Kaiser Aluminum Co. (NASDAQ:KALU – Get Rating) declared a quarterly dividend on Thursday, October 13th, investing.com reports. Shareholders of record on Tuesday, October 25th will be given a dividend of 0.77 per share by the industrial products company on Tuesday, November 15th. This represents a $3.08 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Monday, October 24th.
Kaiser Aluminum has increased its dividend by an average of 9.4% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. Kaiser Aluminum has a dividend payout ratio of 58.9% meaning its dividend is sufficiently covered by earnings.
Get Kaiser Aluminum alerts:Kaiser Aluminum Price Performance
KALU stock opened at $77.18 on Friday. Kaiser Aluminum has a 1 year low of $59.24 and a 1 year high of $110.88. The firm has a market capitalization of $1.23 billion, a PE ratio of -857.46 and a beta of 1.09. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.41 and a quick ratio of 1.42. The business has a 50 day simple moving average of $71.63 and a 200-day simple moving average of $81.77.
Kaiser Aluminum (NASDAQ:KALU – Get Rating) last issued its earnings results on Thursday, October 20th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $1.17. Kaiser Aluminum had a positive return on equity of 0.37% and a negative net margin of 0.04%. The company had revenue of $749.00 million during the quarter, compared to analysts' expectations of $682.83 million. During the same period in the prior year, the business earned $0.57 EPS. The firm's quarterly revenue was down .3% on a year-over-year basis.Analyst Ratings Changes
Several research firms recently issued reports on KALU. StockNews.com upgraded shares of Kaiser Aluminum from a "sell" rating to a "hold" rating in a research report on Thursday. Benchmark dropped their price target on shares of Kaiser Aluminum from $120.00 to $105.00 and set an "outperform" rating for the company in a research note on Wednesday, July 27th.
Insider Activity
In related news, CFO Neal E. West sold 400 shares of the firm's stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $73.38, for a total transaction of $29,352.00. Following the completion of the sale, the chief financial officer now directly owns 2,580 shares of the company's stock, valued at approximately $189,320.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,200 shares of company stock valued at $87,820 in the last quarter. Insiders own 1.20% of the company's stock.
Institutional Investors Weigh In On Kaiser Aluminum
Institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its holdings 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 acquiring an additional 265,426 shares during the last quarter. Penn Capital Management Company LLC purchased a new stake in Kaiser Aluminum in the first quarter valued at approximately $11,345,000. Northern Trust Corp lifted its stake in Kaiser Aluminum by 57.6% during the first quarter. Northern Trust Corp now owns 290,976 shares of the industrial products company's stock worth $27,399,000 after purchasing an additional 106,312 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Kaiser Aluminum by 1,312.0% during the second quarter. Renaissance Technologies LLC now owns 70,600 shares of the industrial products company's stock worth $5,584,000 after buying an additional 65,600 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Kaiser Aluminum by 189.9% during the second quarter. JPMorgan Chase & Co. now owns 57,942 shares of the industrial products company's stock worth $4,582,000 after buying an additional 37,954 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.
Kaiser Aluminum Company Profile
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Kaiser Aluminum Corporation engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. The company offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.
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