Zacks Investment Research cut shares of Kaman Corporation (NYSE:KAMN) from a hold rating to a sell rating in a report released on Tuesday morning.
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. “
Several other equities research analysts also recently weighed in on the stock. BidaskClub raised shares of Kaman Corporation from a strong sell rating to a sell rating in a research note on Saturday, June 10th. Northcoast Research assumed coverage on shares of Kaman Corporation in a research note on Tuesday, July 25th. They issued a buy rating and a $60.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $54.75.
Shares of Kaman Corporation (KAMN) opened at 50.26 on Tuesday. Kaman Corporation has a 52-week low of $40.85 and a 52-week high of $53.41. The stock has a market cap of $1.40 billion, a PE ratio of 27.05 and a beta of 0.70. The stock’s 50 day moving average is $49.69 and its 200 day moving average is $49.20.
Kaman Corporation (NYSE:KAMN) last issued its 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). Kaman Corporation had a return on equity of 9.24% and a net margin of 2.95%. The company had revenue of $449.00 million for the quarter, compared to the consensus estimate of $469.24 million. During the same quarter in the prior year, the company posted $0.64 EPS. Kaman Corporation’s revenue was down 4.6% compared to the same quarter last year. Equities research analysts forecast that Kaman Corporation will post $2.48 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Tuesday, September 19th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.59%. The ex-dividend date is Monday, September 18th. Kaman Corporation’s dividend payout ratio is presently 43.24%.
In other Kaman Corporation news, Director Richard J. Swift sold 2,404 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $50.70, for a total transaction of $121,882.80. Following the transaction, the director now directly owns 19,937 shares in the company, valued at approximately $1,010,805.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.38% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Two Sigma Securities LLC boosted its holdings in shares of Kaman Corporation by 1.7% in the 1st quarter. Two Sigma Securities LLC now owns 4,330 shares of the industrial products company’s stock valued at $208,000 after buying an additional 71 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Kaman Corporation by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the industrial products company’s stock valued at $529,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Kaman Corporation by 0.7% in the 1st quarter. Arizona State Retirement System now owns 14,127 shares of the industrial products company’s stock valued at $680,000 after buying an additional 100 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Kaman Corporation by 5.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,176 shares of the industrial products company’s stock valued at $105,000 after buying an additional 122 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of 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 buying an additional 145 shares in the last quarter. 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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