Kaman Corporation (KAMN) Position Trimmed by Swiss National Bank
Swiss National Bank reduced its position in Kaman Corporation (NYSE:KAMN) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,300 shares of the industrial products company’s stock after selling 2,100 shares during the period. Swiss National Bank owned about 0.14% of Kaman Corporation worth $1,910,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Eagle Asset Management Inc. raised its holdings in Kaman Corporation by 42.0% in the 2nd quarter. Eagle Asset Management Inc. now owns 173,733 shares of the industrial products company’s stock worth $8,664,000 after acquiring an additional 51,345 shares during the last quarter. Crawford Investment Counsel Inc. raised its stake in Kaman Corporation by 9.8% during the 2nd quarter. Crawford Investment Counsel Inc. now owns 40,060 shares of the industrial products company’s stock valued at $1,998,000 after buying an additional 3,560 shares during the last quarter. Principal Financial Group Inc. raised its stake in Kaman Corporation by 2.5% during the 2nd quarter. Principal Financial Group Inc. now owns 226,241 shares of the industrial products company’s stock valued at $11,283,000 after buying an additional 5,533 shares during the last quarter. Victory Capital Management Inc. raised its stake in Kaman Corporation by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 6,665 shares of the industrial products company’s stock valued at $332,000 after buying an additional 1,000 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in Kaman Corporation by 1.4% during the 2nd quarter. Gamco Investors INC. ET AL now owns 3,610,791 shares of the industrial products company’s stock valued at $180,070,000 after buying an additional 49,237 shares during the last quarter. Institutional investors own 93.71% of the company’s stock.
In other Kaman Corporation news, Director Richard J. Swift sold 2,404 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 19,937 shares of the company’s stock, valued at $1,010,805.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.38% of the company’s stock.
Shares of Kaman Corporation (KAMN) opened at 55.43 on Friday. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 29.83 and a beta of 0.70. Kaman Corporation has a 52 week low of $40.85 and a 52 week high of $56.50. The firm’s 50-day moving average is $51.11 and its 200-day moving average is $49.65.
Kaman Corporation (NYSE:KAMN) last 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 Zacks’ consensus estimate of $0.49 by ($0.01). The company had revenue of $449.00 million during the quarter, compared to analysts’ expectations of $469.24 million. Kaman Corporation had a return on equity of 9.24% and a net margin of 2.95%. The company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. Analysts forecast that Kaman Corporation will post $2.48 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Tuesday, September 19th were issued a $0.20 dividend. The ex-dividend date was Monday, September 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.44%. Kaman Corporation’s dividend payout ratio is currently 43.24%.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Kaman Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. BidaskClub upgraded shares of Kaman Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, 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 target price for the company. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Kaman Corporation presently has a consensus rating of “Hold” and an average target price of $56.67.
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Kaman Corporation 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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