Kaiser Aluminum (NASDAQ:KALU) Shares Gap Up to $81.13

Shares of Kaiser Aluminum Co. (NASDAQ:KALU) gapped up before the market opened on Tuesday . The stock had previously closed at $81.13, but opened at $85.03. Kaiser Aluminum shares last traded at $84.06, with a volume of 2,756 shares.

Analyst Ratings Changes

KALU has been the subject of a number of research analyst reports. UBS Group initiated coverage on Kaiser Aluminum in a report on Tuesday, January 16th. They set a “neutral” rating and a $67.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Kaiser Aluminum from $62.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.50.

Kaiser Aluminum Stock Up 3.6 %

The firm has a 50 day moving average price of $70.86 and a two-hundred day moving average price of $67.37. The company has a quick ratio of 1.39, a current ratio of 2.68 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 30.21 and a beta of 1.35.

Kaiser Aluminum (NASDAQ:KALU) last announced its earnings results on Thursday, February 22nd. The industrial products company reported $0.60 earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.94. The company had revenue of $722.00 million during the quarter, compared to the consensus estimate of $716.01 million. Kaiser Aluminum had a return on equity of 8.32% and a net margin of 1.53%. The company’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm earned ($1.66) earnings per share. As a group, sell-side analysts expect that Kaiser Aluminum Co. will post 3.59 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, January 25th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, January 24th. This represents a $3.08 annualized dividend and a dividend yield of 3.49%. Kaiser Aluminum’s payout ratio is 105.48%.

Hedge Funds Weigh In On Kaiser Aluminum

Several large investors have recently modified their holdings of KALU. Tower Research Capital LLC TRC lifted its position in shares of Kaiser Aluminum by 314.4% during the first quarter. Tower Research Capital LLC TRC now owns 518 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 393 shares during the last quarter. International Assets Investment Management LLC bought a new position in Kaiser Aluminum in the fourth quarter worth about $51,000. NewEdge Advisors LLC lifted its holdings in Kaiser Aluminum by 2,214.3% in the first quarter. NewEdge Advisors LLC now owns 810 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 775 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Kaiser Aluminum in the second quarter worth about $80,000. Finally, Captrust Financial Advisors lifted its holdings in Kaiser Aluminum by 76.1% in the first quarter. Captrust Financial Advisors now owns 1,016 shares of the industrial products company’s stock worth $96,000 after acquiring an additional 439 shares during the last quarter. Institutional investors own 99.29% of the company’s stock.

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.