Kaiser Aluminum (NASDAQ:KALU) Issues Quarterly Earnings Results, Misses Expectations By $0.16 EPS

Kaiser Aluminum (NASDAQ:KALU) posted its quarterly earnings results on Wednesday. The industrial products company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.16), Briefing.com reports. Kaiser Aluminum had a return on equity of 6.84% and a net margin of 1.37%. The business had revenue of $748.00 million during the quarter, compared to analysts’ expectations of $793.30 million. During the same period in the prior year, the firm posted $0.46 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis.

Kaiser Aluminum Stock Down 0.4 %

Shares of KALU opened at $67.31 on Friday. 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 stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 19.57 and a beta of 1.33. Kaiser Aluminum has a 1 year low of $53.67 and a 1 year high of $102.42. The business’s 50 day simple moving average is $71.17 and its 200-day simple moving average is $83.09.

Kaiser Aluminum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Friday, October 25th. Kaiser Aluminum’s dividend payout ratio is presently 89.53%.

Insider Activity at Kaiser Aluminum

In other Kaiser Aluminum news, CEO Keith Harvey purchased 2,588 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average price of $77.23 per share, with a total value of $199,871.24. Following the completion of the purchase, the chief executive officer now directly owns 103,550 shares in the company, valued at $7,997,166.50. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Benchmark boosted their target price 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.

About Kaiser Aluminum

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.