Whittier Trust Co. of Nevada Inc. Purchases New Shares in Karman Holdings Inc. $KRMN

Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Karman Holdings Inc. (NYSE:KRMN) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,082 shares of the company’s stock, valued at approximately $1,126,000.

A number of other institutional investors have also added to or reduced their stakes in KRMN. Vanguard Group Inc. increased its stake in Karman by 151.1% in the 4th quarter. Vanguard Group Inc. now owns 9,342,230 shares of the company’s stock valued at $683,571,000 after buying an additional 5,621,556 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Karman by 27.3% in the 4th quarter. Invesco Ltd. now owns 4,088,649 shares of the company’s stock worth $299,166,000 after buying an additional 877,462 shares during the last quarter. State Street Corp grew its holdings in shares of Karman by 35.0% in the fourth quarter. State Street Corp now owns 3,326,430 shares of the company’s stock valued at $243,395,000 after acquiring an additional 862,089 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Karman by 125.3% in the fourth quarter. Van ECK Associates Corp now owns 2,867,379 shares of the company’s stock valued at $209,806,000 after acquiring an additional 1,594,518 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Karman by 49.2% during the fourth quarter. First Trust Advisors LP now owns 2,798,122 shares of the company’s stock valued at $204,739,000 after acquiring an additional 922,925 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KRMN. Citigroup cut their price objective on Karman from $97.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $100.00 target price on shares of Karman in a research report on Tuesday, June 2nd. Robert W. Baird lifted their target price on Karman from $115.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, March 20th. Needham & Company LLC reissued a “buy” rating and issued a $125.00 price target on shares of Karman in a report on Thursday, April 9th. Finally, Weiss Ratings lowered shares of Karman from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Karman presently has an average rating of “Moderate Buy” and a consensus price target of $103.50.

Karman Price Performance

Shares of NYSE KRMN opened at $51.45 on Wednesday. The company has a current ratio of 3.53, a quick ratio of 3.38 and a debt-to-equity ratio of 2.08. The stock has a fifty day simple moving average of $56.72 and a two-hundred day simple moving average of $79.24. Karman Holdings Inc. has a 1-year low of $43.49 and a 1-year high of $118.38. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 223.69 and a beta of 0.51.

Karman (NYSE:KRMN) last issued its earnings results on Tuesday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. Karman had a return on equity of 14.94% and a net margin of 5.73%.The firm had revenue of $151.21 million for the quarter, compared to analyst estimates of $150.19 million. During the same period in the previous year, the company posted $0.05 earnings per share. The business’s revenue was up 51.0% on a year-over-year basis. Analysts anticipate that Karman Holdings Inc. will post 0.58 earnings per share for the current year.

Karman Company Profile

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.