First Trust Advisors LP lowered its position in Kaman Co. (NYSE:KAMN) by 5.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,500 shares of the industrial products company’s stock after selling 1,181 shares during the quarter. First Trust Advisors LP owned approximately 0.08% of Kaman worth $1,255,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its stake in shares of Kaman by 5.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,652 shares of the industrial products company’s stock worth $132,000 after acquiring an additional 145 shares in the last quarter. Dean Capital Management bought a new stake in shares of Kaman during the 2nd quarter worth about $3,600,000. Westwood Holdings Group Inc. boosted its stake in shares of Kaman by 35.4% during the 2nd quarter. Westwood Holdings Group Inc. now owns 377,545 shares of the industrial products company’s stock worth $18,828,000 after acquiring an additional 98,800 shares in the last quarter. State Street Corp boosted its stake in shares of Kaman by 3.7% during 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. Finally, Flinton Capital Management LLC boosted its stake in shares of Kaman by 67.7% during 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. Hedge funds and other institutional investors own 92.58% of the company’s stock.
In related news, Director Richard J. Swift sold 1,235 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $56.00, for a total transaction of $69,160.00. Following the completion of the transaction, the director now owns 18,702 shares of the company’s stock, valued at approximately $1,047,312. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director E Reeves Callaway III sold 2,697 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $56.41, for a total value of $152,137.77. The disclosure for this sale can be found here. 2.38% of the stock is currently owned by insiders.
Kaman (NYSE:KAMN) last released its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. Kaman had a return on equity of 9.30% and a net margin of 2.90%. The company had revenue of $447.00 million during the quarter, compared to the consensus estimate of $461.06 million. During the same quarter in the prior year, the company posted $0.64 EPS. The firm’s revenue was down 1.4% on a year-over-year basis. research analysts expect that Kaman Co. will post 2.34 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Tuesday, December 19th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 18th. This represents a $0.80 annualized dividend and a dividend yield of 1.36%. Kaman’s dividend payout ratio is presently 44.20%.
KAMN has been the subject of several recent analyst reports. BidaskClub downgraded Kaman from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Zacks Investment Research upgraded Kaman from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $56.67.
Kaman 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.
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