Kaiser Aluminum (KALU) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Kaiser Aluminum (NASDAQ:KALU) from a sell rating to a hold rating in a research note published on Thursday.

According to Zacks, “Kaiser Aluminum is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The Company’s North American facilities produce value-added sheet, plate, extrusions, rod, bar, tube, and wire products, adhering to traditions of quality, innovation, and service. Kaiser Aluminum is headquartered in Foothill Ranch, California. “

A number of other research analysts have also issued reports on KALU. BidaskClub upgraded shares of Kaiser Aluminum from a buy rating to a strong-buy rating in a report on Tuesday, February 5th. Jefferies Financial Group upgraded shares of Kaiser Aluminum from a hold rating to a buy rating and set a $123.00 target price on the stock in a report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Kaiser Aluminum has an average rating of Hold and an average target price of $107.75.



Shares of NASDAQ KALU opened at $99.59 on Thursday. The stock has a market capitalization of $1.64 billion, a P/E ratio of 19.57 and a beta of 0.98. Kaiser Aluminum has a 52 week low of $83.29 and a 52 week high of $119.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.48 and a current ratio of 3.50.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Friday, January 25th will be issued a dividend of $0.60 per share. This is a positive change from Kaiser Aluminum’s previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, January 24th. Kaiser Aluminum’s dividend payout ratio is presently 47.15%.

In other news, VP Melinda C. Ellsworth sold 1,100 shares of the stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $95.36, for a total transaction of $104,896.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jack A. Hockema sold 4,500 shares of the stock in a transaction dated Thursday, January 10th. The stock was sold at an average price of $94.82, for a total transaction of $426,690.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,100 shares of company stock worth $681,991. Insiders own 3.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC purchased a new position in shares of Kaiser Aluminum during the 4th quarter worth about $26,000. NEXT Financial Group Inc purchased a new position in shares of Kaiser Aluminum during the 3rd quarter worth about $117,000. BlueMountain Capital Management LLC purchased a new position in shares of Kaiser Aluminum during the 3rd quarter worth about $121,000. Engineers Gate Manager LP purchased a new position in shares of Kaiser Aluminum during the 3rd quarter worth about $203,000. Finally, Paloma Partners Management Co purchased a new position in shares of Kaiser Aluminum during the 3rd quarter worth about $207,000. Institutional investors and hedge funds own 99.28% 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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