Kaman Corporation (NYSE:KAMN) Director Sells $121,882.80 in Stock
Kaman Corporation (NYSE:KAMN) Director Richard J. Swift sold 2,404 shares of Kaman Corporation stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $50.70, for a total transaction of $121,882.80. Following the sale, the director now owns 19,937 shares of the company’s stock, valued at $1,010,805.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Kaman Corporation (KAMN) traded down 0.42% during trading on Friday, hitting $49.70. 86,961 shares of the company traded hands. The company’s 50-day moving average is $50.50 and its 200 day moving average is $49.56. Kaman Corporation has a 52-week low of $40.85 and a 52-week high of $53.41. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 26.75 and a beta of 0.69.
Kaman Corporation (NYSE:KAMN) last announced its earnings results on Monday, July 31st. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $449 million for the quarter, compared to analysts’ expectations of $469.24 million. Kaman Corporation had a return on equity of 9.24% and a net margin of 2.95%. The business’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. On average, equities analysts anticipate that Kaman Corporation will post $2.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Tuesday, September 19th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.60%. Kaman Corporation’s dividend payout ratio (DPR) is presently 43.24%.
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Several large investors have recently modified their holdings of KAMN. SG Americas Securities LLC bought a new stake in shares of Kaman Corporation during the second quarter valued at $104,000. Envestnet Asset Management Inc. increased 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 valued at $105,000 after buying an additional 122 shares in the last quarter. Flinton Capital Management LLC bought a new stake in shares of Kaman Corporation during the first quarter valued at $106,000. Ameritas Investment Partners Inc. bought a new stake in shares of Kaman Corporation during the first quarter valued at $112,000. Finally, Huntington National Bank increased its stake in shares of Kaman Corporation by 25.0% in the second quarter. Huntington National Bank now owns 2,500 shares of the industrial products company’s stock valued at $125,000 after buying an additional 500 shares in the last quarter. 99.14% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have commented on KAMN. Zacks Investment Research upgraded shares of Kaman Corporation from a “sell” rating to a “hold” rating in a research note on Thursday. BidaskClub upgraded shares of Kaman Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, Northcoast Research began coverage on shares of Kaman Corporation in a research note on Tuesday, July 25th. They set a “buy” rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus 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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