BidaskClub upgraded shares of Kaman Corporation (NYSE:KAMN) from a hold rating to a buy rating in a report issued on Wednesday morning.
Several other brokerages also recently commented on KAMN. Zacks Investment Research downgraded Kaman Corporation from a hold rating to a sell rating in a research note on Tuesday, September 12th. Northcoast Research started coverage on Kaman Corporation in a research note on Tuesday, July 25th. They set a buy rating and a $60.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $56.67.
Shares of Kaman Corporation (NYSE KAMN) traded down 0.04% on Wednesday, hitting $55.43. The stock had a trading volume of 84,750 shares. The company has a market cap of $1.55 billion, a PE ratio of 29.83 and a beta of 0.70. The stock’s 50-day moving average price is $51.11 and its 200 day moving average price is $49.65. Kaman Corporation has a 52 week low of $40.85 and a 52 week high of $56.50.
Kaman Corporation (NYSE:KAMN) last posted its quarterly earnings results 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 company had revenue of $449.00 million during the quarter, compared to the consensus estimate of $469.24 million. Kaman Corporation had a net margin of 2.95% and a return on equity of 9.24%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, analysts predict that Kaman Corporation will post $2.48 EPS for the current year.
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The company also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Tuesday, September 19th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 18th. This represents a $0.80 annualized dividend and a yield of 1.44%. Kaman Corporation’s dividend payout ratio (DPR) is presently 43.24%.
In related news, Director Richard J. Swift sold 2,404 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $50.70, for a total value of $121,882.80. Following the completion of the sale, the director now directly owns 19,937 shares in the company, valued at approximately $1,010,805.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.38% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its stake in Kaman Corporation by 5.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,652 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 145 shares during the period. Dean Capital Management bought a new stake in Kaman Corporation in the 2nd quarter valued at $3,600,000. Westwood Holdings Group Inc. boosted its stake in Kaman Corporation by 35.4% in the 2nd quarter. Westwood Holdings Group Inc. now owns 377,545 shares of the industrial products company’s stock valued at $18,828,000 after purchasing an additional 98,800 shares during the period. State Street Corp boosted its stake in Kaman Corporation by 3.7% in the 2nd quarter. State Street Corp now owns 678,248 shares of the industrial products company’s stock valued at $33,830,000 after purchasing an additional 24,326 shares during the period. Finally, Flinton Capital Management LLC boosted its stake in Kaman Corporation by 67.7% in the 2nd quarter. Flinton Capital Management LLC now owns 3,706 shares of the industrial products company’s stock valued at $185,000 after purchasing an additional 1,496 shares during the period. Institutional investors and hedge funds own 93.71% of the company’s stock.
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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