Kaiser Aluminum Corp. Declares Quarterly Dividend of $0.55 (KALU)

Kaiser Aluminum Corp. (NASDAQ:KALU) announced a quarterly dividend on Tuesday, October 16th, Wall Street Journal reports. Stockholders of record on Thursday, October 25th will be given a dividend of 0.55 per share by the industrial products company on Thursday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Wednesday, October 24th.

Kaiser Aluminum has increased its dividend payment by an average of 12.6% per year over the last three years and has increased its dividend every year for the last 6 years. Kaiser Aluminum has a payout ratio of 33.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kaiser Aluminum to earn $7.55 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 29.1%.

NASDAQ:KALU opened at $95.81 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 3.63. Kaiser Aluminum has a 52 week low of $90.93 and a 52 week high of $119.66. The firm has a market capitalization of $1.79 billion, a PE ratio of 18.15, a PEG ratio of 1.11 and a beta of 0.70.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings data on Wednesday, October 17th. The industrial products company reported $1.43 EPS for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.12). Kaiser Aluminum had a net margin of 3.41% and a return on equity of 13.27%. The firm had revenue of $393.10 million during the quarter, compared to the consensus estimate of $383.84 million. During the same period in the prior year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. Equities research analysts forecast that Kaiser Aluminum will post 6.47 earnings per share for the current year.

Several research analysts recently issued reports on KALU shares. BidaskClub lowered shares of Kaiser Aluminum from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. ValuEngine lowered shares of Kaiser Aluminum from a “buy” rating to a “hold” rating in a research note on Thursday, June 28th. Zacks Investment Research lowered shares of Kaiser Aluminum from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. Jefferies Financial Group started coverage on shares of Kaiser Aluminum in a research note on Monday, July 16th. They set a “hold” rating and a $122.00 target price on the stock. Finally, Credit Suisse Group increased their target price on shares of Kaiser Aluminum from $102.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $107.63.

In related news, Director Jack Quinn sold 1,313 shares of the stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $110.33, for a total transaction of $144,863.29. Following the transaction, the director now directly owns 8,789 shares of the company’s stock, valued at $969,690.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jack A. Hockema sold 6,000 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $111.91, for a total transaction of $671,460.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,413 shares of company stock worth $939,776. 3.20% of the stock is owned by insiders.

Kaiser Aluminum Company Profile

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.

Featured Story: Why do earnings reports matter?

Dividend History for Kaiser Aluminum (NASDAQ:KALU)

Receive News & Ratings for Kaiser Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kaiser Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply