Kaman Corporation Announces Quarterly Dividend of $0.20 (KAMN)
Kaman Corporation (NYSE:KAMN) announced a quarterly dividend on Tuesday, August 8th, RTT News reports. Stockholders of record on Tuesday, September 19th will be paid a dividend of 0.20 per share by the industrial products company on Thursday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.57%.
Kaman Corporation has increased its dividend payment by an average of 4.0% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Kaman Corporation has a dividend payout ratio of 32.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Kaman Corporation to earn $2.88 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 27.8%.
Shares of Kaman Corporation (NYSE:KAMN) traded down 1.04% during mid-day trading on Wednesday, hitting $50.45. 8,981 shares of the stock traded hands. Kaman Corporation has a 52 week low of $40.85 and a 52 week high of $53.41. The stock has a 50-day moving average of $50.49 and a 200-day moving average of $49.54. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 27.15 and a beta of 0.69.
Kaman Corporation (NYSE:KAMN) last released its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company had revenue of $449 million during the quarter, compared to analyst estimates of $469.24 million. Kaman Corporation had a net margin of 2.95% and a return on equity of 9.24%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 EPS. Analysts anticipate that Kaman Corporation will post $2.48 EPS for the current year.
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Several research analysts have weighed in on KAMN shares. Northcoast Research started coverage on shares of Kaman Corporation in a research note on Tuesday, July 25th. They issued a “buy” rating and a $60.00 price objective on the stock. Zacks Investment Research upgraded shares of Kaman Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, BidaskClub upgraded shares of Kaman Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Kaman Corporation currently has an average rating of “Hold” and an average target price of $54.75.
About Kaman Corporation
Kaman Corporation conducts business in the aerospace and distribution markets. The Company operates through two segments: Distribution and Aerospace. The Company’s brands include KAflex, KAron and K-MAX. Distribution segment is a power transmission, motion control, and fluid power industrial distributor with operations throughout the United States.
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