Kaman Corporation (KAMN) Stake Lessened by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System trimmed its holdings in Kaman Corporation (NYSE:KAMN) by 12.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,252 shares of the industrial products company’s stock after selling 3,700 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.10% of Kaman Corporation worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in KAMN. SG Americas Securities LLC bought a new stake in Kaman Corporation in the 2nd quarter valued at about $104,000. Envestnet Asset Management Inc. increased its position in Kaman Corporation by 5.9% in the 1st 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 Kaman Corporation in the 1st quarter valued at about $106,000. Ameritas Investment Partners Inc. bought a new stake in Kaman Corporation in the 1st quarter valued at about $112,000. Finally, Huntington National Bank increased its position in Kaman Corporation by 25.0% in the 2nd 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. 93.71% of the stock is currently owned by institutional investors.
Shares of Kaman Corporation (NYSE:KAMN) opened at 50.12 on Monday. The firm’s 50-day moving average price is $49.59 and its 200-day moving average price is $49.19. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 26.98 and a beta of 0.70. Kaman Corporation has a one year low of $40.85 and a one year high of $53.41.
Kaman Corporation (NYSE:KAMN) last released its earnings results on Monday, July 31st. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.01). Kaman Corporation had a net margin of 2.95% and a return on equity of 9.24%. The business had revenue of $449.00 million for the quarter, compared to analysts’ expectations of $469.24 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. Kaman Corporation’s revenue for the quarter was down 4.6% on a year-over-year basis. 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 issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $0.80 annualized dividend and a dividend yield of 1.60%. Kaman Corporation’s payout ratio is 43.24%.
A number of analysts recently commented on the company. Zacks Investment Research lowered Kaman Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. BidaskClub lowered Kaman Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Finally, Northcoast Research assumed coverage on Kaman Corporation in a research report on Tuesday, July 25th. They issued a “buy” rating and a $60.00 target price for the company. Two equities research 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. Kaman Corporation presently has a consensus rating of “Hold” and an average target price of $54.75.
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In other news, 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 completion of the transaction, the director now directly owns 19,937 shares in the company, valued at $1,010,805.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.38% of the stock is currently owned by company 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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