California State Teachers Retirement System trimmed its stake in shares of Kaman Co. (NYSE:KAMN) by 7.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 44,144 shares of the industrial products company’s stock after selling 3,538 shares during the period. California State Teachers Retirement System’s holdings in Kaman were worth $2,462,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KAMN. JPMorgan Chase & Co. boosted its position in shares of Kaman by 1,238.2% during 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 in the last quarter. Bessemer Group Inc. boosted its position in shares of Kaman by 934.4% during the 3rd quarter. Bessemer Group Inc. now owns 203,059 shares of the industrial products company’s stock worth $11,327,000 after acquiring an additional 183,429 shares in the last quarter. Westwood Holdings Group Inc. boosted its position 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. Dean Capital Management acquired a new position in shares of Kaman during the 2nd quarter worth about $3,600,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Kaman by 7.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 686,500 shares of the industrial products company’s stock worth $38,293,000 after acquiring an additional 50,218 shares in the last quarter. 92.57% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on KAMN. Zacks Investment Research raised Kaman from a “sell” rating to a “hold” rating in a research report on Saturday, December 30th. BidaskClub raised Kaman from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $60.00.
Kaman (NYSE:KAMN) last announced its earnings results on Thursday, October 26th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $447.00 million during the quarter, compared to analysts’ expectations of $461.06 million. Kaman had a return on equity of 9.30% and a net margin of 2.90%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. equities research analysts predict that Kaman Co. will post 2.34 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Investors of record on Tuesday, December 19th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.32%. Kaman’s dividend payout ratio (DPR) is presently 44.20%.
In related news, Director Richard J. Swift sold 1,235 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $56.00, for a total value of $69,160.00. Following the completion of the sale, the director now directly owns 18,702 shares of the company’s stock, valued at approximately $1,047,312. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director E Reeves Callaway III sold 2,697 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were 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 owned by corporate insiders.
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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