Victory Capital Management Inc. Sells 1,219 Shares of Kaman Corporation (KAMN)
Victory Capital Management Inc. lowered its holdings in shares of Kaman Corporation (NYSE:KAMN) by 18.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,446 shares of the industrial products company’s stock after selling 1,219 shares during the period. Victory Capital Management Inc.’s holdings in Kaman were worth $304,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Gamco Investors INC. ET AL boosted its position in Kaman 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 period. Vanguard Group Inc. boosted its position in Kaman by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,427,442 shares of the industrial products company’s stock valued at $121,056,000 after buying an additional 18,453 shares during the period. State Street Corp boosted its position in Kaman by 3.7% during the 2nd quarter. State Street Corp now owns 678,248 shares of the industrial products company’s stock valued at $33,830,000 after buying an additional 24,326 shares during the period. Bank of New York Mellon Corp boosted its position in Kaman by 53.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 636,282 shares of the industrial products company’s stock valued at $31,732,000 after buying an additional 221,360 shares during the period. Finally, Northern Trust Corp boosted its position in Kaman by 1.8% during the 2nd quarter. Northern Trust Corp now owns 529,041 shares of the industrial products company’s stock valued at $26,383,000 after buying an additional 9,545 shares during the period. 94.87% of the stock is currently owned by institutional investors.
In other news, Director Richard J. Swift sold 1,235 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $56.00, for a total value of $69,160.00. Following the completion of the sale, the director now directly owns 18,702 shares of the company’s stock, valued at approximately $1,047,312. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director E Reeves Callaway III sold 2,697 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $56.41, for a total transaction of $152,137.77. The disclosure for this sale can be found here. Company insiders own 2.38% of the company’s stock.
Several brokerages have weighed in on KAMN. Zacks Investment Research raised shares of Kaman from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub raised shares of Kaman from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.67.
Shares of Kaman Corporation (NYSE:KAMN) opened at $57.94 on Friday. Kaman Corporation has a 12-month low of $45.50 and a 12-month high of $58.40. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.85 and a quick ratio of 1.35. The company has a market cap of $1,611.60, a PE ratio of 29.71 and a beta of 0.73.
Kaman (NYSE:KAMN) last posted its earnings results on Thursday, October 26th. The industrial products company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.07. Kaman had a net margin of 2.90% and a return on equity of 9.30%. The firm had revenue of $447.00 million during the quarter, compared to analysts’ expectations of $461.06 million. During the same period last year, the company posted $0.64 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. research analysts predict that Kaman Corporation will post 2.34 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Tuesday, December 19th will be given a $0.20 dividend. The ex-dividend date is Monday, December 18th. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. Kaman’s dividend payout ratio is 44.20%.
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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