Schwab Charles Investment Management Inc. lifted its stake in shares of Kaman Co. (NYSE:KAMN) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 204,109 shares of the industrial products company’s stock after buying an additional 8,455 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.73% of Kaman worth $11,386,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Wells Fargo & Company MN raised its holdings in shares of Kaman by 19.9% during the third quarter. Wells Fargo & Company MN now owns 52,467 shares of the industrial products company’s stock worth $2,926,000 after purchasing an additional 8,720 shares during the last quarter. Amalgamated Bank purchased a new position in Kaman in the third quarter valued at $208,000. Citadel Advisors LLC increased its holdings in Kaman by 16.2% in the third quarter. Citadel Advisors LLC now owns 118,638 shares of the industrial products company’s stock valued at $6,618,000 after buying an additional 16,523 shares in the last quarter. Legal & General Group Plc increased its holdings in Kaman by 5.1% in the third quarter. Legal & General Group Plc now owns 55,778 shares of the industrial products company’s stock valued at $3,112,000 after buying an additional 2,714 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in Kaman by 2.2% in the third quarter. Eagle Asset Management Inc. now owns 177,634 shares of the industrial products company’s stock valued at $9,997,000 after buying an additional 3,901 shares in the last quarter. Institutional investors and hedge funds own 92.57% of the company’s stock.
KAMN has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Kaman from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. BidaskClub raised shares of Kaman from a “strong sell” rating to a “sell” rating in a report on Thursday, September 21st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $60.00.
In related news, Director Richard J. Swift sold 1,235 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $56.00, for a total transaction of $69,160.00. Following the transaction, the director now directly owns 18,702 shares in the company, valued at $1,047,312. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $152,137.77. The disclosure for this sale can be found here. 2.38% of the stock is owned by insiders.
Shares of Kaman Co. (NYSE:KAMN) opened at $59.76 on Friday. The company has a market cap of $1,628.29, a PE ratio of 33.02 and a beta of 0.75. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.35 and a current ratio of 2.85. Kaman Co. has a one year low of $45.50 and a one year high of $60.43.
Kaman (NYSE:KAMN) last released its earnings results on Thursday, October 26th. The industrial products company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates 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 had a net margin of 2.90% and a return on equity of 9.30%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 earnings per share. research analysts forecast that Kaman Co. will post 2.34 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Tuesday, December 19th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, December 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.34%. Kaman’s dividend payout ratio is currently 44.20%.
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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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