Kaman Corporation (KAMN) Shares Bought by Principal Financial Group Inc.
Principal Financial Group Inc. raised its holdings in Kaman Corporation (NYSE:KAMN) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 226,241 shares of the industrial products company’s stock after purchasing an additional 5,533 shares during the quarter. Principal Financial Group Inc. owned 0.81% of Kaman Corporation worth $11,283,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the business. Two Sigma Securities LLC boosted its holdings in shares of Kaman Corporation by 1.7% in the 1st quarter. Two Sigma Securities LLC now owns 4,330 shares of the industrial products company’s stock valued at $208,000 after purchasing an additional 71 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Kaman Corporation by 0.7% in the 1st quarter. Arizona State Retirement System now owns 14,127 shares of the industrial products company’s stock valued at $680,000 after acquiring an additional 100 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Kaman Corporation by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the industrial products company’s stock valued at $554,000 after acquiring an additional 100 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of 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 acquiring an additional 122 shares during the last quarter. Finally, Texas Permanent School Fund lifted its stake in shares of Kaman Corporation by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 19,850 shares of the industrial products company’s stock valued at $990,000 after acquiring an additional 236 shares during the last quarter. 93.71% of the stock is currently owned by hedge funds and other institutional investors.
KAMN has been the subject of a number of research reports. Zacks Investment Research upgraded Kaman Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. BidaskClub upgraded Kaman Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, Northcoast Research initiated coverage on Kaman Corporation in a research note on Tuesday, July 25th. They issued a “buy” rating and a $60.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $54.75.
Kaman Corporation (NYSE KAMN) opened at 52.57 on Friday. The stock has a 50 day moving average price of $49.59 and a 200-day moving average price of $49.16. The company has a market capitalization of $1.47 billion, a PE ratio of 28.29 and a beta of 0.70. Kaman Corporation has a 52 week low of $40.85 and a 52 week high of $53.41.
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 the 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 company had revenue of $449.00 million during the quarter, compared to analysts’ expectations of $469.24 million. During the same quarter last year, the firm posted $0.64 earnings per share. The firm’s revenue was down 4.6% on a year-over-year basis. On average, equities analysts predict that Kaman Corporation will post $2.48 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Tuesday, September 19th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 18th. This represents a $0.80 annualized dividend and a yield of 1.52%. Kaman Corporation’s dividend payout ratio (DPR) is presently 43.24%.
In related news, Director Richard J. Swift sold 2,404 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $50.70, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.38% of the stock is currently owned by insiders.
Kaman Corporation 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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