Kaman Corporation (NYSE:KAMN) to Issue $0.20 Quarterly Dividend
Kaman Corporation (NYSE:KAMN) declared a quarterly dividend on Tuesday, August 8th, RTT News reports. Shareholders of record on Tuesday, September 19th will be paid a dividend of 0.20 per share by the industrial products company on Thursday, October 5th. This represents a $0.80 annualized dividend and a yield of 1.57%.
Kaman Corporation has raised its dividend by an average of 4.0% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Kaman Corporation has a payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kaman Corporation to earn $2.86 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 28.0%.
Shares of Kaman Corporation (KAMN) traded up 0.26% on Tuesday, reaching $50.98. The company’s stock had a trading volume of 105,409 shares. The company’s 50 day moving average price is $50.49 and its 200 day moving average price is $49.54. Kaman Corporation has a 12-month low of $40.85 and a 12-month high of $53.41. The company has a market cap of $1.42 billion, a P/E ratio of 27.44 and a beta of 0.69.
Kaman Corporation (NYSE:KAMN) last announced its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by $0.01. Kaman Corporation had a net margin of 2.95% and a return on equity of 9.24%. The business had revenue of $449 million for the quarter, compared to analysts’ expectations of $469.24 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. Analysts forecast that Kaman Corporation will post $2.48 EPS for the current fiscal year.
A number of research analysts have weighed in on the company. BidaskClub downgraded Kaman Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday. Zacks Investment Research downgraded Kaman Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, Northcoast Research assumed coverage on Kaman Corporation in a report on Tuesday, July 25th. They set a “buy” rating and a $60.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $54.75.
TRADEMARK VIOLATION NOTICE: This piece of content was posted by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/08/08/kaman-corporation-nysekamn-to-issue-0-20-quarterly-dividend.html.
Kaman Corporation Company 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.
Receive News & Ratings for Kaman Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kaman Corporation and related companies with MarketBeat.com's FREE daily email newsletter.