Kaiser Aluminum (NASDAQ:KALU) Upgraded at Wells Fargo & Company

by · The Markets Daily

Wells Fargo & Company upgraded shares of Kaiser Aluminum (NASDAQ:KALU – Free Report) from an underweight rating to an equal weight rating in a research note published on Friday, Marketbeat reports. Wells Fargo & Company currently has $160.00 price objective on the industrial products company’s stock, down from their prior price objective of $169.00.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings downgraded Kaiser Aluminum from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 2nd. Zacks Research upgraded shares of Kaiser Aluminum from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 2nd. Finally, UBS Group upgraded shares of Kaiser Aluminum from a “neutral” rating to a “buy” rating and increased their price target for the stock from $179.00 to $184.00 in a research note on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Kaiser Aluminum currently has an average rating of “Moderate Buy” and a consensus price target of $167.25.

Read Our Latest Research Report on KALU

Kaiser Aluminum Stock Performance

Kaiser Aluminum stock opened at $150.13 on Friday. Kaiser Aluminum has a fifty-two week low of $73.08 and a fifty-two week high of $199.89. The stock’s 50 day simple moving average is $163.93 and its two-hundred day simple moving average is $160.35. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.17 and a current ratio of 2.50. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 11.13 and a beta of 1.61.

Kaiser Aluminum (NASDAQ:KALU – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $5.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $2.87. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.12 billion. Kaiser Aluminum had a return on equity of 24.71% and a net margin of 5.49%.The business’s revenue was up 52.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 EPS. As a group, analysts expect that Kaiser Aluminum will post 10.63 earnings per share for the current fiscal year.

Kaiser Aluminum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were paid a dividend of $0.77 per share. The ex-dividend date was Friday, July 24th. This represents a $3.08 dividend on an annualized basis and a yield of 2.1%. Kaiser Aluminum’s payout ratio is presently 22.83%.

Institutional Investors Weigh In On Kaiser Aluminum

Several hedge funds have recently added to or reduced their stakes in KALU. Bank of New York Mellon Corp bought a new position in shares of Kaiser Aluminum during the second quarter valued at $38,353,000. Bank of America Corp DE boosted its stake in Kaiser Aluminum by 0.9% in the 1st quarter. Bank of America Corp DE now owns 171,369 shares of the industrial products company’s stock worth $20,652,000 after purchasing an additional 1,508 shares in the last quarter. Fisher Asset Management LLC grew its position in Kaiser Aluminum by 14.0% during the 4th quarter. Fisher Asset Management LLC now owns 157,078 shares of the industrial products company’s stock valued at $18,042,000 after purchasing an additional 19,291 shares during the last quarter. Bridgeway Capital Management LLC grew its position in Kaiser Aluminum by 4.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 125,386 shares of the industrial products company’s stock valued at $14,402,000 after purchasing an additional 5,460 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Kaiser Aluminum by 32.4% during the 1st quarter. Principal Financial Group Inc. now owns 101,510 shares of the industrial products company’s stock valued at $12,233,000 after purchasing an additional 24,853 shares in the last quarter. 99.29% of the stock is owned by institutional investors.

Kaiser Aluminum Company Profile

(Get Free Report)

Kaiser Aluminum Corporation is a manufacturer of semi-fabricated aluminum products. The company produces flat-rolled, extruded and forged aluminum products used by manufacturers in the aerospace, automotive, packaging, industrial and other specialized markets.

Its product portfolio includes aerospace plate and sheet, automotive body sheet, extruded shapes, rod and bar, forged components, and other customized aluminum products. Kaiser Aluminum serves original equipment manufacturers and suppliers that use aluminum for its light weight, strength, durability and recyclability.

The company traces its history to 1946 and operates manufacturing facilities in the United States.

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