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

Kaiser Aluminum Co. (NASDAQ:KALU) declared a quarterly dividend on Friday, October 11th, Zacks reports. Shareholders of record on Friday, October 25th will be paid 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 dividend yield of 4.56%. The ex-dividend date of this dividend is Friday, October 25th.

Kaiser Aluminum has increased its dividend payment by an average of 4.8% annually over the last three years. Kaiser Aluminum has a dividend payout ratio of 57.9% indicating that its dividend is sufficiently covered by earnings. Equities research 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

Shares of NASDAQ KALU opened at $67.55 on Thursday. The company has a 50 day simple moving average of $71.23 and a two-hundred day simple moving average of $83.20. Kaiser Aluminum has a fifty-two week low of $53.67 and a fifty-two week high of $102.42. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.42 and a current ratio of 2.55. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 19.64 and a beta of 1.33.

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

Analyst Upgrades and Downgrades

Separately, Benchmark increased their price target 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.

Insider Buying and Selling

In related news, CEO Keith Harvey bought 2,588 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average price of $77.23 per share, for a total transaction of $199,871.24. Following the completion of the acquisition, the chief executive officer now owns 103,550 shares of the company’s stock, valued at $7,997,166.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.50% of the stock is currently owned by corporate 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.