Ameriprise Financial Inc. Acquires 7,894 Shares of Kaman Co. (KAMN)
Ameriprise Financial Inc. boosted its holdings in shares of Kaman Co. (NYSE:KAMN) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 164,413 shares of the industrial products company’s stock after purchasing an additional 7,894 shares during the period. Ameriprise Financial Inc. owned approximately 0.59% of Kaman worth $9,172,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in Kaman by 202.8% during the third quarter. SG Americas Securities LLC now owns 6,343 shares of the industrial products company’s stock valued at $354,000 after purchasing an additional 4,248 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Kaman by 7.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 686,500 shares of the industrial products company’s stock valued at $38,293,000 after acquiring an additional 50,218 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Kaman by 3.7% in the 3rd quarter. Rhumbline Advisers now owns 59,744 shares of the industrial products company’s stock valued at $3,333,000 after acquiring an additional 2,144 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of Kaman by 36.0% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 15,500 shares of the industrial products company’s stock valued at $865,000 after acquiring an additional 4,100 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Kaman by 52.6% in the 3rd quarter. New York State Common Retirement Fund now owns 44,714 shares of the industrial products company’s stock valued at $2,494,000 after acquiring an additional 15,414 shares in the last quarter. 92.57% of the stock is owned by institutional investors and hedge funds.
Kaman Co. (NYSE KAMN) opened at $58.11 on Friday. Kaman Co. has a 12 month low of $45.50 and a 12 month high of $60.43. The company has a market cap of $1,621.34, a price-to-earnings ratio of 29.89 and a beta of 0.75. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.35 and a current ratio of 2.85.
Kaman (NYSE:KAMN) last announced its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.07. Kaman had a net margin of 2.90% and a return on equity of 9.30%. The company had revenue of $447.00 million for the quarter, compared to analyst estimates of $461.06 million. During the same quarter in the prior year, the business posted $0.64 EPS. Kaman’s quarterly revenue was down 1.4% on a year-over-year basis. research analysts forecast that Kaman Co. will post 2.34 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Tuesday, December 19th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 18th. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. Kaman’s dividend payout ratio (DPR) is 44.20%.
Several research analysts have weighed in on the stock. BidaskClub upgraded shares of Kaman from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 21st. Zacks Investment Research lowered shares of Kaman from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Kaman presently has a consensus rating of “Hold” and a consensus target price of $57.50.
In related news, Director E Reeves Callaway III sold 2,697 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $56.41, for a total transaction of $152,137.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard J. Swift sold 1,235 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $56.00, for a total transaction of $69,160.00. Following the sale, the director now directly owns 18,702 shares of the company’s stock, valued at $1,047,312. The disclosure for this sale can be found here. Corporate insiders own 2.38% of the company’s stock.
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Kaman 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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