Kaiser Aluminum (NASDAQ:KALU) Releases Quarterly Earnings Results, Misses Estimates By $0.18 EPS

Kaiser Aluminum (NASDAQ:KALU) issued its quarterly earnings results on Wednesday. The industrial products company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.18), Briefing.com reports. Kaiser Aluminum had a net margin of 1.37% and a return on equity of 6.84%. The company 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 business posted $0.46 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year.

Kaiser Aluminum Price Performance

KALU traded down $0.77 during trading on Thursday, reaching $66.78. The company’s stock had a trading volume of 110,629 shares, compared to its average volume of 140,970. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 18.75 and a beta of 1.33. The firm has a fifty day simple moving average of $71.23 and a two-hundred day simple moving average of $83.20. Kaiser Aluminum has a 1 year low of $53.67 and a 1 year high of $102.42. The company has a quick ratio of 1.42, a current ratio of 2.55 and a debt-to-equity ratio of 1.57.

Kaiser Aluminum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $3.08 annualized dividend and a yield of 4.61%. Kaiser Aluminum’s dividend payout ratio is presently 89.53%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CEO Keith Harvey acquired 2,588 shares of Kaiser Aluminum stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average price of $77.23 per share, for a total transaction of $199,871.24. Following the completion of the transaction, the chief executive officer now owns 103,550 shares in the company, valued at $7,997,166.50. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.50% of the company’s stock.

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.