Kaiser Aluminum (NASDAQ:KALU) Trading 3.6% Higher After Dividend Announcement

Kaiser Aluminum Co. (NASDAQ:KALU)’s stock price traded up 3.6% during mid-day trading on Monday after the company announced a dividend. The company traded as high as $92.40 and last traded at $92.40. 9,906 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 133,904 shares. The stock had previously closed at $89.15.

The newly announced dividend which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 25th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.40%. Kaiser Aluminum’s dividend payout ratio is presently 105.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on KALU shares. UBS Group began coverage on Kaiser Aluminum in a report on Tuesday, January 16th. They issued a “neutral” rating and a $67.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on Kaiser Aluminum from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $77.00.

Kaiser Aluminum Trading Up 1.8 %

The stock has a 50 day moving average of $77.98 and a 200-day moving average of $68.89. The company has a market capitalization of $1.45 billion, a P/E ratio of 30.98 and a beta of 1.38. The company has a current ratio of 2.68, a quick ratio of 1.39 and a debt-to-equity ratio of 1.72.

Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.94. Kaiser Aluminum had a return on equity of 8.32% and a net margin of 1.53%. The company had revenue of $722.00 million during the quarter, compared to the consensus estimate of $716.01 million. During the same period in the previous year, the company posted ($1.66) EPS. The firm’s revenue was down 7.0% on a year-over-year basis. On average, research analysts predict that Kaiser Aluminum Co. will post 3.65 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. purchased a new position in Kaiser Aluminum in the 4th quarter worth approximately $1,136,000. Victory Capital Management Inc. lifted its holdings in Kaiser Aluminum by 12.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,249,158 shares of the industrial products company’s stock worth $94,012,000 after purchasing an additional 134,073 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Kaiser Aluminum by 99.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,530 shares of the industrial products company’s stock worth $868,000 after purchasing an additional 5,735 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Kaiser Aluminum by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 259,307 shares of the industrial products company’s stock worth $19,515,000 after acquiring an additional 4,685 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Kaiser Aluminum by 27.8% during the 3rd quarter. Deutsche Bank AG now owns 8,650 shares of the industrial products company’s stock worth $651,000 after acquiring an additional 1,881 shares in the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

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.