Kaiser Aluminum (NASDAQ:KALU) Hits New 52-Week High – Should You Buy?
by Sarita Garza · The Markets DailyKaiser Aluminum Corporation (NASDAQ:KALU – Get Free Report)’s share price hit a new 52-week high on Tuesday . The company traded as high as $99.71 and last traded at $98.4750, with a volume of 53577 shares trading hands. The stock had previously closed at $96.55.
Analyst Ratings Changes
Several equities research analysts have commented on the company. Zacks Research upgraded Kaiser Aluminum from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Wall Street Zen raised Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. Weiss Ratings upgraded Kaiser Aluminum from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Wells Fargo & Company raised their price objective on Kaiser Aluminum from $90.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Kaiser Aluminum from $82.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $95.67.
View Our Latest Research Report on KALU
Kaiser Aluminum Stock Performance
The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 17.78 and a beta of 1.58. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.48 and a quick ratio of 1.08. The firm has a fifty day moving average of $86.37 and a 200 day moving average of $81.20.
Kaiser Aluminum (NASDAQ:KALU – Get Free Report) last issued its earnings results on Wednesday, April 2nd. The industrial products company reported $1.21 earnings per share (EPS) for the quarter. Kaiser Aluminum had a return on equity of 10.67% and a net margin of 2.85%.The company had revenue of $765.40 million during the quarter. As a group, sell-side analysts forecast that Kaiser Aluminum Corporation will post 5.14 EPS for the current year.
Kaiser Aluminum Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 24th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, October 24th. Kaiser Aluminum’s dividend payout ratio is presently 55.70%.
Insider Activity at Kaiser Aluminum
In related news, EVP Blain Tiffany sold 8,656 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $93.92, for a total transaction of $812,971.52. Following the completion of the sale, the executive vice president directly owned 26,275 shares of the company’s stock, valued at approximately $2,467,748. This trade represents a 24.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Kaiser Aluminum
A number of institutional investors have recently made changes to their positions in KALU. State Street Corp raised its stake in shares of Kaiser Aluminum by 31.9% in the 2nd quarter. State Street Corp now owns 1,154,415 shares of the industrial products company’s stock valued at $92,238,000 after acquiring an additional 279,231 shares during the period. Dimensional Fund Advisors LP increased its holdings in Kaiser Aluminum by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 817,743 shares of the industrial products company’s stock valued at $63,095,000 after purchasing an additional 4,743 shares during the last quarter. American Century Companies Inc. raised its position in Kaiser Aluminum by 9.8% in the third quarter. American Century Companies Inc. now owns 588,720 shares of the industrial products company’s stock valued at $45,426,000 after purchasing an additional 52,512 shares during the period. Wellington Management Group LLP lifted its stake in Kaiser Aluminum by 1.1% during the third quarter. Wellington Management Group LLP now owns 502,446 shares of the industrial products company’s stock worth $38,769,000 after purchasing an additional 5,623 shares in the last quarter. Finally, Tributary Capital Management LLC boosted its position in shares of Kaiser Aluminum by 92.5% during the third quarter. Tributary Capital Management LLC now owns 500,418 shares of the industrial products company’s stock worth $38,612,000 after buying an additional 240,518 shares during the period. 99.29% of the stock is currently owned by institutional investors and hedge funds.
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.
Recommended Stories
- Five stocks we like better than Kaiser Aluminum
- Compound Interest and Why It Matters When Investing
- Worried About Mag 7 Concentration Risk? This ETF Could Help
- Value Investing: Is it a Good Strategy in 2022? (Hint: Always)
- Dell Just Hit a Record in AI Orders—But the Real Test Starts Now
- Buy P&G Now, Before It Sets A New All-Time High
- Here’s Who Wins If Trump’s 50-Year Mortgages Come to Market