Kaiser Aluminum Corporation (NASDAQ:KALU – Get Free Report) announced a quarterly dividend on Tuesday, October 13th. Investors of record on Friday, October 23rd will be given a dividend of $0.77 per share by the industrial products company on Friday, November 13th. This represents a $3.08 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, October 23rd.
Kaiser Aluminum has a payout ratio of 47.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kaiser Aluminum to earn $10.12 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 30.4%.
Kaiser Aluminum Stock Up 0.9%
Shares of NASDAQ KALU opened at $151.81 on Wednesday. The company has a current ratio of 2.50, a quick ratio of 1.17 and a debt-to-equity ratio of 1.10. Kaiser Aluminum has a 12 month low of $77.24 and a 12 month high of $199.89. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 11.25 and a beta of 1.59. The business has a 50-day moving average of $160.24 and a 200-day moving average of $164.13.
Hedge Funds Weigh In On Kaiser Aluminum
Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in Kaiser Aluminum during the second quarter worth approximately $38,353,000. Bank of America Corp DE increased its stake in shares of Kaiser Aluminum by 0.9% during the first quarter. Bank of America Corp DE now owns 171,369 shares of the industrial products company’s stock valued at $20,652,000 after buying an additional 1,508 shares during the period. Bridgeway Capital Management LLC raised its holdings in shares of Kaiser Aluminum by 4.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 125,386 shares of the industrial products company’s stock valued at $14,402,000 after purchasing an additional 5,460 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Kaiser Aluminum by 32.4% during the first quarter. Principal Financial Group Inc. now owns 101,510 shares of the industrial products company’s stock valued at $12,233,000 after buying an additional 24,853 shares during the period. Finally, Empowered Funds LLC raised its holdings in Kaiser Aluminum by 3.8% in the first quarter. Empowered Funds LLC now owns 76,781 shares of the industrial products company’s stock worth $9,253,000 after purchasing an additional 2,829 shares in the last quarter. Hedge funds and other institutional investors own 99.29% of the company’s stock.
Kaiser Aluminum Company Profile
Kaiser Aluminum Corporation is a manufacturer of semi-fabricated aluminum products serving customers in the aerospace, automotive, industrial, packaging, and other end markets. The company produces engineered aluminum products designed for applications that require characteristics such as strength, light weight, corrosion resistance, and thermal conductivity.
Its product portfolio includes rolled aluminum sheet and plate, extruded products, forged components, and other specialty products.
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