Kaiser Aluminum (NASDAQ:KALU) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Kaiser Aluminum (NASDAQ:KALU - Free Report) had its price objective raised by JPMorgan Chase & Co. from $62.00 to $64.00 in a report released on Monday morning,Benzinga reports. They currently have a neutral rating on the industrial products company's stock.

Several other brokerages have also weighed in on KALU. StockNews.com upgraded Kaiser Aluminum from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Wolfe Research raised Kaiser Aluminum from an "underperform" rating to a "peer perform" rating in a research note on Friday, April 11th. Finally, Benchmark dropped their price target on shares of Kaiser Aluminum from $100.00 to $74.00 and set a "buy" rating on the stock in a research note on Monday, April 21st.

Kaiser Aluminum Stock Performance

Kaiser Aluminum stock traded down $0.20 during midday trading on Monday, hitting $64.46. 211,004 shares of the company were exchanged, compared to its average volume of 138,862. Kaiser Aluminum has a fifty-two week low of $46.81 and a fifty-two week high of $102.42. The firm has a market capitalization of $1.04 billion, a PE ratio of 22.46 and a beta of 1.32. The business has a fifty day simple moving average of $62.36 and a two-hundred day simple moving average of $70.44. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.36 and a current ratio of 2.44.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.91. Kaiser Aluminum had a net margin of 1.55% and a return on equity of 6.25%. The firm had revenue of $777.40 million during the quarter, compared to analysts' expectations of $788.00 million. During the same period in the previous year, the business posted $1.02 EPS. The business's revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Kaiser Aluminum will post 5.14 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, April 25th. This represents a $3.08 annualized dividend and a yield of 4.78%. Kaiser Aluminum's dividend payout ratio is presently 115.36%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC purchased a new position in Kaiser Aluminum during the fourth quarter worth approximately $3,878,000. American Century Companies Inc. increased its stake in shares of Kaiser Aluminum by 12.6% in the 4th quarter. American Century Companies Inc. now owns 447,723 shares of the industrial products company's stock worth $31,461,000 after acquiring an additional 49,948 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Kaiser Aluminum by 103.6% during the 4th quarter. Wellington Management Group LLP now owns 431,980 shares of the industrial products company's stock worth $30,355,000 after acquiring an additional 219,827 shares during the period. Barclays PLC boosted its position in shares of Kaiser Aluminum by 101.3% during the 3rd quarter. Barclays PLC now owns 27,454 shares of the industrial products company's stock valued at $1,991,000 after acquiring an additional 13,813 shares during the last quarter. Finally, Amundi grew its holdings in shares of Kaiser Aluminum by 196.0% in the fourth quarter. Amundi now owns 8,934 shares of the industrial products company's stock valued at $629,000 after purchasing an additional 5,916 shares during the period. 99.29% of the stock is currently owned by institutional investors and hedge funds.

About Kaiser Aluminum

Kaiser Aluminum Corporation, together with its subsidiaries, engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. It offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.