Kaiser Aluminum (NASDAQ:KALU) Stock Price Up 8.2% - Here's Why

Kaiser Aluminum Co. (NASDAQ:KALU - Get Free Report) rose 8.2% during mid-day trading on Monday . The stock traded as high as $73.91 and last traded at $73.91. Approximately 119,518 shares were traded during trading, a decline of 17% from the average daily volume of 143,738 shares. The stock had previously closed at $68.34.

Analyst Ratings Changes

Separately, Benchmark upped their price objective on shares of Kaiser Aluminum from $84.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, July 12th.

Kaiser Aluminum Trading Up 11.3 %

The company has a current ratio of 2.55, a quick ratio of 1.42 and a debt-to-equity ratio of 1.57. The business's fifty day simple moving average is $71.15 and its two-hundred day simple moving average is $82.79. The stock has a market capitalization of $1.22 billion, a P/E ratio of 21.61 and a beta of 1.33.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.16). Kaiser Aluminum had a net margin of 1.37% and a return on equity of 6.84%. The business had revenue of $748.00 million during the quarter, compared to analyst estimates of $793.30 million. During the same quarter in the prior year, the company posted $0.46 EPS. The company's quarterly revenue was up .5% compared to the same quarter last year. As a group, analysts forecast that Kaiser Aluminum Co. will post 2.99 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend 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

Hedge funds have recently made changes to their positions in the business. Everence Capital Management Inc. increased its position in shares of Kaiser Aluminum by 89.3% during the 3rd quarter. Everence Capital Management Inc. now owns 4,580 shares of the industrial products company's stock worth $332,000 after purchasing an additional 2,160 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Kaiser Aluminum in the third quarter valued at approximately $65,000. CWM LLC grew its holdings in shares of Kaiser Aluminum by 125.3% during the third quarter. CWM LLC now owns 1,282 shares of the industrial products company's stock worth $93,000 after purchasing an additional 713 shares during the last quarter. Truist Financial Corp bought a new stake in shares of Kaiser Aluminum during the second quarter worth $340,000. Finally, Algert Global LLC grew its holdings in shares of Kaiser Aluminum by 26.2% during the second quarter. Algert Global LLC now owns 60,647 shares of the industrial products company's stock worth $5,331,000 after purchasing an additional 12,584 shares during the last quarter. Institutional investors and hedge funds own 99.29% of the company's stock.

Kaiser Aluminum Company Profile

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.

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