Kaiser Aluminum Corporation (NASDAQ:KALU) Announces $0.77 Quarterly Dividend

Kaiser Aluminum Corporation (NASDAQ:KALU - Get Free Report) announced a quarterly dividend on Friday, July 11th, RTT News reports. Investors of record on Friday, July 25th will be paid a dividend of 0.77 per share by the industrial products company on Friday, August 15th. This represents a $3.08 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Friday, July 25th.

Kaiser Aluminum has a dividend payout ratio of 47.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kaiser Aluminum to earn $6.90 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 44.6%.

Kaiser Aluminum Price Performance

Shares of Kaiser Aluminum stock traded down $0.42 during trading hours on Friday, reaching $89.68. 136,117 shares of the company's stock were exchanged, compared to its average volume of 137,014. Kaiser Aluminum has a 1 year low of $46.81 and a 1 year high of $98.50. The company has a market capitalization of $1.45 billion, a P/E ratio of 33.59 and a beta of 1.44. The business has a fifty day moving average of $77.90 and a two-hundred day moving average of $70.39. The company has a quick ratio of 1.27, a current ratio of 2.67 and a debt-to-equity ratio of 1.38.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.91. Kaiser Aluminum had a net margin of 1.43% and a return on equity of 7.02%. The business had revenue of $777.40 million during the quarter, compared to analyst estimates of $788.00 million. During the same quarter in the prior year, the firm earned $1.02 earnings per share. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts predict that Kaiser Aluminum will post 5.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on KALU shares. Wall Street Zen raised shares of Kaiser Aluminum from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. JPMorgan Chase & Co. upped their target price on shares of Kaiser Aluminum from $62.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Wolfe Research raised shares of Kaiser Aluminum from an "underperform" rating to a "peer perform" rating in a research report on Friday, April 11th. Finally, Benchmark decreased their target price on shares of Kaiser Aluminum from $100.00 to $74.00 and set a "buy" rating on the stock in a research report on Monday, April 21st.

Institutional Trading of Kaiser Aluminum

Hedge funds have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Kaiser Aluminum during the first quarter worth about $247,000. Royal Bank of Canada lifted its position in shares of Kaiser Aluminum by 212.6% during the first quarter. Royal Bank of Canada now owns 5,815 shares of the industrial products company's stock worth $352,000 after purchasing an additional 3,955 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Kaiser Aluminum by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,491 shares of the industrial products company's stock worth $575,000 after purchasing an additional 397 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Kaiser Aluminum by 2.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,971 shares of the industrial products company's stock worth $2,544,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Kaiser Aluminum by 323.6% during the first quarter. Jane Street Group LLC now owns 55,190 shares of the industrial products company's stock worth $3,346,000 after purchasing an additional 42,160 shares in the last quarter. Institutional investors and hedge funds own 99.29% of the company's stock.

Kaiser Aluminum Company Profile

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.