Kaiser Aluminum Corporation (NASDAQ:KALU) Shares Set to Pay Quarterly Dividend of $0.77

Key Points

• Kaiser Aluminum declared a quarterly dividend of $0.77 per share, payable November 13 to shareholders of record on October 23. The dividend annualizes to $3.08 per share and yields approximately 2.0%.
• The dividend appears well covered, with a current payout ratio of 47.0% and an expected future payout ratio of 30.4% based on projected earnings of $10.12 per share.
• Kaiser reported strong quarterly results, earning $5.53 per share versus the $2.66 analyst consensus and generating $1.26 billion in revenue, up 52.7% year over year.

Kaiser Aluminum Corporation (NASDAQ:KALU - Get Free Report) declared a quarterly dividend on Tuesday, October 13th. Investors of record on Friday, October 23rd will be given a dividend of $0.77 per share by the industrial products company on Friday, November 13th. This represents a $3.08 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, October 23rd.

Kaiser Aluminum has a payout ratio of 47.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kaiser Aluminum to earn $10.12 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 30.4%.

Kaiser Aluminum Price Performance

Shares of NASDAQ KALU opened at $151.81 on Wednesday. The stock has a fifty day simple moving average of $160.24 and a two-hundred day simple moving average of $164.13. Kaiser Aluminum has a 1-year low of $77.24 and a 1-year high of $199.89. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 11.25 and a beta of 1.59. The company has a current ratio of 2.50, a quick ratio of 1.17 and a debt-to-equity ratio of 1.10.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $5.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.66 by $2.87. Kaiser Aluminum had a return on equity of 24.71% and a net margin of 5.49%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the business posted $1.21 earnings per share. The business's revenue for the quarter was up 52.7% on a year-over-year basis. Analysts anticipate that Kaiser Aluminum will post 13.40 earnings per share for the current year.

Hedge Funds Weigh In On Kaiser Aluminum

A number of large investors have recently made changes to their positions in the stock. Tidal Investments LLC purchased a new position in Kaiser Aluminum during the second quarter valued at approximately $1,355,000. Harvest Investment Advisors LLC bought a new stake in Kaiser Aluminum during the 4th quarter worth approximately $2,340,000. Louisiana State Employees Retirement System purchased a new stake in Kaiser Aluminum in the 1st quarter worth approximately $856,000. Jennison Associates LLC purchased a new stake in Kaiser Aluminum in the 1st quarter worth approximately $756,000. Finally, Great Lakes Advisors LLC purchased a new stake in Kaiser Aluminum in the 2nd quarter worth approximately $8,045,000. 99.29% of the stock is owned by institutional investors.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation is a manufacturer of semi-fabricated aluminum products serving customers in the aerospace, automotive, industrial, packaging, and other end markets. The company produces engineered aluminum products designed for applications that require characteristics such as strength, light weight, corrosion resistance, and thermal conductivity.

Its product portfolio includes rolled aluminum sheet and plate, extruded products, forged components, and other specialty products.

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