UBS Group AG decreased its stake in shares of Kaman Corporation (NYSE:KAMN) by 43.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,470 shares of the industrial products company’s stock after selling 5,705 shares during the period. UBS Group AG’s holdings in Kaman Corporation were worth $360,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of KAMN. Envestnet Asset Management Inc. increased its position in shares of 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 valued at $100,000 after buying an additional 151 shares during the period. Norges Bank purchased a new position in shares of Kaman Corporation during the fourth quarter valued at approximately $17,590,000. Teachers Advisors LLC increased its position in shares of Kaman Corporation by 36.8% in the fourth quarter. Teachers Advisors LLC now owns 56,974 shares of the industrial products company’s stock valued at $2,788,000 after buying an additional 15,322 shares during the period. Americafirst Capital Management LLC purchased a new position in shares of Kaman Corporation during the first quarter valued at approximately $196,000. Finally, Louisiana State Employees Retirement System increased its position in shares of Kaman Corporation by 0.9% in the first 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 during the period. 96.42% of the stock is owned by hedge funds and other institutional investors.
Kaman Corporation (NYSE KAMN) opened at 48.77 on Friday. The stock has a market cap of $1.36 billion, a PE ratio of 26.25 and a beta of 0.69. Kaman Corporation has a 12 month low of $40.85 and a 12 month high of $53.41. The company’s 50 day moving average is $50.48 and its 200 day moving average is $49.51.
Kaman Corporation (NYSE:KAMN) last announced its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.01. Kaman Corporation had a net margin of 2.95% and a return on equity of 9.24%. The company had revenue of $449 million for the quarter, compared to the consensus estimate of $469.24 million. During the same quarter in the previous year, the business earned $0.64 EPS. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, analysts anticipate that Kaman Corporation will post $2.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Tuesday, September 19th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 18th. This represents a $0.80 annualized dividend and a dividend yield of 1.64%. Kaman Corporation’s dividend payout ratio is currently 43.24%.
Several equities analysts have recently commented on KAMN shares. Zacks Investment Research raised shares of Kaman Corporation from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. BidaskClub raised shares of Kaman Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, Northcoast Research initiated 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 on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $54.75.
In other news, Director Richard J. Swift sold 2,404 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $50.70, for a total value of $121,882.80. Following the completion of the sale, the director now owns 19,937 shares in the company, valued at approximately $1,010,805.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.38% 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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