Kaiser Aluminum Co. (KALU) To Go Ex-Dividend on April 24th

Kaiser Aluminum Co. (NASDAQ:KALU) declared a quarterly dividend on Wednesday, April 10th, RTT News reports. Shareholders of record on Thursday, April 25th will be given a dividend of 0.77 per share by the industrial products company on Wednesday, May 15th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, April 24th.

Kaiser Aluminum has increased its dividend payment by an average of 4.8% per year over the last three years. Kaiser Aluminum has a payout ratio of 53.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Kaiser Aluminum to earn $6.60 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 46.7%.

Kaiser Aluminum Trading Down 0.8 %

NASDAQ KALU opened at $89.49 on Monday. The company has a current ratio of 2.68, a quick ratio of 1.39 and a debt-to-equity ratio of 1.72. The company has a fifty day simple moving average of $79.51 and a two-hundred day simple moving average of $69.30. Kaiser Aluminum has a 12-month low of $53.67 and a 12-month high of $95.56. The stock has a market cap of $1.43 billion, a P/E ratio of 30.65 and a beta of 1.37.

Kaiser Aluminum (NASDAQ:KALU) last issued its earnings results on Thursday, February 22nd. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.94. Kaiser Aluminum had a net margin of 1.53% and a return on equity of 8.32%. The firm had revenue of $722.00 million during the quarter, compared to analysts’ expectations of $716.01 million. During the same quarter last year, the company posted ($1.66) earnings per share. The firm’s revenue was down 7.0% compared to the same quarter last year. On average, analysts forecast that Kaiser Aluminum will post 3.65 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on KALU shares. Benchmark reissued a “buy” rating and set a $84.00 target price on shares of Kaiser Aluminum in a report on Friday. UBS Group started coverage on shares of Kaiser Aluminum in a report on Tuesday, January 16th. They set a “neutral” rating and a $67.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Kaiser Aluminum from $68.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $77.00.

Institutional Trading of Kaiser Aluminum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in shares of Kaiser Aluminum by 314.4% in the first quarter. Tower Research Capital LLC TRC now owns 518 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 393 shares during the period. NewEdge Advisors LLC grew its position in shares of Kaiser Aluminum by 2,214.3% in the first quarter. NewEdge Advisors LLC now owns 810 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 775 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Kaiser Aluminum in the second quarter valued at about $80,000. Captrust Financial Advisors grew its position in shares of Kaiser Aluminum by 76.1% in the first quarter. Captrust Financial Advisors now owns 1,016 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 439 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of Kaiser Aluminum by 14.2% in the third quarter. Public Employees Retirement System of Ohio now owns 1,655 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 206 shares during the period. Institutional investors and hedge funds 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.