Kaiser Aluminum (NASDAQ:KALU) Issues Earnings Results

Key Points

• Kaiser Aluminum reported a quarterly earnings per share (EPS) of $1.86, significantly exceeding analysts' expectations of $0.80 by $1.06.
• The company declared a quarterly dividend of $0.77 per share, with a dividend yield of 4.0% and a payout ratio of 79.18%.
• Analysts have mixed ratings on Kaiser Aluminum, with a consensus rating of "Hold" and a price target of $82.00 per share.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) issued its quarterly earnings data on Wednesday. The industrial products company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $1.06, Zacks reports. Kaiser Aluminum had a net margin of 2.05% and a return on equity of 8.03%.

Kaiser Aluminum Stock Performance

Shares of NASDAQ KALU traded down $1.86 during midday trading on Wednesday, hitting $77.89. 154,762 shares of the company's stock traded hands, compared to its average volume of 127,903. Kaiser Aluminum has a 1 year low of $46.81 and a 1 year high of $97.00. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 20.02 and a beta of 1.49. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.30 and a current ratio of 2.70. The firm has a fifty day moving average of $77.28 and a 200 day moving average of $74.54.

Kaiser Aluminum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, October 24th. This represents a $3.08 annualized dividend and a dividend yield of 4.0%. Kaiser Aluminum's dividend payout ratio is presently 79.18%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of Kaiser Aluminum in a research note on Wednesday, October 8th. Zacks Research cut shares of Kaiser Aluminum from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. JPMorgan Chase & Co. upped their price target on shares of Kaiser Aluminum from $64.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Wells Fargo & Company initiated coverage on Kaiser Aluminum in a research report on Wednesday, October 8th. They issued an "overweight" rating and a $90.00 target price for the company. Finally, Wall Street Zen raised Kaiser Aluminum from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $82.00.

Institutional Investors Weigh In On Kaiser Aluminum

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its holdings in Kaiser Aluminum by 475.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 414 shares of the industrial products company's stock worth $33,000 after acquiring an additional 342 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Kaiser Aluminum in the 2nd quarter worth approximately $44,000. Tower Research Capital LLC TRC increased its holdings in Kaiser Aluminum by 130.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 605 shares of the industrial products company's stock worth $48,000 after acquiring an additional 343 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Kaiser Aluminum by 50.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,748 shares of the industrial products company's stock worth $140,000 after acquiring an additional 585 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Kaiser Aluminum in the 1st quarter worth approximately $247,000. Hedge funds and other institutional investors own 99.29% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.