Dimensional Fund Advisors LP increased its holdings in Kaman Co. (NYSE:KAMN) by 0.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,403,863 shares of the industrial products company’s stock after purchasing an additional 2,869 shares during the period. Dimensional Fund Advisors LP owned approximately 5.05% of Kaman worth $78,307,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Palisade Capital Management LLC NJ bought a new stake in Kaman during the third quarter worth about $349,000. Eagle Asset Management Inc. grew its stake in Kaman by 42.0% during the second quarter. Eagle Asset Management Inc. now owns 173,733 shares of the industrial products company’s stock worth $8,664,000 after buying an additional 51,345 shares during the last quarter. Crawford Investment Counsel Inc. grew its stake in Kaman by 9.8% during the second quarter. Crawford Investment Counsel Inc. now owns 40,060 shares of the industrial products company’s stock worth $1,998,000 after buying an additional 3,560 shares during the last quarter. Vanguard Group Inc. grew its stake in Kaman by 0.8% during the second quarter. Vanguard Group Inc. now owns 2,427,442 shares of the industrial products company’s stock worth $121,056,000 after buying an additional 18,453 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in Kaman by 4.8% during the second quarter. California Public Employees Retirement System now owns 50,300 shares of the industrial products company’s stock worth $2,508,000 after buying an additional 2,300 shares during the last quarter. 92.57% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Richard J. Swift sold 1,235 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $56.00, for a total transaction of $69,160.00. Following the sale, the director now directly owns 18,702 shares of the company’s stock, valued at $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 stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $56.41, for a total transaction of $152,137.77. The disclosure for this sale can be found here. 2.38% of the stock is owned by corporate insiders.
Kaman (NYSE:KAMN) last released its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.07. Kaman had a net margin of 2.90% and a return on equity of 9.30%. The business had revenue of $447.00 million for the quarter, compared to analysts’ expectations of $461.06 million. During the same period in the prior year, the firm earned $0.64 earnings per share. Kaman’s revenue was down 1.4% compared to the same quarter last year. sell-side analysts predict that Kaman Co. will post 2.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Tuesday, December 19th will be paid 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 1.38%. Kaman’s dividend payout ratio (DPR) is currently 44.20%.
Several analysts have weighed in on the stock. BidaskClub raised shares of Kaman from a “hold” rating to a “buy” rating in a research note on Wednesday, October 4th. Zacks Investment Research raised shares of Kaman from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $57.50.
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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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