Zacks Investment Research lowered shares of Kaman Corporation (NYSE:KAMN) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday, November 1st.
According to Zacks, “Kaman Corporation is in the following business segments: Aerospace, Industrial Distribution, and Music Distribution. The Aerospace segment serves commercial, U.S. defense and foreign government markets. The Industrial Distribution segment serves nearly every sector of U.S. industry with industrial replacement parts as well as support services. The Music Distribution segment serves domestic and foreign markets with a wide variety of music instruments and accessories and manufactures guitars and other music products for professional and amateur musicians. “
A number of other research firms also recently issued reports on KAMN. BidaskClub upgraded shares of Kaman Corporation from a hold rating to a buy rating in a research note on Wednesday, October 4th. Northcoast Research assumed coverage on shares of Kaman Corporation in a research note on Tuesday, July 25th. They set a buy rating and a $60.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $56.67.
Kaman Corporation (NYSE:KAMN) last released its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.07. Kaman Corporation had a net margin of 2.90% and a return on equity of 9.30%. The firm had revenue of $447.00 million for the quarter, compared to the consensus estimate of $461.06 million. During the same period last year, the firm earned $0.64 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. analysts expect that Kaman Corporation will post 2.34 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Tuesday, December 19th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 18th. This represents a $0.80 annualized dividend and a yield of 1.40%. Kaman Corporation’s dividend payout ratio (DPR) is 44.20%.
In other Kaman Corporation news, Director Richard J. Swift sold 1,235 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $56.00, for a total value of $69,160.00. Following the completion of the sale, the director now directly owns 18,702 shares in the company, valued at $1,047,312. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director E Reeves Callaway III sold 2,697 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $56.41, for a total transaction of $152,137.77. The disclosure for this sale can be found here. 2.38% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of KAMN. UBS Asset Management Americas Inc. raised its holdings in shares of Kaman Corporation by 51.8% in the first quarter. UBS Asset Management Americas Inc. now owns 7,033 shares of the industrial products company’s stock worth $338,000 after buying an additional 2,400 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Kaman Corporation by 5.9% during the first quarter. Envestnet Asset Management Inc. now owns 2,176 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 122 shares during the last quarter. Teachers Advisors LLC raised its holdings in shares of Kaman Corporation by 16.3% during the first quarter. Teachers Advisors LLC now owns 66,284 shares of the industrial products company’s stock worth $3,190,000 after purchasing an additional 9,310 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Kaman Corporation by 25.6% during the first quarter. TIAA CREF Investment Management LLC now owns 96,402 shares of the industrial products company’s stock worth $4,640,000 after purchasing an additional 19,640 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its holdings in shares of Kaman Corporation by 4.6% during the first quarter. Thrivent Financial For Lutherans now owns 15,300 shares of the industrial products company’s stock worth $736,000 after purchasing an additional 670 shares during the last quarter. 94.87% of the stock is owned by institutional investors and hedge funds.
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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