Kaiser Aluminum Corp. (NASDAQ:KALU) announced a quarterly dividend on Monday, July 15th, NASDAQ reports. Investors of record on Thursday, July 25th will be given a dividend of 0.60 per share by the industrial products company on Thursday, August 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Wednesday, July 24th.
Kaiser Aluminum has raised its dividend by an average of 11.2% per year over the last three years and has raised its dividend every year for the last 7 years. Kaiser Aluminum has a payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Kaiser Aluminum to earn $7.78 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 30.8%.
Kaiser Aluminum stock opened at $96.31 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.29 and a quick ratio of 2.14. Kaiser Aluminum has a 52 week low of $83.29 and a 52 week high of $119.66. The firm has a market capitalization of $1.54 billion, a P/E ratio of 14.89 and a beta of 1.03. The business’s 50-day moving average price is $94.59.
In other news, CFO Neal E. West sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $100.00, for a total transaction of $75,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Keith Harvey sold 500 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $90.00, for a total value of $45,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,050 shares of company stock valued at $1,083,105. Corporate insiders own 1.70% of the company’s stock.
KALU has been the subject of a number of analyst reports. BidaskClub downgraded Ames National from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. ValuEngine raised XCel Brands from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Kaiser Aluminum currently has a consensus rating of “Hold” and an average target price of $108.60.
Kaiser Aluminum Company Profile
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.
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