Kaiser Aluminum (NASDAQ:KALU) Sets New 12-Month High – What’s Next?

Kaiser Aluminum Corporation (NASDAQ:KALU) reached a new 52-week high during trading on Tuesday . The company traded as high as $111.09 and last traded at $111.61, with a volume of 23387 shares trading hands. The stock had previously closed at $109.91.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on KALU shares. Zacks Research upgraded shares of Kaiser Aluminum from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kaiser Aluminum in a research note on Monday. Wells Fargo & Company increased their price objective on Kaiser Aluminum from $90.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Wall Street Zen upgraded Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. Finally, JPMorgan Chase & Co. upped their price target on Kaiser Aluminum from $82.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Kaiser Aluminum presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.67.

Kaiser Aluminum Price Performance

The company has a market cap of $1.80 billion, a price-to-earnings ratio of 20.09 and a beta of 1.51. The company has a 50-day simple moving average of $93.41 and a 200-day simple moving average of $84.04. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.08 and a current ratio of 2.48.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings results on Wednesday, April 2nd. The industrial products company reported $1.21 EPS for the quarter. Kaiser Aluminum had a return on equity of 10.67% and a net margin of 2.85%.The business had revenue of $765.40 million during the quarter. As a group, research analysts predict that Kaiser Aluminum Corporation will post 5.14 earnings per share for the current year.

Kaiser Aluminum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 24th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, October 24th. Kaiser Aluminum’s payout ratio is presently 55.70%.

Insider Activity

In other news, EVP Blain Tiffany sold 8,656 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $93.92, for a total value of $812,971.52. Following the completion of the transaction, the executive vice president owned 26,275 shares in the company, valued at $2,467,748. This trade represents a 24.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Voya Investment Management LLC lifted its holdings in shares of Kaiser Aluminum by 40.5% in the first quarter. Voya Investment Management LLC now owns 18,628 shares of the industrial products company’s stock valued at $1,129,000 after purchasing an additional 5,372 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Kaiser Aluminum by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 536,208 shares of the industrial products company’s stock worth $42,843,000 after purchasing an additional 36,894 shares in the last quarter. Nuveen LLC acquired a new position in shares of Kaiser Aluminum during the 1st quarter worth approximately $2,622,000. Envestnet Asset Management Inc. lifted its stake in Kaiser Aluminum by 62.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 66,773 shares of the industrial products company’s stock valued at $5,335,000 after buying an additional 25,546 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Kaiser Aluminum by 175.2% during the 2nd quarter. Hsbc Holdings PLC now owns 16,353 shares of the industrial products company’s stock valued at $1,319,000 after buying an additional 10,410 shares during the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.

About Kaiser Aluminum

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.