Kaiser Aluminum (NASDAQ:KALU) Downgraded by ValuEngine to Sell

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ValuEngine cut shares of Kaiser Aluminum (NASDAQ:KALU) from a hold rating to a sell rating in a report issued on Saturday, ValuEngine reports.

Several other research firms also recently commented on KALU. Goldman Sachs Group upgraded shares of Kaiser Aluminum from a sell rating to a neutral rating and set a $97.00 target price on the stock in a research report on Thursday, August 8th. Zacks Investment Research upgraded shares of Kaiser Aluminum from a hold rating to a buy rating and set a $109.00 target price on the stock in a research report on Saturday, October 12th. Finally, BidaskClub upgraded shares of Kaiser Aluminum from a sell rating to a hold rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Kaiser Aluminum presently has a consensus rating of Hold and a consensus price target of $109.67.

Shares of KALU traded down $0.49 during mid-day trading on Friday, reaching $98.15. The company had a trading volume of 72,022 shares, compared to its average volume of 116,512. The company’s 50 day simple moving average is $96.34 and its 200 day simple moving average is $96.04. Kaiser Aluminum has a 1-year low of $83.29 and a 1-year high of $114.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.34 and a current ratio of 3.63. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 15.17 and a beta of 1.07.

Kaiser Aluminum (NASDAQ:KALU) last posted its earnings results on Wednesday, July 24th. The industrial products company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.33 by $0.07. Kaiser Aluminum had a net margin of 5.96% and a return on equity of 14.23%. The business had revenue of $375.00 million for the quarter, compared to the consensus estimate of $388.25 million. During the same period last year, the company earned $1.68 EPS. The firm’s revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts forecast that Kaiser Aluminum will post 7.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $2.40 annualized dividend and a yield of 2.45%. Kaiser Aluminum’s payout ratio is 37.09%.

In other Kaiser Aluminum news, CEO Jack A. Hockema sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $95.96, for a total transaction of $1,199,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Keith Harvey sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $99.10, for a total transaction of $148,650.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,350 shares of company stock valued at $3,153,460. Company insiders own 1.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. raised its holdings in Kaiser Aluminum by 255.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 420 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 302 shares during the last quarter. First Interstate Bank increased its stake in shares of Kaiser Aluminum by 18.9% in the 2nd quarter. First Interstate Bank now owns 1,445 shares of the industrial products company’s stock valued at $141,000 after acquiring an additional 230 shares in the last quarter. ARK Investment Management LLC bought a new stake in shares of Kaiser Aluminum in the 2nd quarter valued at $352,000. Laurion Capital Management LP bought a new stake in shares of Kaiser Aluminum in the 2nd quarter valued at $368,000. Finally, Delphi Management Inc. MA bought a new stake in shares of Kaiser Aluminum in the 3rd quarter valued at $369,000. Hedge funds and other institutional investors own 97.46% of the company’s stock.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.

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