BidaskClub Upgrades Kaiser Aluminum Corporation (NASDAQ:KALU) to “Strong-Buy”

BidaskClub upgraded shares of Kaiser Aluminum Corporation (NASDAQ:KALU) from a buy rating to a strong-buy rating in a report published on Monday, July 24th.

Other research analysts have also issued research reports about the company. Cowen and Company reissued an outperform rating and set a $96.00 price objective (up previously from $92.00) on shares of Kaiser Aluminum Corporation in a report on Friday, April 21st. Deutsche Bank AG reissued a buy rating on shares of Kaiser Aluminum Corporation in a report on Saturday, June 24th. Zacks Investment Research raised Kaiser Aluminum Corporation from a sell rating to a hold rating in a report on Friday, July 14th. Finally, Bank of America Corporation boosted their price objective on Kaiser Aluminum Corporation from $79.00 to $85.00 and gave the stock an underperform rating in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Kaiser Aluminum Corporation currently has an average rating of Hold and a consensus price target of $96.13.

Shares of Kaiser Aluminum Corporation (KALU) opened at 95.47 on Monday. Kaiser Aluminum Corporation has a 52 week low of $69.41 and a 52 week high of $98.72. The firm’s 50-day moving average is $93.03 and its 200-day moving average is $84.11. The firm has a market capitalization of $1.61 billion, a P/E ratio of 20.97 and a beta of 0.54.

Kaiser Aluminum Corporation (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.46. Kaiser Aluminum Corporation had a return on equity of 11.71% and a net margin of 5.87%. The company had revenue of $356 million during the quarter, compared to analyst estimates of $349.62 million. During the same quarter in the previous year, the firm earned $1.02 earnings per share. Kaiser Aluminum Corporation’s revenue was up 6.3% on a year-over-year basis. Equities analysts anticipate that Kaiser Aluminum Corporation will post $5.47 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Thursday, July 27th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Tuesday, July 25th. Kaiser Aluminum Corporation’s dividend payout ratio is currently 44.44%.

Kaiser Aluminum Corporation announced that its Board of Directors has initiated a stock buyback program on Monday, April 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

In other Kaiser Aluminum Corporation news, CEO Jack A. Hockema sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $91.18, for a total value of $820,620.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Bartholomew sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $92.00, for a total value of $92,000.00. Following the completion of the sale, the director now directly owns 14,344 shares of the company’s stock, valued at approximately $1,319,648. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,599 shares of company stock valued at $1,260,787. 3.00% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. First Mercantile Trust Co. increased its stake in shares of Kaiser Aluminum Corporation by 1.4% in the second quarter. First Mercantile Trust Co. now owns 1,430 shares of the industrial products company’s stock valued at $127,000 after buying an additional 20 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Kaiser Aluminum Corporation by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 5,820 shares of the industrial products company’s stock valued at $465,000 after buying an additional 50 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Kaiser Aluminum Corporation by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 6,140 shares of the industrial products company’s stock valued at $544,000 after buying an additional 62 shares during the last quarter. CNA Financial Corp increased its stake in shares of Kaiser Aluminum Corporation by 1.4% in the first quarter. CNA Financial Corp now owns 7,200 shares of the industrial products company’s stock valued at $575,000 after buying an additional 100 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Kaiser Aluminum Corporation by 0.3% in the second quarter. California Public Employees Retirement System now owns 39,400 shares of the industrial products company’s stock valued at $3,488,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 98.74% of the company’s stock.

Kaiser Aluminum Corporation Company Profile

Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The Company operates in the Fabricated Products segment. The Company’s Fabricated Products segment focuses on producing rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive and general engineering products that include consumer durables, electronics, electrical and machinery and equipment applications.

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