorgan Chase & Co. raised its position in Kaiser Aluminum by 18.4% during the 1st quarter. JPMorgan Chase & Co. now owns 19,988 shares of the industrial products company’s stock worth $1,882,000 after buying an additional 3,108 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Kaiser Aluminum by 8.0% during the 1st quarter. Bank of New York Mellon Corp now owns 171,375 shares of the industrial products company’s stock valued at $16,136,000 after purchasing an additional 12,759 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Kaiser Aluminum by 21.3% during the 1st quarter. American Century Companies Inc. now owns 4,758 shares of the industrial products company’s stock valued at $448,000 after purchasing an additional 836 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Kaiser Aluminum by 11.6% during the 1st quarter. Citigroup Inc. now owns 13,737 shares of the industrial products company’s stock valued at $1,293,000 after purchasing an additional 1,432 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Kaiser Aluminum by 9.9% during the 1st quarter. Bank of Montreal Can now owns 22,243 shares of the industrial products company’s stock valued at $2,126,000 after purchasing an additional 2,011 shares in the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KALU has been the topic of a number of recent analyst reports. 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 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of Kaiser Aluminum from $68.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $77.00.

About Kaiser Aluminum

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.