Zacks: Kaman Corp. (NYSE:KAMN) Given Average Recommendation of “Buy” by Analysts
Kaman Corp. (NYSE:KAMN) has received an average broker rating score of 1.50 (Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and three have issued a strong buy rating on the company.
Analysts have set a one year consensus price target of $47.50 for the company and are anticipating that the company will post $0.56 EPS for the current quarter, according to Zacks. Zacks has also given Kaman Corp. an industry rank of 162 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research lowered Kaman Corp. from a “buy” rating to a “hold” rating in a report on Tuesday.
Kaman Corp. (NYSE:KAMN) traded up 0.44% during midday trading on Wednesday, hitting $43.84. The company had a trading volume of 32,496 shares. The stock’s 50-day moving average price is $44.34 and its 200-day moving average price is $42.91. The stock has a market cap of $1.19 billion, a PE ratio of 23.33 and a beta of 1.09. Kaman Corp. has a 52-week low of $36.63 and a 52-week high of $45.62.
Kaman Corp. (NYSE:KAMN) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.64. Kaman Corp. had a return on equity of 11.84% and a net margin of 2.89%. The firm had revenue of $470.06 million for the quarter, compared to analyst estimates of $459.13 million. During the same quarter last year, the company posted $0.63 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Kaman Corp. will post $2.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Tuesday, September 20th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Friday, September 16th. Kaman Corp.’s dividend payout ratio is presently 38.30%.
In other Kaman Corp. news, VP John J. Tedone sold 9,442 shares of Kaman Corp. stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $44.82, for a total value of $423,190.44. Following the sale, the vice president now owns 19,190 shares of the company’s stock, valued at approximately $860,095.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neal J. Keating acquired 2,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was acquired at an average cost of $42.65 per share, for a total transaction of $85,300.00. The disclosure for this purchase can be found here. 2.47% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Quantbot Technologies LP raised its stake in shares of Kaman Corp. by 71.7% in the second quarter. Quantbot Technologies LP now owns 2,436 shares of the company’s stock worth $103,000 after buying an additional 1,017 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Kaman Corp. by 6.9% in the second quarter. Public Employees Retirement System of Ohio now owns 2,588 shares of the company’s stock valued at $110,000 after buying an additional 166 shares during the period. Bruderman Asset Management LLC raised its stake in shares of Kaman Corp. by 64.7% in the second quarter. Bruderman Asset Management LLC now owns 3,287 shares of the company’s stock valued at $140,000 after buying an additional 1,291 shares during the period. PineBridge Investments L.P. raised its stake in shares of Kaman Corp. by 4.0% in the second quarter. PineBridge Investments L.P. now owns 3,432 shares of the company’s stock valued at $146,000 after buying an additional 131 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Kaman Corp. by 77.2% in the second quarter. Victory Capital Management Inc. now owns 3,465 shares of the company’s stock valued at $147,000 after buying an additional 1,510 shares during the period. 97.31% of the stock is currently owned by institutional investors.
Kaman Corp. Company Profile
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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