Kaman Corporation (KAMN) Given Average Recommendation of “Hold” by Analysts
Kaman Corporation (NYSE:KAMN) has been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $57.50.
A number of analysts recently weighed in on the stock. BidaskClub raised shares of Kaman Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. Zacks Investment Research raised shares of Kaman Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Finally, Northcoast Research assumed coverage on shares of Kaman Corporation in a research note on Tuesday, July 25th. They issued a “buy” rating and a $60.00 price objective for the company.
Shares of Kaman Corporation (NYSE:KAMN) traded up 1.27% on Wednesday, hitting $53.24. 84,098 shares of the company traded hands. Kaman Corporation has a 1-year low of $40.85 and a 1-year high of $53.41. The firm’s 50-day moving average is $49.59 and its 200 day moving average is $49.16. The firm has a market capitalization of $1.49 billion, a P/E ratio of 28.65 and a beta of 0.70.
Kaman Corporation (NYSE:KAMN) last released its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.48 earnings per share 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 during the quarter, compared to analysts’ expectations of $469.24 million. During the same period last year, the company earned $0.64 earnings per share. The firm’s revenue was down 4.6% compared to the same quarter last year. On average, analysts anticipate that Kaman Corporation will post $2.48 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Tuesday, September 19th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Monday, September 18th. Kaman Corporation’s payout ratio is 43.24%.
In other Kaman Corporation news, Director Richard J. Swift sold 2,404 shares of the stock in a transaction dated 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 sale, the director now directly owns 19,937 shares of the company’s stock, valued at $1,010,805.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.38% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its position in shares of Kaman Corporation by 5.8% during 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 last quarter. Dean Capital Management purchased a new stake in shares of Kaman Corporation during the second quarter valued at about $3,600,000. Westwood Holdings Group Inc. increased its holdings in shares of Kaman Corporation by 35.4% during the second quarter. Westwood Holdings Group Inc. now owns 377,545 shares of the industrial products company’s stock valued at $18,828,000 after acquiring an additional 98,800 shares in the last quarter. State Street Corp increased its holdings in shares of Kaman Corporation by 3.7% during the second quarter. State Street Corp now owns 678,248 shares of the industrial products company’s stock valued at $33,830,000 after acquiring an additional 24,326 shares in the last quarter. Finally, Flinton Capital Management LLC increased its holdings in shares of Kaman Corporation by 67.7% during the second quarter. Flinton Capital Management LLC now owns 3,706 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 1,496 shares in the last quarter. 93.71% of the stock is owned by institutional investors and hedge funds.
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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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