Cubist Systematic Strategies LLC trimmed its position in Kaman Corporation (NYSE:KAMN) by 17.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,590 shares of the industrial products company’s stock after selling 1,210 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Kaman Corporation were worth $279,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in Kaman Corporation by 3.7% in the 2nd quarter. State Street Corp now owns 678,248 shares of the industrial products company’s stock worth $33,830,000 after acquiring an additional 24,326 shares in the last quarter. Flinton Capital Management LLC increased its holdings in Kaman Corporation by 67.7% in the 2nd quarter. Flinton Capital Management LLC now owns 3,706 shares of the industrial products company’s stock worth $185,000 after acquiring an additional 1,496 shares in the last quarter. Miles Capital Inc. purchased a new stake in Kaman Corporation in the 2nd quarter worth approximately $215,000. HighTower Advisors LLC purchased a new stake in Kaman Corporation in the 2nd quarter worth approximately $345,000. Finally, Voya Investment Management LLC increased its holdings in Kaman Corporation by 9.1% in the 2nd quarter. Voya Investment Management LLC now owns 13,805 shares of the industrial products company’s stock worth $688,000 after acquiring an additional 1,150 shares in the last quarter. 93.99% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Kaman Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. BidaskClub raised shares of Kaman Corporation from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. Finally, Northcoast Research assumed coverage on shares of Kaman Corporation in a report on Tuesday, July 25th. They issued a “buy” rating and a $60.00 target price for the company. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Kaman Corporation has an average rating of “Hold” and an average price target of $56.67.
Shares of Kaman Corporation (NYSE KAMN) opened at 56.47 on Monday. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 30.39 and a beta of 0.70. Kaman Corporation has a 12-month low of $40.85 and a 12-month high of $56.81. The company has a 50-day moving average of $53.96 and a 200 day moving average of $50.51.
Kaman Corporation (NYSE:KAMN) last posted its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.07. The business had revenue of $447.00 million during the quarter, compared to analysts’ expectations of $461.06 million. Kaman Corporation had a return on equity of 9.30% and a net margin of 2.90%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. Analysts predict that Kaman Corporation will post $2.48 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Tuesday, September 19th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Monday, September 18th. Kaman Corporation’s dividend payout ratio (DPR) is presently 44.20%.
In other news, Director Richard J. Swift sold 2,404 shares of the business’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 completion of the sale, the director now directly owns 19,937 shares in the company, valued at $1,010,805.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.38% of the stock is owned by 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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