Kaman Corporation (KAMN) Director Sells $121,882.80 in Stock
Kaman Corporation (NYSE:KAMN) Director Richard J. Swift sold 2,404 shares of the stock in a transaction that occurred 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 transaction, the director now owns 19,937 shares in the company, valued at approximately $1,010,805.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Kaman Corporation (NYSE KAMN) traded down 0.42% during mid-day trading on Friday, reaching $49.70. 86,961 shares of the company’s stock were exchanged. The company has a market capitalization of $1.39 billion, a PE ratio of 26.75 and a beta of 0.69. Kaman Corporation has a one year low of $40.85 and a one year high of $53.41. The company’s 50-day moving average price is $50.50 and its 200-day moving average price is $49.56.
Kaman Corporation (NYSE:KAMN) last released its earnings results on Monday, July 31st. The industrial products company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by $0.01. The company had revenue of $449 million during the quarter, compared to analyst estimates of $469.24 million. Kaman Corporation had a return on equity of 9.24% and a net margin of 2.95%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. On average, equities analysts expect that Kaman Corporation will post $2.48 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Tuesday, September 19th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, September 18th. Kaman Corporation’s payout ratio is 43.24%.
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Hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its stake in shares of Kaman Corporation by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 2,990 shares of the industrial products company’s stock valued at $143,000 after buying an additional 60 shares during the last quarter. Two Sigma Securities LLC boosted its stake in shares of Kaman Corporation by 1.7% in the first quarter. Two Sigma Securities LLC now owns 4,330 shares of the industrial products company’s stock valued at $208,000 after buying an additional 71 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Kaman Corporation by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the industrial products company’s stock valued at $529,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Kaman Corporation by 0.7% in the first quarter. Arizona State Retirement System now owns 14,127 shares of the industrial products company’s stock valued at $680,000 after buying an additional 100 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Kaman Corporation by 5.9% in the first quarter. Envestnet Asset Management Inc. now owns 2,176 shares of the industrial products company’s stock valued at $105,000 after buying an additional 122 shares during the last quarter. Institutional investors and hedge funds own 99.14% of the company’s stock.
A number of brokerages recently weighed in on KAMN. Zacks Investment Research downgraded shares of Kaman Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. 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 began coverage on shares of Kaman Corporation in a report on Tuesday, July 25th. They set a “buy” rating and a $60.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $54.75.
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.
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