Metropolitan Life Insurance Co. NY reduced its position in shares of Kaman Corporation (NYSE:KAMN) by 3.0% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 18,486 shares of the industrial products company’s stock after selling 564 shares during the period. Metropolitan Life Insurance Co. NY owned 0.07% of Kaman Corporation worth $890,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its stake in Kaman Corporation by 7.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,054 shares of the industrial products company’s stock worth $100,000 after buying an additional 151 shares during the last quarter. Norges Bank acquired a new stake in Kaman Corporation during the fourth quarter worth about $17,590,000. Teachers Advisors LLC boosted its stake in Kaman Corporation by 36.8% in the fourth quarter. Teachers Advisors LLC now owns 56,974 shares of the industrial products company’s stock worth $2,788,000 after buying an additional 15,322 shares during the last quarter. Americafirst Capital Management LLC acquired a new stake in Kaman Corporation during the first quarter worth about $196,000. Finally, Louisiana State Employees Retirement System boosted its stake in 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 worth $529,000 after buying an additional 100 shares during the last quarter. 96.42% of the stock is owned by institutional investors.
Kaman Corporation (KAMN) opened at 48.77 on Friday. Kaman Corporation has a 52 week low of $40.85 and a 52 week high of $53.41. The stock’s 50 day moving average price is $50.48 and its 200-day moving average price is $49.51. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 26.25 and a beta of 0.69.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Tuesday, September 19th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 18th. This represents a $0.80 annualized dividend and a yield of 1.64%. Kaman Corporation’s payout ratio is 43.24%.
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A number of analysts have recently issued reports on KAMN shares. Zacks Investment Research raised Kaman Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. BidaskClub upgraded Kaman Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, Northcoast Research initiated coverage on Kaman Corporation in a research note on Tuesday, July 25th. They set a “buy” rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $54.75.
In related news, Director Richard J. Swift sold 2,404 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $50.70, for a total value of $121,882.80. Following the transaction, the director now owns 19,937 shares in the company, valued at $1,010,805.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.38% of the stock is currently owned by corporate insiders.
About Kaman Corporation
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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