Wall Street Zen Downgrades Kaiser Aluminum (NASDAQ:KALU) to Hold

Key Points

• Wall Street Zen has downgraded Kaiser Aluminum from a "buy" rating to a "hold" rating, reflecting a shift in market sentiment.
• JPMorgan Chase & Co. has raised its target price for Kaiser Aluminum from $64.00 to $82.00, while maintaining a "neutral" stock rating.
• Kaiser Aluminum reported an EPS of $1.21 for the quarter, exceeding expectations and indicating a strong performance with revenue of $823.10 million.

Wall Street Zen downgraded shares of Kaiser Aluminum (NASDAQ:KALU - Free Report) from a buy rating to a hold rating in a research note issued to investors on Monday.

Separately, JPMorgan Chase & Co. raised their target price on Kaiser Aluminum from $64.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $78.00.

Kaiser Aluminum Trading Down 0.8%

KALU traded down $0.63 during mid-day trading on Monday, hitting $77.87. 64,089 shares of the stock were exchanged, compared to its average volume of 99,884. The firm's fifty day moving average is $80.80 and its two-hundred day moving average is $71.98. Kaiser Aluminum has a 1-year low of $46.81 and a 1-year high of $97.00. The company has a current ratio of 2.70, a quick ratio of 1.30 and a debt-to-equity ratio of 1.39. The company has a market cap of $1.26 billion, a PE ratio of 20.02 and a beta of 1.51.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.72. The company had revenue of $823.10 million for the quarter, compared to analyst estimates of $786.70 million. Kaiser Aluminum had a return on equity of 8.03% and a net margin of 2.05%. Equities analysts forecast that Kaiser Aluminum will post 5.14 earnings per share for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, July 25th. Kaiser Aluminum's dividend payout ratio (DPR) is 79.18%.

Institutional Trading of Kaiser Aluminum

Institutional investors have recently modified their holdings of the business. Orion Porfolio Solutions LLC raised its holdings in Kaiser Aluminum by 2.0% during the second quarter. Orion Porfolio Solutions LLC now owns 13,119 shares of the industrial products company's stock worth $1,048,000 after purchasing an additional 254 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Kaiser Aluminum by 8.0% in the second quarter. Public Sector Pension Investment Board now owns 54,601 shares of the industrial products company's stock worth $4,363,000 after acquiring an additional 4,031 shares during the last quarter. Winslow Asset Management Inc. raised its holdings in shares of Kaiser Aluminum by 1.4% in the second quarter. Winslow Asset Management Inc. now owns 75,730 shares of the industrial products company's stock worth $6,051,000 after acquiring an additional 1,079 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Kaiser Aluminum by 130.9% in the second 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 during the last quarter. Finally, State of Tennessee Department of Treasury raised its holdings in shares of Kaiser Aluminum by 114.7% in the second quarter. State of Tennessee Department of Treasury now owns 8,442 shares of the industrial products company's stock worth $675,000 after acquiring an additional 4,510 shares during the last quarter. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

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.