Kaman Corporation (KAMN) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Kaman Corporation (NYSE:KAMN) have been assigned an average rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $57.50.
A number of research firms recently issued reports on KAMN. Zacks Investment Research upgraded shares of Kaman Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub cut shares of Kaman Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Finally, Northcoast Research began coverage on shares of Kaman Corporation in a research report on Tuesday, July 25th. They set a “buy” rating and a $60.00 price objective for the company.
Shares of Kaman Corporation (KAMN) opened at 48.23 on Friday. Kaman Corporation has a one year low of $40.85 and a one year high of $53.41. The company has a market cap of $1.35 billion, a PE ratio of 25.96 and a beta of 0.69. The company’s 50-day moving average price is $50.20 and its 200 day moving average price is $49.42.
Kaman Corporation (NYSE:KAMN) last released its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.01. The company had revenue of $449 million for 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%. Kaman Corporation’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities analysts forecast that Kaman Corporation will post $2.48 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders 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 yield of 1.66%. The ex-dividend date of this dividend is Monday, September 18th. Kaman Corporation’s payout ratio is 43.24%.
In other Kaman Corporation news, Director Richard J. Swift sold 2,404 shares of the business’s 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 sale, the director now directly 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 available at this hyperlink. Insiders own 2.38% of the company’s stock.
A number of large investors have recently bought and sold shares of KAMN. SG Americas Securities LLC acquired a new stake in Kaman Corporation during the second quarter worth $104,000. Envestnet Asset Management Inc. raised its stake in 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 worth $105,000 after buying an additional 122 shares during the last quarter. Flinton Capital Management LLC acquired a new stake in Kaman Corporation during the first quarter worth $106,000. Ameritas Investment Partners Inc. acquired a new stake in Kaman Corporation during the first quarter worth $112,000. Finally, Huntington National Bank raised its stake in Kaman Corporation by 25.0% in the second quarter. Huntington National Bank now owns 2,500 shares of the industrial products company’s stock worth $125,000 after buying an additional 500 shares during the last quarter. 96.42% of the stock is currently owned by hedge funds and other institutional investors.
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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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