Kaiser Aluminum (NASDAQ:KALU) Stock Price Up 8.2% – Here’s Why

Shares of Kaiser Aluminum Co. (NASDAQ:KALU) shot up 8.2% during trading on Monday . The stock traded as high as $73.91 and last traded at $73.91. 119,518 shares were traded during trading, a decline of 17% from the average session volume of 143,738 shares. The stock had previously closed at $68.34.

Wall Street Analyst Weigh In

Separately, Benchmark increased their target price on Kaiser Aluminum from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, July 12th.

Kaiser Aluminum Stock Performance

The firm has a fifty day moving average of $71.15 and a 200-day moving average of $82.79. The firm has a market cap of $1.22 billion, a P/E ratio of 21.61 and a beta of 1.33. The company has a quick ratio of 1.42, a current ratio of 2.55 and a debt-to-equity ratio of 1.57.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.16). The firm had revenue of $748.00 million during the quarter, compared to the consensus estimate of $793.30 million. Kaiser Aluminum had a net margin of 1.37% and a return on equity of 6.84%. Kaiser Aluminum’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 EPS. Research analysts predict that Kaiser Aluminum Co. will post 2.99 earnings per share for the current fiscal year.

Kaiser Aluminum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Friday, October 25th. Kaiser Aluminum’s dividend payout ratio is 89.53%.

Hedge Funds Weigh In On Kaiser Aluminum

Several hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in Kaiser Aluminum by 0.6% during the second quarter. Rhumbline Advisers now owns 51,374 shares of the industrial products company’s stock worth $4,516,000 after buying an additional 314 shares during the last quarter. National Bank of Canada FI bought a new position in Kaiser Aluminum during the second quarter worth about $32,000. EntryPoint Capital LLC boosted its holdings in Kaiser Aluminum by 79.7% during the first quarter. EntryPoint Capital LLC now owns 861 shares of the industrial products company’s stock worth $77,000 after buying an additional 382 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Kaiser Aluminum by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 7,893 shares of the industrial products company’s stock worth $694,000 after buying an additional 394 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Kaiser Aluminum by 3.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,430 shares of the industrial products company’s stock worth $1,093,000 after buying an additional 397 shares during the last quarter. Institutional investors own 99.29% of the company’s stock.

About Kaiser Aluminum

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.