Kaiser Aluminum Corporation (NASDAQ:KALU) announced its earnings results on Wednesday, October 18th. The industrial products company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.19), Bloomberg Earnings reports. The business had revenue of $332.80 million for the quarter, compared to the consensus estimate of $335.37 million. Kaiser Aluminum Corporation had a net margin of 6.18% and a return on equity of 11.45%. Kaiser Aluminum Corporation’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.02 EPS.
Shares of Kaiser Aluminum Corporation (KALU) traded up 0.08% during mid-day trading on Friday, hitting $99.22. The stock had a trading volume of 147,910 shares. The company has a market cap of $1.67 billion, a P/E ratio of 21.79 and a beta of 0.54. Kaiser Aluminum Corporation has a 1-year low of $71.01 and a 1-year high of $108.99. The firm’s 50 day moving average price is $101.60 and its 200 day moving average price is $91.85.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, October 25th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, October 24th. This represents a $2.00 annualized dividend and a yield of 2.02%. Kaiser Aluminum Corporation’s dividend payout ratio is presently 41.32%.
In other Kaiser Aluminum Corporation news, Director Alfred E. Osborne, Jr. sold 2,000 shares of Kaiser Aluminum Corporation stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $94.56, for a total value of $189,120.00. Following the completion of the transaction, the director now directly owns 15,622 shares of the company’s stock, valued at approximately $1,477,216.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jack A. Hockema sold 9,000 shares of Kaiser Aluminum Corporation stock in a transaction on Friday, September 29th. The stock was sold at an average price of $102.67, for a total transaction of $924,030.00. The disclosure for this sale can be found here. Insiders sold 25,414 shares of company stock worth $2,538,238 over the last quarter. Insiders own 3.00% of the company’s stock.
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A number of equities research analysts recently weighed in on the company. Cowen and Company cut Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and raised their price target for the company from $96.00 to $97.00 in a report on Monday, August 7th. They noted that the move was a valuation call. Zacks Investment Research cut Kaiser Aluminum Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub cut Kaiser Aluminum Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Finally, Deutsche Bank AG set a $100.00 price target on Kaiser Aluminum Corporation and gave the company a “buy” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $97.25.
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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