Capstone Asset Management Co. Invests $200,000 in Kaman Corporation (KAMN)
Capstone Asset Management Co. acquired a new position in Kaman Corporation (NYSE:KAMN) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,009 shares of the industrial products company’s stock, valued at approximately $200,000.
A number of other hedge funds also recently modified their holdings of KAMN. BNP Paribas Arbitrage SA increased its position in Kaman Corporation by 1.8% in the first quarter. BNP Paribas Arbitrage SA now owns 297,874 shares of the industrial products company’s stock valued at $14,337,000 after buying an additional 5,354 shares during the last quarter. Bank of New York Mellon Corp increased its position in Kaman Corporation by 6.5% in the first quarter. Bank of New York Mellon Corp now owns 414,922 shares of the industrial products company’s stock valued at $19,971,000 after buying an additional 25,381 shares during the last quarter. Flinton Capital Management LLC purchased a new position in Kaman Corporation during the first quarter valued at approximately $106,000. Advisors Asset Management Inc. increased its position in Kaman Corporation by 41.3% in the first quarter. Advisors Asset Management Inc. now owns 23,080 shares of the industrial products company’s stock valued at $1,111,000 after buying an additional 6,750 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Kaman Corporation by 5.9% in the first quarter. First Trust Advisors LP now owns 27,854 shares of the industrial products company’s stock valued at $1,341,000 after buying an additional 1,551 shares during the last quarter. 96.42% of the stock is owned by hedge funds and other institutional investors.
Kaman Corporation (KAMN) traded up 0.19% during midday trading on Tuesday, hitting $48.31. The company’s stock had a trading volume of 21,266 shares. The firm has a market cap of $1.35 billion, a P/E ratio of 26.00 and a beta of 0.69. Kaman Corporation has a 12 month low of $40.85 and a 12 month high of $53.41. The company’s 50 day moving average price is $50.43 and its 200 day moving average price is $49.48.
Kaman Corporation (NYSE:KAMN) last released its earnings results on Monday, July 31st. The industrial products company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.01. Kaman Corporation had a net margin of 2.95% and a return on equity of 9.24%. The firm had revenue of $449 million for the quarter, compared to analysts’ expectations of $469.24 million. During the same quarter last year, the firm posted $0.64 EPS. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. Analysts expect that Kaman Corporation will post $2.48 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Tuesday, September 19th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Monday, September 18th. Kaman Corporation’s dividend payout ratio (DPR) is 43.24%.
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Several equities analysts recently commented on KAMN shares. Zacks Investment Research downgraded Kaman Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. BidaskClub downgraded Kaman Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Finally, Northcoast Research started coverage on Kaman Corporation in a research note on Tuesday, July 25th. They issued a “buy” rating and a $60.00 price objective on the stock. One equities research 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 company currently has an average rating of “Hold” and a consensus target price of $54.75.
In related news, Director Richard J. Swift sold 2,404 shares of Kaman Corporation stock in a transaction 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 transaction, the director now owns 19,937 shares in the company, valued at approximately $1,010,805.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.38% of the stock is currently owned by insiders.
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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