Kaman Corporation (KAMN) Position Raised by Russell Investments Group Ltd.
Russell Investments Group Ltd. raised its position in shares of Kaman Corporation (NYSE:KAMN) by 4.6% during the second quarter, Holdings Channel reports. The institutional investor owned 185,049 shares of the industrial products company’s stock after buying an additional 8,065 shares during the period. Russell Investments Group Ltd.’s holdings in Kaman Corporation were worth $9,228,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. 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 worth $2,788,000 after buying an additional 15,322 shares in the last quarter. Americafirst Capital Management LLC acquired a new position in shares of Kaman Corporation during the first quarter worth about $196,000. 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 worth $529,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Kaman Corporation by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 2,990 shares of the industrial products company’s stock worth $143,000 after buying an additional 60 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Kaman Corporation during the first quarter worth about $619,000. 96.42% of the stock is currently owned by institutional investors.
Shares of Kaman Corporation (NYSE:KAMN) traded up 0.2772% during mid-day trading on Wednesday, reaching $49.7375. The company had a trading volume of 30,992 shares. The company has a market capitalization of $1.39 billion, a P/E ratio of 26.7694 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 firm has a 50-day moving average of $50.49 and a 200-day moving average of $49.53.
Kaman Corporation (NYSE:KAMN) last issued its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.48 EPS for the quarter, missing the Thomson Reuters’ 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 million during the quarter, compared to analysts’ expectations of $469.24 million. During the same quarter last year, the business earned $0.64 earnings per share. The business’s quarterly revenue was down 4.6% on a year-over-year basis. On average, equities analysts anticipate that Kaman Corporation will post $2.48 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Tuesday, September 19th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Monday, September 18th. Kaman Corporation’s dividend payout ratio is 43.24%.
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A number of analysts recently commented on KAMN shares. Zacks Investment Research raised Kaman Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. BidaskClub raised Kaman Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Finally, Northcoast Research started coverage on Kaman Corporation in a research report on Tuesday, July 25th. They issued a “buy” rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Kaman Corporation has an average rating of “Hold” and a consensus target price of $54.75.
In other Kaman Corporation news, Director Richard J. Swift sold 2,404 shares of the firm’s stock in a transaction that occurred on 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 owns 19,937 shares of the company’s stock, valued at $1,010,805.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.38% of the stock is currently owned by company insiders.
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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