Kaiser Aluminum Corporation (NASDAQ:KALU) PT Set at $100.00 by Deutsche Bank AG

Deutsche Bank AG set a $100.00 price objective on Kaiser Aluminum Corporation (NASDAQ:KALU) in a research note issued to investors on Monday, July 31st. The firm currently has a buy rating on the industrial products company’s stock.

Several other research firms also recently commented on KALU. BidaskClub upgraded shares of Kaiser Aluminum Corporation from a hold rating to a buy rating in a research note on Wednesday, June 14th. Zacks Investment Research upgraded shares of Kaiser Aluminum Corporation from a hold rating to a buy rating and set a $108.00 price objective on the stock in a research note on Friday, July 28th. Morgan Stanley reiterated an equal weight rating and set a $87.00 price objective (up from $80.00) on shares of Kaiser Aluminum Corporation in a research note on Tuesday, July 25th. Cowen and Company restated an outperform rating and issued a $96.00 price target (up from $92.00) on shares of Kaiser Aluminum Corporation in a research note on Friday, April 21st. Finally, Bank of America Corporation raised their price target on shares of Kaiser Aluminum Corporation from $79.00 to $85.00 and gave the company an underperform rating in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Kaiser Aluminum Corporation currently has an average rating of Hold and a consensus target price of $96.13.

Shares of Kaiser Aluminum Corporation (NASDAQ KALU) traded down 0.036% on Monday, hitting $96.555. The company had a trading volume of 41,169 shares. The company has a 50-day moving average of $92.40 and a 200 day moving average of $83.90. The stock has a market cap of $1.63 billion, a PE ratio of 21.207 and a beta of 0.54. Kaiser Aluminum Corporation has a 12 month low of $69.41 and a 12 month high of $98.72.

Kaiser Aluminum Corporation (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.46. The company had revenue of $356 million for the quarter, compared to analyst estimates of $349.62 million. Kaiser Aluminum Corporation had a net margin of 5.87% and a return on equity of 11.71%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 earnings per share. Analysts anticipate that Kaiser Aluminum Corporation will post $5.47 EPS for the current fiscal year.

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Kaiser Aluminum Corporation announced that its board has initiated a stock repurchase plan on Monday, April 17th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the industrial products company to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Thursday, July 27th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, July 25th. This represents a $2.00 annualized dividend and a dividend yield of 2.07%. Kaiser Aluminum Corporation’s dividend payout ratio is currently 44.44%.

In related news, VP Mark Krouse sold 1,500 shares of Kaiser Aluminum Corporation stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $96.50, for a total value of $144,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jack A. Hockema sold 9,000 shares of Kaiser Aluminum Corporation stock in a transaction on Monday, July 10th. The stock was sold at an average price of $91.18, for a total transaction of $820,620.00. The disclosure for this sale can be found here. In the last three months, insiders sold 13,599 shares of company stock valued at $1,260,787. 3.00% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Kaiser Aluminum Corporation by 12,449.4% in the first quarter. BlackRock Inc. now owns 2,174,693 shares of the industrial products company’s stock worth $173,757,000 after buying an additional 2,157,364 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Kaiser Aluminum Corporation by 36,359.9% in the first quarter. Victory Capital Management Inc. now owns 498,407 shares of the industrial products company’s stock worth $39,823,000 after buying an additional 497,040 shares during the last quarter. Norges Bank acquired a new stake in Kaiser Aluminum Corporation during the fourth quarter worth approximately $21,690,000. Aberdeen Asset Management PLC UK boosted its stake in Kaiser Aluminum Corporation by 18.2% in the first quarter. Aberdeen Asset Management PLC UK now owns 627,706 shares of the industrial products company’s stock worth $50,154,000 after buying an additional 96,509 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Kaiser Aluminum Corporation by 414.6% in the second quarter. JPMorgan Chase & Co. now owns 94,571 shares of the industrial products company’s stock worth $8,371,000 after buying an additional 76,192 shares during the last quarter. 98.74% of the stock is currently owned by hedge funds and other institutional investors.

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.