Bank of New York Mellon Corp Decreases Position in Karman Holdings Inc. $KRMN

Bank of New York Mellon Corp trimmed its holdings in Karman Holdings Inc. (NYSE:KRMN) by 20.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,188,884 shares of the company’s stock after selling 306,735 shares during the quarter. Bank of New York Mellon Corp’s holdings in Karman were worth $95,170,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in KRMN. Vanguard Group Inc. raised its holdings in Karman by 151.1% during the fourth quarter. Vanguard Group Inc. now owns 9,342,230 shares of the company’s stock worth $683,571,000 after purchasing an additional 5,621,556 shares in the last quarter. Falcon Wealth Planning purchased a new stake in shares of Karman during the 1st quarter worth approximately $205,684,000. Schusterman Interests LLC acquired a new position in shares of Karman in the 3rd quarter valued at $148,024,000. Trustees of the University of Pennsylvania acquired a new position in shares of Karman in the 4th quarter valued at $142,869,000. Finally, Van ECK Associates Corp grew its position in shares of Karman by 125.3% in the 4th quarter. Van ECK Associates Corp now owns 2,867,379 shares of the company’s stock valued at $209,806,000 after buying an additional 1,594,518 shares during the last quarter.

Karman Stock Performance

Shares of KRMN opened at $44.96 on Tuesday. The company’s 50 day simple moving average is $53.65 and its 200-day simple moving average is $77.40. The firm has a market cap of $5.96 billion, a PE ratio of 195.49 and a beta of 0.51. Karman Holdings Inc. has a 12-month low of $44.00 and a 12-month high of $118.38. The company has a current ratio of 3.53, a quick ratio of 3.38 and a debt-to-equity ratio of 2.08.

Karman (NYSE:KRMN) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. The firm had revenue of $151.21 million during the quarter, compared to the consensus estimate of $150.19 million. Karman had a net margin of 5.73% and a return on equity of 14.94%. Karman’s revenue for the quarter was up 51.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS. As a group, equities analysts predict that Karman Holdings Inc. will post 0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $125.00 price target on shares of Karman in a research note on Thursday, April 9th. Weiss Ratings lowered Karman from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, June 29th. KeyCorp dropped their price objective on Karman from $122.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, May 20th. Evercore set a $100.00 target price on Karman in a research report on Wednesday, May 13th. Finally, Piper Sandler reduced their target price on Karman from $127.00 to $114.00 and set an “overweight” rating for the company in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.50.

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.