Kaiser Aluminum (NASDAQ:KALU) Earns Buy Rating from Benchmark

Benchmark reiterated their buy rating on shares of Kaiser Aluminum (NASDAQ:KALU) in a research report released on Friday, Benzinga reports. Benchmark currently has a $84.00 price target on the industrial products company’s stock.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their target price on Kaiser Aluminum from $68.00 to $80.00 and gave the company a neutral rating in a research note on Wednesday, April 10th. UBS Group initiated coverage on Kaiser Aluminum in a research note on Tuesday, January 16th. They set a neutral rating and a $67.00 target price on the stock. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $77.00.

Kaiser Aluminum Stock Down 0.8 %

KALU stock opened at $89.49 on Friday. Kaiser Aluminum has a twelve month low of $53.67 and a twelve month high of $95.56. 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 firm has a market cap of $1.43 billion, a PE ratio of 30.65 and a beta of 1.38. The business has a 50 day moving average of $79.51 and a 200 day moving average of $69.30.

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

Kaiser Aluminum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 25th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.44%. Kaiser Aluminum’s dividend payout ratio (DPR) is currently 105.48%.

Hedge Funds Weigh In On Kaiser Aluminum

A number of institutional investors and hedge funds have recently modified their holdings of KALU. State Street Corp boosted its stake in shares of Kaiser Aluminum by 30.6% in the 1st quarter. State Street Corp now owns 1,132,280 shares of the industrial products company’s stock worth $106,615,000 after buying an additional 265,426 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Kaiser Aluminum by 12.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,249,158 shares of the industrial products company’s stock worth $94,012,000 after buying an additional 134,073 shares during the last quarter. Norges Bank purchased a new position in shares of Kaiser Aluminum in the 4th quarter worth $9,886,000. Penn Capital Management Company LLC purchased a new position in shares of Kaiser Aluminum in the 1st quarter worth $11,345,000. Finally, Northern Trust Corp boosted its stake in shares of Kaiser Aluminum by 57.6% in the 1st quarter. Northern Trust Corp now owns 290,976 shares of the industrial products company’s stock worth $27,399,000 after buying an additional 106,312 shares during the last quarter. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

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.