Investment Counselors of Maryland LLC lifted its stake in Kaman Co. (NYSE:KAMN) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 344,796 shares of the industrial products company’s stock after acquiring an additional 8,100 shares during the quarter. Kaman makes up approximately 1.1% of Investment Counselors of Maryland LLC’s investment portfolio, making the stock its 25th largest position. Investment Counselors of Maryland LLC owned approximately 1.23% of Kaman worth $19,340,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC grew its holdings in Kaman by 23.6% during the third quarter. Riverhead Capital Management LLC now owns 6,285 shares of the industrial products company’s stock worth $420,000 after purchasing an additional 1,200 shares during the period. Wells Fargo & Company MN grew its holdings in Kaman by 2.5% during the third quarter. Wells Fargo & Company MN now owns 58,255 shares of the industrial products company’s stock worth $3,890,000 after purchasing an additional 1,406 shares during the period. Morgan Stanley grew its holdings in Kaman by 38.1% during the third quarter. Morgan Stanley now owns 207,539 shares of the industrial products company’s stock worth $13,861,000 after purchasing an additional 57,252 shares during the period. Stevens Capital Management LP bought a new position in Kaman during the third quarter worth about $404,000. Finally, Federated Investors Inc. PA grew its holdings in Kaman by 159,196.2% during the third quarter. Federated Investors Inc. PA now owns 41,417 shares of the industrial products company’s stock worth $2,766,000 after purchasing an additional 41,391 shares during the period. 96.89% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently commented on KAMN shares. Zacks Investment Research cut Kaman from a “hold” rating to a “sell” rating in a report on Friday. ValuEngine cut Kaman from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Kaman presently has an average rating of “Hold” and a consensus price target of $61.95.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Tuesday, March 19th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, March 18th. Kaman’s dividend payout ratio is presently 35.87%.
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Kaman Corporation operates in the aerospace and distribution markets. It operates through two segments, Distribution and Aerospace. The Distribution segment distributes electro-mechanical products; bearings; and power transmission, motion control, and electrical and fluid power components, as well as offers value-added services.
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