Kaiser Aluminum Corporation (NASDAQ:KALU) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Kaiser Aluminum Corporation (NASDAQ:KALU) has been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $167.25.

KALU has been the subject of several recent research reports. Wells Fargo & Company raised Kaiser Aluminum from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $169.00 to $160.00 in a research report on Friday, September 18th. Zacks Research upgraded Kaiser Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Weiss Ratings lowered Kaiser Aluminum from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. UBS Group upgraded Kaiser Aluminum from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $184.00 in a research report on Monday, August 31st. Finally, Wall Street Zen raised shares of Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 2nd.

Hedge Funds Weigh In On Kaiser Aluminum

Several institutional investors and hedge funds have recently modified their holdings of the company. Oregon Public Employees Retirement Fund grew its holdings in Kaiser Aluminum by 1.7% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 3,704 shares of the industrial products company’s stock worth $446,000 after acquiring an additional 62 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Kaiser Aluminum by 18.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 471 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 73 shares during the last quarter. Allworth Financial LP lifted its position in shares of Kaiser Aluminum by 146.6% during 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 during the last quarter. ProShare Advisors LLC grew its stake in Kaiser Aluminum by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 3,127 shares of the industrial products company’s stock worth $359,000 after purchasing an additional 97 shares in the last quarter. Finally, Nykredit A S acquired a new position in Kaiser Aluminum in the second quarter worth about $30,000. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Kaiser Aluminum Stock Down 2.9%

Shares of NASDAQ KALU opened at $151.67 on Friday. The firm’s 50-day moving average is $163.33 and its two-hundred day moving average is $161.06. The company has a market capitalization of $2.48 billion, a PE ratio of 11.24 and a beta of 1.61. Kaiser Aluminum has a 12-month low of $73.37 and a 12-month high of $199.89. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.50 and a quick ratio of 1.17.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $5.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $2.87. Kaiser Aluminum had a net margin of 5.49% and a return on equity of 24.71%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the company posted $1.21 EPS. The company’s revenue was up 52.7% on a year-over-year basis. Equities analysts anticipate that Kaiser Aluminum will post 13.4 EPS for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 24th were issued a dividend of $0.77 per share. The ex-dividend date was Friday, July 24th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.0%. Kaiser Aluminum’s payout ratio is 22.83%.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation is a manufacturer of semi-fabricated aluminum products. The company produces flat-rolled, extruded and forged aluminum products used by manufacturers in the aerospace, automotive, packaging, industrial and other specialized markets.

Its product portfolio includes aerospace plate and sheet, automotive body sheet, extruded shapes, rod and bar, forged components, and other customized aluminum products. Kaiser Aluminum serves original equipment manufacturers and suppliers that use aluminum for its light weight, strength, durability and recyclability.

The company traces its history to 1946 and operates manufacturing facilities in the United States.