Kaiser Aluminum (NASDAQ:KALU) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Kaiser Aluminum (NASDAQ:KALU) from a sell rating to a hold rating in a research note published on Wednesday, BidAskClub reports.

Several other brokerages have also recently issued reports on KALU. Zacks Investment Research cut shares of EXACT Sciences from a hold rating to a sell rating in a report on Tuesday, July 2nd. ValuEngine raised shares of XCel Brands from a sell rating to a hold rating in a report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $108.60.

NASDAQ:KALU opened at $95.63 on Wednesday. Kaiser Aluminum has a one year low of $83.29 and a one year high of $119.66. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.29 and a quick ratio of 2.14. The business’s 50-day simple moving average is $94.19. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 14.78 and a beta of 1.03.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.83 by $0.02. Kaiser Aluminum had a net margin of 5.90% and a return on equity of 14.91%. The business had revenue of $395.00 million for the quarter, compared to analyst estimates of $404.04 million. During the same quarter in the previous year, the firm posted $1.60 earnings per share. Kaiser Aluminum’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, analysts anticipate that Kaiser Aluminum will post 7.18 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $2.40 annualized dividend and a yield of 2.51%. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 37.09%.

In other Kaiser Aluminum news, VP Mark Krouse sold 1,100 shares of Kaiser Aluminum stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $93.44, for a total value of $102,784.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Keith Harvey sold 500 shares of Kaiser Aluminum stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $90.00, for a total transaction of $45,000.00. The disclosure for this sale can be found here. Insiders sold 11,050 shares of company stock valued at $1,083,105 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System increased its holdings in Kaiser Aluminum by 8.0% during the 4th quarter. California Public Employees Retirement System now owns 32,592 shares of the industrial products company’s stock valued at $2,910,000 after purchasing an additional 2,408 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in Kaiser Aluminum by 4.3% during the 4th quarter. Great West Life Assurance Co. Can now owns 21,901 shares of the industrial products company’s stock valued at $1,806,000 after purchasing an additional 893 shares in the last quarter. Geode Capital Management LLC increased its holdings in Kaiser Aluminum by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 186,526 shares of the industrial products company’s stock valued at $16,654,000 after purchasing an additional 10,047 shares in the last quarter. Brinker Capital Inc. increased its holdings in Kaiser Aluminum by 4.3% during the 4th quarter. Brinker Capital Inc. now owns 5,273 shares of the industrial products company’s stock valued at $471,000 after purchasing an additional 219 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in Kaiser Aluminum by 3.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 16,188 shares of the industrial products company’s stock valued at $1,445,000 after purchasing an additional 579 shares in the last quarter. 97.41% of the stock is owned by hedge funds and other institutional investors.

About Kaiser Aluminum

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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