Kaiser Aluminum Co. Announces Quarterly Dividend of $0.77 (NASDAQ:KALU)

Kaiser Aluminum Co. (NASDAQ:KALU) announced a quarterly dividend on Tuesday, October 15th, Zacks reports. Shareholders of record on Friday, October 25th will be given a dividend of 0.77 per share by the industrial products company on Friday, November 15th. This represents a $3.08 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Friday, October 25th.

Kaiser Aluminum has increased its dividend by an average of 4.8% per year over the last three years. Kaiser Aluminum has a payout ratio of 53.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Kaiser Aluminum to earn $7.03 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 43.8%.

Kaiser Aluminum Price Performance

KALU stock opened at $72.09 on Thursday. Kaiser Aluminum has a 1 year low of $53.67 and a 1 year high of $102.42. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.55 and a quick ratio of 1.42. The firm has a market capitalization of $1.16 billion, a PE ratio of 20.96 and a beta of 1.33. The business has a 50 day simple moving average of $70.90 and a 200-day simple moving average of $83.90.

Kaiser Aluminum (NASDAQ:KALU) last issued its earnings results on Wednesday, July 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.29). The company had revenue of $773.40 million during the quarter, compared to analyst estimates of $773.89 million. Kaiser Aluminum had a return on equity of 6.84% and a net margin of 1.37%. The firm’s revenue was down 5.0% compared to the same quarter last year. During the same period last year, the business earned $1.26 earnings per share. Equities research analysts anticipate that Kaiser Aluminum will post 3.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, CEO Keith Harvey purchased 2,588 shares of Kaiser Aluminum stock in a transaction dated Monday, July 29th. The shares were acquired at an average cost of $77.23 per share, with a total value of $199,871.24. Following the purchase, the chief executive officer now owns 103,550 shares of the company’s stock, valued at approximately $7,997,166.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by insiders.

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.