Kaiser Aluminum (NASDAQ:KALU) Price Target Raised to $108.00

Kaiser Aluminum (NASDAQ:KALU) had its price objective upped by Wells Fargo & Company from $90.00 to $108.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other analysts have also issued reports about the company. Zacks Research lowered Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of Kaiser Aluminum in a report on Wednesday, October 8th. Wall Street Zen raised Kaiser Aluminum from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on Kaiser Aluminum from $64.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.00.

Kaiser Aluminum Trading Up 2.9%

NASDAQ:KALU opened at $95.79 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.08 and a current ratio of 2.48. Kaiser Aluminum has a one year low of $46.81 and a one year high of $97.60. The business’s 50-day simple moving average is $78.06 and its 200 day simple moving average is $75.49. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 17.32 and a beta of 1.49.

Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings results on Wednesday, April 2nd. The industrial products company reported $1.21 EPS for the quarter. The business had revenue of $765.40 million for the quarter. Kaiser Aluminum had a return on equity of 10.67% and a net margin of 2.85%. As a group, sell-side analysts predict 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 will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be issued 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 3.2%. Kaiser Aluminum’s dividend payout ratio is 55.70%.

Hedge Funds Weigh In On Kaiser Aluminum

Several institutional investors have recently made changes to their positions in KALU. State Street Corp grew its holdings in shares of Kaiser Aluminum by 31.9% during the second quarter. State Street Corp now owns 1,154,415 shares of the industrial products company’s stock valued at $92,238,000 after purchasing an additional 279,231 shares during the last quarter. Tributary Capital Management LLC boosted its position in shares of Kaiser Aluminum by 92.5% during the third quarter. Tributary Capital Management LLC now owns 500,418 shares of the industrial products company’s stock worth $38,612,000 after buying an additional 240,518 shares during the period. Gabelli Funds LLC acquired a new position in shares of Kaiser Aluminum during the second quarter worth approximately $5,013,000. Raymond James Financial Inc. boosted its position in shares of Kaiser Aluminum by 211.2% during the second quarter. Raymond James Financial Inc. now owns 82,553 shares of the industrial products company’s stock worth $6,596,000 after buying an additional 56,028 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Kaiser Aluminum by 11.5% during the first quarter. American Century Companies Inc. now owns 499,314 shares of the industrial products company’s stock worth $30,268,000 after buying an additional 51,591 shares during the period. 99.29% of the stock is owned by institutional investors.

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.