Kaman Corporation (KAMN) Stake Decreased by Bessemer Group Inc.
Bessemer Group Inc. decreased its stake in Kaman Corporation (NYSE:KAMN) by 27.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,630 shares of the industrial products company’s stock after selling 7,366 shares during the period. Bessemer Group Inc.’s holdings in Kaman Corporation were worth $978,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Great West Life Assurance Co. Can raised its stake in Kaman Corporation by 2.8% in the second quarter. Great West Life Assurance Co. Can now owns 39,812 shares of the industrial products company’s stock valued at $1,985,000 after buying an additional 1,100 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Kaman Corporation by 85.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 11,400 shares of the industrial products company’s stock worth $568,000 after buying an additional 5,260 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Kaman Corporation by 4.6% in the second quarter. Russell Investments Group Ltd. now owns 185,049 shares of the industrial products company’s stock worth $9,228,000 after buying an additional 8,065 shares in the last quarter. First Midwest Bank Trust Division raised its stake in shares of Kaman Corporation by 3.0% in the second quarter. First Midwest Bank Trust Division now owns 11,138 shares of the industrial products company’s stock worth $555,000 after buying an additional 323 shares in the last quarter. Finally, Huntington National Bank raised its stake in shares of Kaman Corporation by 25.0% in the second quarter. Huntington National Bank now owns 2,500 shares of the industrial products company’s stock worth $125,000 after buying an additional 500 shares in the last quarter. 96.42% of the stock is owned by institutional investors.
Shares of Kaman Corporation (NYSE KAMN) opened at 49.60 on Wednesday. The company has a 50 day moving average of $50.49 and a 200-day moving average of $49.53. Kaman Corporation has a one year low of $40.85 and a one year high of $53.41. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 26.70 and a beta of 0.69.
Kaman Corporation (NYSE:KAMN) last posted its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.48 earnings per share 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 firm had revenue of $449 million for the quarter, compared to analyst estimates of $469.24 million. During the same quarter last year, the company earned $0.64 earnings per share. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, analysts expect that Kaman Corporation will post $2.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Tuesday, September 19th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Monday, September 18th. Kaman Corporation’s dividend payout ratio (DPR) is presently 43.24%.
A number of analysts recently weighed in on KAMN shares. Zacks Investment Research raised shares of Kaman Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 3rd. BidaskClub raised shares of Kaman Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Finally, Northcoast Research started coverage on shares of Kaman Corporation in a report on Tuesday, July 25th. They issued a “buy” rating and a $60.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $54.75.
In other news, Director Richard J. Swift sold 2,404 shares of the stock in a transaction 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 sale, the director now directly owns 19,937 shares in the company, valued at $1,010,805.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.38% of the company’s stock.
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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