Kaman Corporation (NYSE:KAMN) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Kaman Corporation (NYSE:KAMN) released its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by $0.01, Bloomberg Earnings reports. The firm had revenue of $449 million during the quarter, compared to the consensus estimate of $469.24 million. Kaman Corporation had a return on equity of 9.24% and a net margin of 2.95%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS.

Shares of Kaman Corporation (NYSE:KAMN) opened at 48.77 on Friday. The firm’s 50-day moving average is $50.48 and its 200 day moving average is $49.51. Kaman Corporation has a 52-week low of $40.85 and a 52-week high of $53.41. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 26.25 and a beta of 0.69.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Tuesday, September 19th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend 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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KAMN has been the topic of several research analyst reports. Zacks Investment Research raised shares of Kaman Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 3rd. BidaskClub raised shares of Kaman Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Finally, Northcoast Research initiated coverage on shares of Kaman Corporation in a report on Tuesday, July 25th. They issued a “buy” rating and a $60.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Kaman Corporation has an average rating of “Hold” and an average price target of $54.75.

In other news, Director Richard J. Swift sold 2,404 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $50.70, for a total value of $121,882.80. Following the sale, the director now directly owns 19,937 shares in the company, valued at approximately $1,010,805.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.38% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue increased its position in shares of Kaman Corporation by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 2,990 shares of the industrial products company’s stock valued at $143,000 after buying an additional 60 shares during the last quarter. Two Sigma Securities LLC boosted its stake in Kaman Corporation by 1.7% in the first quarter. Two Sigma Securities LLC now owns 4,330 shares of the industrial products company’s stock valued at $208,000 after buying an additional 71 shares during the period. 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 valued at $529,000 after buying an additional 100 shares during the period. Arizona State Retirement System boosted its stake in Kaman Corporation by 0.7% in the first quarter. Arizona State Retirement System now owns 14,127 shares of the industrial products company’s stock valued at $680,000 after buying an additional 100 shares during the period. Finally, Envestnet Asset Management Inc. boosted 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 valued at $105,000 after buying an additional 122 shares during the period. Institutional investors own 96.42% of the company’s stock.

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.

Earnings History for Kaman Corporation (NYSE:KAMN)

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