Louisiana State Employees Retirement System Boosts Position in Kaman Corporation (NYSE:KAMN)
Louisiana State Employees Retirement System increased its stake in shares of Kaman Corporation (NYSE:KAMN) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,100 shares of the industrial products company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Kaman Corporation were worth $554,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its stake in shares of Kaman Corporation by 5.9% in the first quarter. Envestnet Asset Management Inc. now owns 2,176 shares of the industrial products company’s stock worth $105,000 after buying an additional 122 shares during the last quarter. Flinton Capital Management LLC acquired a new stake in shares of Kaman Corporation during the first quarter worth about $106,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Kaman Corporation during the first quarter worth about $112,000. State of Alaska Department of Revenue raised its stake in shares of Kaman Corporation by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 2,990 shares of the industrial products company’s stock worth $143,000 after buying an additional 60 shares during the last quarter. Finally, Americafirst Capital Management LLC acquired a new stake in shares of Kaman Corporation during the first quarter worth about $196,000. 99.14% of the stock is currently owned by institutional investors.
Shares of Kaman Corporation (NYSE KAMN) traded down 1.48% during mid-day trading on Thursday, reaching $49.80. The company had a trading volume of 30,857 shares. Kaman Corporation has a 52-week low of $40.85 and a 52-week high of $53.41. The company has a market capitalization of $1.39 billion, a PE ratio of 26.80 and a beta of 0.69. The company’s 50-day moving average price is $50.49 and its 200-day moving average price is $49.56.
Kaman Corporation (NYSE:KAMN) last posted 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 firm had revenue of $449 million for the quarter, compared to analyst estimates of $469.24 million. Kaman Corporation had a return on equity of 9.24% and a net margin of 2.95%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. On average, analysts forecast that Kaman Corporation will post $2.48 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Tuesday, September 19th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Monday, September 18th. Kaman Corporation’s payout ratio is 43.24%.
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KAMN has been the topic of a number of analyst reports. Zacks Investment Research raised Kaman Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. BidaskClub raised Kaman Corporation from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, Northcoast Research initiated coverage on Kaman Corporation in a research report on Tuesday, July 25th. They set a “buy” rating and a $60.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $54.75.
Kaman Corporation Company Profile
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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