Kaiser Aluminum (NASDAQ:KALU) Earns Hold Rating from Analysts at Benchmark

Benchmark began coverage on shares of Kaiser Aluminum (NASDAQ:KALU) in a research note issued to investors on Thursday, Benzinga reports. The firm issued a hold rating on the industrial products company’s stock.

A number of other brokerages also recently commented on KALU. ValuEngine upgraded Kaiser Aluminum from a sell rating to a hold rating in a research note on Tuesday, January 7th. Zacks Investment Research downgraded Kaiser Aluminum from a hold rating to a sell rating in a research note on Thursday, December 26th. Finally, BidaskClub downgraded Kaiser Aluminum from a hold rating to a sell rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $103.00.

KALU stock traded down $1.31 during midday trading on Thursday, reaching $104.94. The company had a trading volume of 104,300 shares, compared to its average volume of 98,283. The company has a quick ratio of 2.71, a current ratio of 3.80 and a debt-to-equity ratio of 0.53. The stock has a 50 day moving average price of $110.57 and a 200 day moving average price of $101.26. Kaiser Aluminum has a fifty-two week low of $85.04 and a fifty-two week high of $117.06. The firm has a market capitalization of $1.69 billion, a PE ratio of 16.22 and a beta of 1.09.

Kaiser Aluminum (NASDAQ:KALU) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $1.82 EPS for the quarter, missing the Zacks’ consensus estimate of $1.90 by ($0.08). Kaiser Aluminum had a net margin of 6.27% and a return on equity of 14.99%. The company had revenue of $375.00 million during the quarter, compared to analyst estimates of $393.94 million. During the same quarter in the previous year, the firm earned $1.43 earnings per share. The business’s revenue was down 4.6% on a year-over-year basis. Research analysts predict that Kaiser Aluminum will post 6.81 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 24th will be given a dividend of $0.67 per share. The ex-dividend date is Thursday, January 23rd. This is an increase from Kaiser Aluminum’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a dividend yield of 2.55%. Kaiser Aluminum’s payout ratio is currently 37.09%.

In other news, CEO Jack A. Hockema sold 8,456 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $109.20, for a total transaction of $923,395.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brett Wilcox sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $108.45, for a total value of $433,800.00. Following the transaction, the director now owns 12,797 shares of the company’s stock, valued at $1,387,834.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,857 shares of company stock valued at $3,133,762. Insiders own 1.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of KALU. Invesco Ltd. boosted its position in shares of Kaiser Aluminum by 332.2% during the second quarter. Invesco Ltd. now owns 381,577 shares of the industrial products company’s stock worth $37,246,000 after buying an additional 293,293 shares during the period. Nuveen Asset Management LLC acquired a new stake in Kaiser Aluminum in the second quarter worth approximately $15,993,000. Morgan Stanley lifted its position in Kaiser Aluminum by 75.1% in the second quarter. Morgan Stanley now owns 154,675 shares of the industrial products company’s stock worth $15,099,000 after purchasing an additional 66,352 shares during the period. Dalton Greiner Hartman Maher & Co. lifted its position in Kaiser Aluminum by 36.7% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 190,550 shares of the industrial products company’s stock worth $18,859,000 after purchasing an additional 51,155 shares during the period. Finally, Macquarie Group Ltd. lifted its position in Kaiser Aluminum by 6.6% in the second quarter. Macquarie Group Ltd. now owns 698,183 shares of the industrial products company’s stock worth $68,149,000 after purchasing an additional 43,146 shares during the period. Institutional investors and hedge funds own 97.93% of the company’s stock.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.

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