Karman Holdings Inc. $KRMN Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its position in Karman Holdings Inc. (NYSE:KRMN) by 270.1% in the third quarter, HoldingsChannel reports. The fund owned 40,711 shares of the company’s stock after acquiring an additional 29,711 shares during the quarter. New York State Common Retirement Fund’s holdings in Karman were worth $2,939,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC increased its stake in shares of Karman by 56.4% in the 3rd 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 grew its holdings in Karman by 9.4% in the third quarter. Amalgamated Bank now owns 2,183 shares of the company’s stock valued at $158,000 after purchasing an additional 188 shares during the period. Global Retirement Partners LLC increased its position in shares of Karman by 5,718.2% in the third 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 acquired a new position in shares of Karman during the 3rd quarter worth approximately $101,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of Karman during the 3rd quarter valued at approximately $116,000.

Insider Buying and Selling

In other Karman news, CFO Michael Willis sold 115,000 shares of Karman stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $58.63, for a total transaction of $6,742,450.00. Following the transaction, the chief financial officer directly owned 859,709 shares of the company’s stock, valued at $50,404,738.67. The trade was a 11.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Beaudoin sold 74,000 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $63.69, for a total transaction of $4,713,060.00. Following the completion of the transaction, the chief operating officer owned 666,861 shares in the company, valued at $42,472,377.09. The trade was a 9.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 251,000 shares of company stock worth $15,419,170.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on KRMN shares. Citigroup lifted their target price on shares of Karman from $123.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Piper Sandler assumed coverage on Karman in a report on Wednesday, January 21st. They issued a “neutral” rating and a $98.00 price objective on the stock. KeyCorp increased their target price on Karman from $80.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Evercore lifted their price target on Karman from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. Finally, BWS Financial reiterated a “sell” rating and set a $37.00 price target on shares of Karman in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.33.

Karman Stock Performance

Shares of Karman stock opened at $95.44 on Friday. The business’s 50 day moving average price is $87.55 and its 200 day moving average price is $72.46. The company has a market cap 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 quick ratio of 2.69 and a current ratio of 2.86. Karman Holdings Inc. has a one year low of $25.02 and a one year high of $118.38.

Karman (NYSE:KRMN) last issued its earnings results on Friday, November 7th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. Karman had a return on equity of 11.11% and a net margin of 2.65%.The business had revenue of $121.79 million during the quarter. During the same period last year, the business earned $0.04 earnings per share. The firm’s revenue was up 41.7% compared to the same quarter last year.

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.