Kaiser Aluminum (NASDAQ:KALU) Stock Price Down 10.3% – Here’s Why

Kaiser Aluminum Corporation (NASDAQ:KALU) shares fell 10.3% on Tuesday . The company traded as low as $165.00 and last traded at $166.3550. 29,383 shares were traded during mid-day trading, a decline of 88% from the average session volume of 250,405 shares. The stock had previously closed at $185.50.

Analyst Upgrades and Downgrades

A number of research firms have commented on KALU. Wells Fargo & Company boosted their price target on shares of Kaiser Aluminum from $158.00 to $169.00 and gave the stock an “underweight” rating in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Kaiser Aluminum in a research note on Tuesday, July 21st. KeyCorp increased their price target on shares of Kaiser Aluminum from $170.00 to $183.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $142.00 price target (up from $124.00) on shares of Kaiser Aluminum in a research note on Thursday, April 30th. Finally, UBS Group boosted their price objective on shares of Kaiser Aluminum from $176.00 to $179.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $168.25.

Kaiser Aluminum Stock Performance

The company has a quick ratio of 1.17, a current ratio of 2.50 and a debt-to-equity ratio of 1.10. The company has a fifty day moving average price of $174.61 and a 200 day moving average price of $156.40. The stock has a market cap of $2.59 billion, a PE ratio of 11.72 and a beta of 1.61.

Kaiser Aluminum (NASDAQ:KALU) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $5.53 earnings per share for the quarter, beating the consensus estimate of $2.66 by $2.87. Kaiser Aluminum had a return on equity of 24.71% and a net margin of 5.49%.The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the business posted $1.21 EPS. Kaiser Aluminum’s quarterly revenue was up 52.7% compared to the same quarter last year. Analysts expect that Kaiser Aluminum Corporation will post 10.63 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 24th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, July 24th. Kaiser Aluminum’s dividend payout ratio is 22.83%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in Kaiser Aluminum by 389.3% during the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the industrial products company’s stock valued at $31,000 after buying an additional 218 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Kaiser Aluminum by 475.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 414 shares of the industrial products company’s stock valued at $33,000 after buying an additional 342 shares during the period. Global Retirement Partners LLC grew its holdings in Kaiser Aluminum by 408.3% in the 4th quarter. Global Retirement Partners LLC now owns 366 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 294 shares during the last quarter. KBC Group NV bought a new stake in Kaiser Aluminum in the 1st quarter worth $44,000. Finally, Quantbot Technologies LP purchased a new position in shares of Kaiser Aluminum in the second quarter valued at about $44,000. 99.29% of the stock is owned by hedge funds and other institutional investors.

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.