Federated Hermes Inc. Makes New Investment in Karman Holdings Inc. $KRMN

Federated Hermes Inc. bought a new stake in shares of Karman Holdings Inc. (NYSE:KRMN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 28,457 shares of the company’s stock, valued at approximately $2,055,000.

Several other large investors have also recently made changes to their positions in the stock. J. Safra Sarasin Holding AG purchased a new stake in shares of Karman during the third quarter valued at about $256,000. LBP AM SA lifted its position in Karman by 330.4% during the third quarter. LBP AM SA now owns 39,259 shares of the company’s stock valued at $2,834,000 after acquiring an additional 30,137 shares during the last quarter. Huntleigh Advisors Inc. acquired a new stake in Karman in the third quarter valued at approximately $2,466,000. Amalgamated Bank boosted its stake in Karman by 9.4% in the third quarter. Amalgamated Bank now owns 2,183 shares of the company’s stock valued at $158,000 after acquiring an additional 188 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in Karman by 285.3% in the third quarter. Stephens Investment Management Group LLC now owns 1,336,524 shares of the company’s stock worth $96,497,000 after purchasing an additional 989,608 shares during the last quarter.

Karman Trading Down 12.4%

Shares of Karman stock opened at $97.86 on Thursday. The firm has a 50-day simple moving average of $86.54 and a two-hundred day simple moving average of $71.92. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.69 and a current ratio of 2.86. Karman Holdings Inc. has a fifty-two week low of $25.02 and a fifty-two week high of $118.38. The company has a market cap of $12.95 billion and a P/E ratio of 391.44.

Karman (NYSE:KRMN) last announced its quarterly earnings results on Friday, November 7th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $121.79 million during the quarter. Karman had a return on equity of 11.11% and a net margin of 2.65%.Karman’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 EPS.

Insider Buying and Selling at Karman

In other news, insider Stephanie Sawhill sold 62,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $63.93, for a total value of $3,963,660.00. Following the completion of the sale, the insider directly owned 504,939 shares in the company, valued at $32,280,750.27. The trade was a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Willis sold 115,000 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $58.63, for a total value of $6,742,450.00. Following the transaction, the chief financial officer owned 859,709 shares in the company, valued at $50,404,738.67. This trade represents a 11.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 251,000 shares of company stock valued at $15,419,170.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KRMN. Weiss Ratings reissued a “hold (c-)” rating on shares of Karman in a research report on Monday, December 29th. Evercore ISI raised their price target on shares of Karman from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Truist Financial set a $118.00 target price on Karman in a research report on Friday, January 9th. Citigroup boosted their target price on shares of Karman from $123.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada increased their price target on Karman from $85.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.33.

About Karman

We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.