Kaiser Aluminum (NASDAQ:KALU) Sets New 12-Month High – What’s Next?

Kaiser Aluminum Corporation (NASDAQ:KALU)’s share price hit a new 52-week high on Monday . The company traded as high as $97.63 and last traded at $95.7950, with a volume of 28938 shares changing hands. The stock had previously closed at $94.53.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KALU shares. Wall Street Zen raised shares of Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. Zacks Research raised Kaiser Aluminum from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Weiss Ratings upgraded Kaiser Aluminum from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. JPMorgan Chase & Co. upped their target price on Kaiser Aluminum from $82.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Finally, Wells Fargo & Company lifted their price target on shares of Kaiser Aluminum from $90.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.67.

Kaiser Aluminum Price Performance

The firm has a market cap of $1.55 billion, a P/E ratio of 17.28 and a beta of 1.58. The business has a 50-day simple moving average of $81.05 and a 200 day simple moving average of $78.27. 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 (NASDAQ:KALU) last announced its earnings results on Wednesday, April 2nd. The industrial products company reported $1.21 earnings per share for the quarter. The business had revenue of $765.40 million during the quarter. Kaiser Aluminum had a net margin of 2.85% and a return on equity of 10.67%. On average, analysts anticipate that Kaiser Aluminum Corporation will post 5.14 earnings per share for the current fiscal year.

Kaiser Aluminum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, October 24th. Kaiser Aluminum’s dividend payout ratio is presently 55.70%.

Hedge Funds Weigh In On Kaiser Aluminum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KALU. Amalgamated Bank boosted its holdings in shares of Kaiser Aluminum by 3.6% during the 3rd quarter. Amalgamated Bank now owns 4,725 shares of the industrial products company’s stock worth $365,000 after purchasing an additional 162 shares during the last quarter. Third Avenue Management LLC boosted its holdings in Kaiser Aluminum by 0.3% in the first quarter. Third Avenue Management LLC now owns 79,828 shares of the industrial products company’s stock valued at $4,839,000 after purchasing an additional 205 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Kaiser Aluminum by 7.4% in the third quarter. PNC Financial Services Group Inc. now owns 3,689 shares of the industrial products company’s stock valued at $285,000 after acquiring an additional 253 shares during the period. Orion Porfolio Solutions LLC grew its stake in shares of Kaiser Aluminum by 2.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,119 shares of the industrial products company’s stock valued at $1,048,000 after purchasing an additional 254 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in Kaiser Aluminum by 7.3% during the 1st quarter. Cetera Investment Advisers now owns 4,217 shares of the industrial products company’s stock worth $256,000 after purchasing an additional 287 shares during the period. 99.29% of the stock is owned by hedge funds and other 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.