Kaman Corporation (NYSE:KAMN) posted its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by $0.01, Bloomberg Earnings reports. Kaman Corporation had a net margin of 2.95% and a return on equity of 9.24%. The business had revenue of $449 million for the quarter, compared to analysts’ expectations of $469.24 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business’s quarterly revenue was down 4.6% on a year-over-year basis.
Shares of Kaman Corporation (NYSE KAMN) opened at 48.77 on Friday. Kaman Corporation has a 12-month low of $40.85 and a 12-month high of $53.41. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 26.25 and a beta of 0.69. The stock’s 50 day moving average is $50.48 and its 200-day moving average is $49.51.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Tuesday, September 19th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.64%. Kaman Corporation’s dividend payout ratio is currently 43.24%.
Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Kaman Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub lowered shares of Kaman Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Finally, Northcoast Research assumed coverage on shares of Kaman Corporation in a research report on Tuesday, July 25th. They set a “buy” rating and a $60.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $54.75.
In related news, Director Richard J. Swift sold 2,404 shares of Kaman Corporation 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 completion of the transaction, the director now directly owns 19,937 shares of the company’s stock, valued at approximately $1,010,805.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.38% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in KAMN. Envestnet Asset Management Inc. boosted its position in Kaman Corporation by 7.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,054 shares of the industrial products company’s stock worth $100,000 after buying an additional 151 shares in the last quarter. SG Americas Securities LLC bought a new stake in Kaman Corporation during the second quarter valued at about $104,000. Flinton Capital Management LLC bought a new stake in Kaman Corporation during the first quarter valued at about $106,000. Ameritas Investment Partners Inc. bought a new stake in Kaman Corporation during the first quarter valued at about $112,000. Finally, Huntington National Bank boosted its stake in Kaman Corporation by 25.0% in the second quarter. Huntington National Bank now owns 2,500 shares of the industrial products company’s stock valued at $125,000 after buying an additional 500 shares during the period. 96.42% of the stock is owned by hedge funds and other institutional investors.
About Kaman Corporation
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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