Kaiser Aluminum Corporation (NASDAQ:KALU - Get Free Report) declared a quarterly dividend on Tuesday, July 15th, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 3.52%.
Kaiser Aluminum has a payout ratio of 47.0% indicating that its dividend is sufficiently covered by earnings. Equities research 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 KALU stock traded down $1.07 during trading hours on Tuesday, reaching $87.61. The company's stock had a trading volume of 134,806 shares, compared to its average volume of 137,152. The firm's 50 day simple moving average is $76.23 and its 200-day simple moving average is $69.87. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 32.81 and a beta of 1.44. 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 has a fifty-two week low of $46.81 and a fifty-two week high of $100.07.
Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.91. The firm had revenue of $777.40 million during the quarter, compared to the consensus estimate of $788.00 million. Kaiser Aluminum had a return on equity of 7.02% and a net margin of 1.43%. The business's revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $1.02 EPS. Sell-side analysts forecast that Kaiser Aluminum will post 5.14 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on KALU shares. JPMorgan Chase & Co. increased 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 Kaiser Aluminum from an "underperform" rating to a "peer perform" rating in a research report on Friday, April 11th. Benchmark cut their price target on Kaiser Aluminum from $100.00 to $74.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Finally, Wall Street Zen raised Kaiser Aluminum from a "hold" rating to a "buy" rating in a report on Saturday, June 14th.
View Our Latest Report on Kaiser Aluminum
Hedge Funds Weigh In On Kaiser Aluminum
A number of hedge funds have recently made changes to their positions in the business. Jane Street Group LLC raised its stake in 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 valued at $3,346,000 after purchasing an additional 42,160 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Kaiser Aluminum by 2.7% in the 1st 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Kaiser Aluminum by 4.4% in 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 buying an additional 397 shares during the last quarter. Royal Bank of Canada increased its position in 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 valued at $352,000 after acquiring an additional 3,955 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Kaiser Aluminum during the 1st quarter worth about $247,000. Institutional investors own 99.29% of the company's stock.
About Kaiser Aluminum
(
Get Free Report)
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.
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