Kaiser Aluminum (NASDAQ:KALU) Sets New 12-Month High – Here’s Why

Kaiser Aluminum Corporation (NASDAQ:KALU)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $195.22 and last traded at $187.8730, with a volume of 15420 shares traded. The stock had previously closed at $190.63.

Wall Street Analysts Forecast Growth

KALU has been the topic of several recent research reports. UBS Group initiated coverage on shares of Kaiser Aluminum in a research report on Tuesday, May 5th. They issued a “neutral” rating and a $176.00 price objective on the stock. KeyCorp boosted their price objective on shares of Kaiser Aluminum from $170.00 to $183.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Wall Street Zen raised Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 18th. Zacks Research raised Kaiser Aluminum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $142.00 target price (up from $124.00) on shares of Kaiser Aluminum in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $159.50.

Kaiser Aluminum Stock Performance

The company has a market capitalization of $2.97 billion, a PE ratio of 19.80 and a beta of 1.60. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.14 and a current ratio of 2.47. The stock’s fifty day simple moving average is $169.13 and its 200-day simple moving average is $138.62.

Kaiser Aluminum (NASDAQ:KALU) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $1.78. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $948.50 million. Kaiser Aluminum had a net margin of 4.14% and a return on equity of 17.00%. The firm’s quarterly revenue was up 42.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.44 EPS. As a group, equities analysts predict that Kaiser Aluminum Corporation will post 8.69 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, April 24th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, April 24th. Kaiser Aluminum’s dividend payout ratio is 33.55%.

Insider Activity at Kaiser Aluminum

In other Kaiser Aluminum news, CFO Neal E. West sold 5,000 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $173.29, for a total transaction of $866,450.00. Following the transaction, the chief financial officer owned 19,091 shares of the company’s stock, valued at $3,308,279.39. This represents a 20.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Keith Harvey sold 47,001 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $175.09, for a total value of $8,229,405.09. Following the transaction, the chief executive officer directly owned 97,339 shares in the company, valued at approximately $17,043,085.51. This represents a 32.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 71,731 shares of company stock worth $12,529,097. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Kaiser Aluminum during the 4th quarter worth about $5,018,000. Citigroup Inc. lifted its holdings in shares of Kaiser Aluminum by 127.3% during the 3rd quarter. Citigroup Inc. now owns 34,456 shares of the industrial products company’s stock worth $2,659,000 after acquiring an additional 19,294 shares during the period. First National Bank of Omaha purchased a new position in shares of Kaiser Aluminum during the 3rd quarter worth about $603,000. Bright Futures Wealth Management LLC. purchased a new position in shares of Kaiser Aluminum during the 3rd quarter worth about $908,000. Finally, American Century Companies Inc. lifted its holdings in shares of Kaiser Aluminum by 9.8% during the 3rd quarter. American Century Companies Inc. now owns 588,720 shares of the industrial products company’s stock worth $45,426,000 after acquiring an additional 52,512 shares during the period. Hedge funds and other institutional investors own 99.29% of the company’s stock.

About Kaiser Aluminum

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.