BlackRock Inc. lessened its position in Kaman Corporation (NYSE:KAMN) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,461,123 shares of the industrial products company’s stock after selling 58,353 shares during the period. BlackRock Inc. owned approximately 12.41% of Kaman Corporation worth $172,605,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in KAMN. JPMorgan Chase & Co. increased its holdings in shares of Kaman Corporation by 1,238.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 374,472 shares of the industrial products company’s stock worth $18,675,000 after acquiring an additional 346,488 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Kaman Corporation by 53.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 636,282 shares of the industrial products company’s stock worth $31,732,000 after acquiring an additional 221,360 shares during the period. Vanguard Group Inc. increased its holdings in shares of Kaman Corporation by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 2,408,989 shares of the industrial products company’s stock worth $115,945,000 after acquiring an additional 117,719 shares during the period. Bank of America Corp DE increased its holdings in shares of Kaman Corporation by 17.6% in the 1st quarter. Bank of America Corp DE now owns 680,398 shares of the industrial products company’s stock worth $32,747,000 after acquiring an additional 101,686 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Kaman Corporation by 76.5% in the 1st quarter. Renaissance Technologies LLC now owns 209,922 shares of the industrial products company’s stock worth $10,104,000 after acquiring an additional 91,000 shares during the period. 93.71% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: This report was posted by Community Financial News and is the property of of Community Financial News. If you are reading this report on another publication, it was illegally stolen and republished in violation of US and international trademark & copyright law. The original version of this report can be accessed at https://www.com-unik.info/2017/10/12/blackrock-inc-has-172-61-million-position-in-kaman-corporation-kamn.html.
In related news, Director Richard J. Swift sold 2,404 shares of Kaman Corporation stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $50.70, for a total value of $121,882.80. Following the completion of the transaction, the director now directly owns 19,937 shares of the company’s stock, valued at $1,010,805.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.38% of the company’s stock.
Kaman Corporation (KAMN) opened at 55.45 on Thursday. The company has a 50-day moving average of $51.72 and a 200-day moving average of $49.84. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 29.84 and a beta of 0.70. Kaman Corporation has a 12 month low of $40.85 and a 12 month high of $56.50.
Kaman Corporation (NYSE:KAMN) last released its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.01). Kaman Corporation had a net margin of 2.95% and a return on equity of 9.24%. The business had revenue of $449.00 million during the quarter, compared to the consensus estimate of $469.24 million. During the same period in the prior year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. Analysts predict that Kaman Corporation will post $2.48 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Tuesday, September 19th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.44%. Kaman Corporation’s dividend payout ratio is 43.24%.
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.
What are top analysts saying about Kaman Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Kaman Corporation and related companies.