Kaman Corporation (KAMN) Lifted to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Kaman Corporation (NYSE:KAMN) from a sell rating to a hold rating in a report released on Wednesday.
According to Zacks, “Kaman Corporation is in the following business segments: Aerospace, Industrial Distribution, and Music Distribution. The Aerospace segment serves commercial, U.S. defense and foreign government markets. The Industrial Distribution segment serves nearly every sector of U.S. industry with industrial replacement parts as well as support services. The Music Distribution segment serves domestic and foreign markets with a wide variety of music instruments and accessories and manufactures guitars and other music products for professional and amateur musicians. “
Other research analysts have also issued research reports about the company. Northcoast Research started coverage on Kaman Corporation in a research report on Tuesday, July 25th. They set a buy rating and a $60.00 price target for the company. BidaskClub upgraded Kaman Corporation from a strong sell rating to a sell rating in a research report on Thursday, July 6th. 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 company’s stock. The company has a consensus rating of Hold and a consensus target price of $54.75.
Kaman Corporation (NYSE:KAMN) opened at 52.57 on Wednesday. The firm has a 50-day moving average price of $49.59 and a 200 day moving average price of $49.16. Kaman Corporation has a 52-week low of $40.85 and a 52-week high of $53.41. The stock has a market cap of $1.47 billion, a PE ratio of 28.29 and a beta of 0.70.
Kaman Corporation (NYSE:KAMN) last announced its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.01). Kaman Corporation had a return on equity of 9.24% and a net margin of 2.95%. The business had revenue of $449.00 million for the quarter, compared to analyst estimates of $469.24 million. During the same quarter last year, the firm posted $0.64 EPS. The company’s revenue was down 4.6% compared to the same quarter last year. Equities analysts anticipate that Kaman Corporation will post $2.48 earnings per share for the current year.
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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 $0.20 dividend. The ex-dividend date is Monday, September 18th. This represents a $0.80 annualized dividend and a dividend yield of 1.52%. Kaman Corporation’s dividend payout ratio (DPR) is 43.24%.
In other news, Director Richard J. Swift sold 2,404 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $50.70, for a total value of $121,882.80. Following the completion of the sale, the director now owns 19,937 shares in the company, valued at $1,010,805.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.38% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Kaman Corporation in the second quarter valued at $104,000. Envestnet Asset Management Inc. lifted its holdings 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 during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Kaman Corporation in the first quarter valued at $112,000. Huntington National Bank lifted its holdings 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 during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Kaman Corporation by 5.8% in the second quarter. Public Employees Retirement System of Ohio now owns 2,652 shares of the industrial products company’s stock valued at $132,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 93.71% of the company’s stock.
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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