Kaman Corporation (KAMN) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of Kaman Corporation (NYSE:KAMN) from a sell rating to a hold rating in a research report report published 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. “
A number of other equities research analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Kaman Corporation from a sell rating to a hold rating in a report on Thursday, September 28th. Northcoast Research assumed coverage on shares of Kaman Corporation in a report on Tuesday, July 25th. They issued a buy rating and a $60.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $56.67.
Shares of Kaman Corporation (NYSE KAMN) traded up 0.42% during mid-day trading on Wednesday, hitting $55.45. The stock had a trading volume of 143,820 shares. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 29.84 and a beta of 0.70. The stock’s 50-day moving average is $50.75 and its 200 day moving average is $49.56. Kaman Corporation has a 1-year low of $40.85 and a 1-year high of $56.50.
Kaman Corporation (NYSE:KAMN) last announced 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). The business had revenue of $449.00 million during the quarter, compared to analysts’ expectations of $469.24 million. Kaman Corporation had a return on equity of 9.24% and a net margin of 2.95%. Kaman Corporation’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. Equities research analysts predict that Kaman Corporation will post $2.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Tuesday, September 19th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 18th. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. Kaman Corporation’s dividend payout ratio is presently 43.24%.
In other news, Director Richard J. Swift sold 2,404 shares of the company’s stock in a transaction that occurred 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 transaction, 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.
A number of institutional investors have recently modified their holdings of the stock. Gamco Investors INC. ET AL lifted its position in Kaman Corporation by 1.4% during the second quarter. Gamco Investors INC. ET AL now owns 3,610,791 shares of the industrial products company’s stock valued at $180,070,000 after purchasing an additional 49,237 shares during the period. BlackRock Inc. lifted its position in Kaman Corporation by 162,013.1% during the first quarter. BlackRock Inc. now owns 3,519,476 shares of the industrial products company’s stock valued at $169,392,000 after purchasing an additional 3,517,305 shares during the period. Vanguard Group Inc. lifted its position in Kaman Corporation by 0.8% during the second quarter. Vanguard Group Inc. now owns 2,427,442 shares of the industrial products company’s stock valued at $121,056,000 after purchasing an additional 18,453 shares during the period. Dimensional Fund Advisors LP lifted its position in Kaman Corporation by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,399,372 shares of the industrial products company’s stock valued at $67,352,000 after purchasing an additional 36,474 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Kaman Corporation by 5.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,192,036 shares of the industrial products company’s stock valued at $57,372,000 after purchasing an additional 60,319 shares during the period. Institutional investors 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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