Kaman Corporation (NYSE:KAMN) Upgraded to “Hold” by Zacks Investment Research
Kaman Corporation (NYSE:KAMN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Kaman Corporation is in the following business segments: Aerospace, Industrial Distribution, and Music Distribution. The Aerospace segment serves commercial, U.S. defense and foreign government markets. The Industrial Distribution segment serves nearly every sector of U.S. industry with industrial replacement parts as well as support services. The Music Distribution segment serves domestic and foreign markets with a wide variety of music instruments and accessories and manufactures guitars and other music products for professional and amateur musicians. “
KAMN has been the topic of several other research reports. KeyCorp reiterated an “equal weight” rating on shares of Kaman Corporation in a research note on Thursday, March 23rd. BidaskClub cut shares of Kaman Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Kaman Corporation has a consensus rating of “Hold” and a consensus target price of $53.00.
Kaman Corporation (KAMN) traded up 0.50% during mid-day trading on Thursday, hitting $50.65. 70,604 shares of the stock traded hands. Kaman Corporation has a 1-year low of $40.85 and a 1-year high of $53.41. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 25.71 and a beta of 0.69. The company’s 50 day moving average price is $49.37 and its 200-day moving average price is $49.39.
Kaman Corporation (NYSE:KAMN) last announced its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $435.94 million for the quarter, compared to analysts’ expectations of $427.90 million. Kaman Corporation had a net margin of 3.09% and a return on equity of 10.18%. Analysts predict that Kaman Corporation will post $2.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Shareholders of record on Tuesday, June 20th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Friday, June 16th. Kaman Corporation’s payout ratio is 40.82%.
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Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Kaman Corporation by 162,013.1% in the first quarter. BlackRock Inc. now owns 3,519,476 shares of the industrial products company’s stock worth $169,392,000 after buying an additional 3,517,305 shares during the last quarter. Vanguard Group Inc. boosted its stake in Kaman Corporation by 5.1% in the first quarter. Vanguard Group Inc. now owns 2,408,989 shares of the industrial products company’s stock worth $115,945,000 after buying an additional 117,719 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Kaman Corporation by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,399,372 shares of the industrial products company’s stock worth $67,352,000 after buying an additional 36,474 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Kaman Corporation by 5.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,192,036 shares of the industrial products company’s stock worth $57,372,000 after buying an additional 60,319 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Kaman Corporation by 17.6% in the first quarter. Bank of America Corp DE now owns 680,398 shares of the industrial products company’s stock worth $32,747,000 after buying an additional 101,686 shares during the last quarter. Institutional investors own 99.40% 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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