Riverhead Capital Management LLC Has $186,000 Position in Kaman Corporation (KAMN)
Riverhead Capital Management LLC boosted its position in Kaman Corporation (NYSE:KAMN) by 69.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,730 shares of the industrial products company’s stock after purchasing an additional 1,530 shares during the quarter. Riverhead Capital Management LLC’s holdings in Kaman Corporation were worth $186,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in Kaman Corporation by 5.6% in the 2nd quarter. Wells Fargo & Company MN now owns 43,747 shares of the industrial products company’s stock valued at $2,180,000 after buying an additional 2,305 shares during the period. JPMorgan Chase & Co. grew its holdings in Kaman Corporation by 1,238.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 374,472 shares of the industrial products company’s stock valued at $18,675,000 after buying an additional 346,488 shares during the period. Eagle Asset Management Inc. grew 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 valued at $8,664,000 after buying an additional 51,345 shares during the period. Crawford Investment Counsel Inc. grew its holdings in Kaman Corporation by 9.8% in 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 period. Finally, Principal Financial Group Inc. grew its holdings in Kaman Corporation by 2.5% in 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 period. 93.71% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on KAMN shares. Zacks Investment Research upgraded Kaman Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. BidaskClub upgraded Kaman Corporation from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. Finally, Northcoast Research began coverage on Kaman Corporation in a report on Tuesday, July 25th. They set a “buy” rating and a $60.00 target price for the company. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $56.67.
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Kaman Corporation (NYSE KAMN) opened at 55.78 on Friday. The stock has a market cap of $1.56 billion, a PE ratio of 30.02 and a beta of 0.70. Kaman Corporation has a 12-month low of $40.85 and a 12-month high of $56.38. The firm has a 50-day moving average price of $49.59 and a 200-day moving average price of $49.16.
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 Zacks’ consensus estimate of $0.49 by ($0.01). The company had revenue of $449.00 million for the quarter, compared to analyst estimates of $469.24 million. Kaman Corporation had a net margin of 2.95% and a return on equity of 9.24%. The business’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 EPS. Analysts forecast that Kaman Corporation will post $2.48 EPS for the current fiscal year.
The business also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Monday, September 18th. Kaman Corporation’s dividend payout ratio is 43.24%.
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 stock was sold at an average price of $50.70, for a total value of $121,882.80. Following the sale, the director now owns 19,937 shares of the company’s stock, valued at approximately $1,010,805.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company 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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