Kaiser Aluminum Co. (NASDAQ:KALU) Plans Dividend Increase – $0.77 Per Share

Kaiser Aluminum Co. (NASDAQ:KALU) declared a quarterly dividend on Thursday, January 13th, Zacks reports. Investors of record on Monday, January 24th will be given a dividend of 0.77 per share by the industrial products company on Tuesday, February 15th. This represents a $3.08 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Friday, January 21st. This is a boost from Kaiser Aluminum’s previous quarterly dividend of $0.72.

Kaiser Aluminum has increased its dividend by 30.9% over the last three years and has increased its dividend every year for the last 11 years. Kaiser Aluminum has a payout ratio of 37.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kaiser Aluminum to earn $3.94 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 73.1%.

Shares of NASDAQ KALU opened at $105.80 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.82 and a current ratio of 2.75. Kaiser Aluminum has a 52-week low of $84.78 and a 52-week high of $141.07. The firm has a 50 day moving average price of $97.99 and a two-hundred day moving average price of $109.62.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings data on Tuesday, October 19th. The industrial products company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.75). The firm had revenue of $750.60 million for the quarter, compared to analyst estimates of $782.96 million. Kaiser Aluminum had a positive return on equity of 5.65% and a negative net margin of 0.68%. The company’s quarterly revenue was up 193.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 earnings per share. On average, equities analysts forecast that Kaiser Aluminum will post 2.96 earnings per share for the current year.

In other Kaiser Aluminum news, Director Jack A. Hockema sold 1,000 shares of the business’s stock in a transaction on Friday, January 14th. The shares were sold at an average price of $105.36, for a total transaction of $105,360.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Neal E. West sold 400 shares of the company’s stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $106.02, for a total transaction of $42,408.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,950 shares of company stock valued at $409,127. Company insiders own 1.20% of the company’s stock.

A hedge fund recently raised its stake in Kaiser Aluminum stock. Morgan Stanley raised its stake in shares of Kaiser Aluminum Co. (NASDAQ:KALU) by 99.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 102,024 shares of the industrial products company’s stock after acquiring an additional 50,805 shares during the period. Morgan Stanley owned approximately 0.64% of Kaiser Aluminum worth $12,598,000 as of its most recent SEC filing. Institutional investors own 97.01% of the company’s stock.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Kaiser Aluminum from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 20th. JPMorgan Chase & Co. downgraded shares of Kaiser Aluminum from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $117.00 to $98.00 in a research note on Friday, December 10th.

About Kaiser Aluminum

Kaiser Aluminum Corp. engages in the manufacture and sale of semi-fabricated specialty aluminum products. The firm caters aerospace, general engineering, automotive, and custom industrial applications. Its products include plate, sheet, coil, hard alloy shapes, soft alloy extrusions, seamless & structural extruded, drawn tube, hard alloy rod, bar, wire and forge stock.

Read More: What are Bollinger Bands?

Dividend History for Kaiser Aluminum (NASDAQ:KALU)

Receive News & Ratings for Kaiser Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kaiser Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.