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.
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.
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