Kaman Corp. (KAMN) Downgraded to Hold at Zacks Investment Research
According to Zacks, “Kaman Corporation is in the following business segments: Aerospace, Industrial Distribution, and Music Distribution. The Aerospace segment serves commercial, U.S. defense and foreign government markets. The Industrial Distribution segment serves nearly every sector of U.S. industry with industrial replacement parts as well as support services. The Music Distribution segment serves domestic and foreign markets with a wide variety of music instruments and accessories and manufactures guitars and other music products for professional and amateur musicians. “
Shares of Kaman Corp. (NYSE:KAMN) opened at 43.65 on Tuesday. Kaman Corp. has a 1-year low of $36.63 and a 1-year high of $45.62. The stock has a 50 day moving average price of $44.34 and a 200 day moving average price of $42.91. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 23.23 and a beta of 1.09.
Kaman Corp. (NYSE:KAMN) last issued its earnings results on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.64. Kaman Corp. had a net margin of 2.89% and a return on equity of 11.84%. The firm earned $470.06 million during the quarter, compared to analysts’ expectations of $459.13 million. During the same quarter last year, the company posted $0.63 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Kaman Corp. will post $2.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Tuesday, September 20th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, September 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.65%. Kaman Corp.’s dividend payout ratio (DPR) is presently 38.30%.
In other news, CEO Neal J. Keating acquired 2,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was bought at an average price of $42.65 per share, with a total value of $85,300.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory L. Steiner sold 4,005 shares of Kaman Corp. stock in a transaction on Monday, August 15th. The shares were sold at an average price of $44.10, for a total transaction of $176,620.50. The disclosure for this sale can be found here. Corporate insiders own 2.47% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KAMN. Vanguard Group Inc. boosted its position in Kaman Corp. by 3.9% in the second quarter. Vanguard Group Inc. now owns 2,129,903 shares of the company’s stock worth $90,563,000 after buying an additional 79,637 shares during the last quarter. BlackRock Fund Advisors boosted its position in Kaman Corp. by 3.3% in the second quarter. BlackRock Fund Advisors now owns 1,750,293 shares of the company’s stock worth $74,422,000 after buying an additional 55,321 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Kaman Corp. by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,316,817 shares of the company’s stock worth $55,991,000 after buying an additional 36,297 shares during the last quarter. FMR LLC boosted its position in Kaman Corp. by 9.6% in the second quarter. FMR LLC now owns 1,221,889 shares of the company’s stock worth $51,955,000 after buying an additional 107,348 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Kaman Corp. by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 701,696 shares of the company’s stock worth $29,955,000 after buying an additional 8,321 shares during the last quarter. 97.31% of the stock is owned by institutional investors.
About Kaman Corp.
Kaman Corporation conducts business in the aerospace and distribution markets. The Company operates through two segments: Distribution and Aerospace. Its Distribution segment is a power transmission, motion control, electrical and automation, and fluid power industrial distributor. It provides products, including bearings, mechanical and electrical power transmission, fluid power, motion control, automation, material handling components, electrical control and power distribution, and maintenance, repair and overhaul (MRO) supplies to a spectrum of industrial markets.
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