Arizona State Retirement System Purchases 7,944 Shares of Karman Holdings Inc. $KRMN

Arizona State Retirement System grew its holdings in Karman Holdings Inc. (NYSE:KRMN) by 103.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 15,645 shares of the company’s stock after acquiring an additional 7,944 shares during the period. Arizona State Retirement System’s holdings in Karman were worth $1,130,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in KRMN. Farther Finance Advisors LLC grew its position in shares of Karman by 56.4% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $33,000 after purchasing an additional 164 shares in the last quarter. Amalgamated Bank boosted its stake in Karman by 9.4% during the third quarter. Amalgamated Bank now owns 2,183 shares of the company’s stock valued at $158,000 after buying an additional 188 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Karman by 5,718.2% during the 3rd quarter. Global Retirement Partners LLC now owns 640 shares of the company’s stock valued at $46,000 after buying an additional 629 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Karman in the 3rd quarter worth approximately $101,000. Finally, ORG Wealth Partners LLC purchased a new stake in Karman during the third quarter valued at $116,000.

Insider Buying and Selling at Karman

In other Karman news, insider Stephanie Sawhill sold 62,000 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $63.93, for a total value of $3,963,660.00. Following the completion of the sale, the insider directly owned 504,939 shares in the company, valued at approximately $32,280,750.27. This represents a 10.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jonathan Beaudoin sold 74,000 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $63.69, for a total value of $4,713,060.00. Following the transaction, the chief operating officer directly owned 666,861 shares in the company, valued at $42,472,377.09. The trade was a 9.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 251,000 shares of company stock valued at $15,419,170 in the last ninety days.

Wall Street Analysts Forecast Growth

KRMN has been the topic of a number of recent research reports. Truist Financial set a $118.00 price objective on Karman in a research report on Friday, January 9th. Citigroup increased their price target on Karman from $123.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. BWS Financial restated a “sell” rating and issued a $37.00 price target on shares of Karman in a research report on Thursday, January 22nd. Piper Sandler started coverage on shares of Karman in a research report on Wednesday, January 21st. They set a “neutral” rating and a $98.00 price objective on the stock. Finally, KeyCorp increased their target price on shares of Karman from $80.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.33.

Karman Trading Up 6.3%

Shares of KRMN opened at $95.44 on Friday. The firm has a market capitalization of $12.63 billion and a price-to-earnings ratio of 381.76. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.86 and a quick ratio of 2.69. Karman Holdings Inc. has a 1-year low of $25.02 and a 1-year high of $118.38. The company has a 50-day moving average of $87.55 and a 200 day moving average of $72.46.

Karman (NYSE:KRMN) last announced its quarterly earnings results on Friday, November 7th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $121.79 million during the quarter. Karman had a return on equity of 11.11% and a net margin of 2.65%.The firm’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 EPS.

Karman Profile

We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.