Kaman Co. (NYSE:KAMN) announced a quarterly dividend on Tuesday, February 20th, RTT News reports. Stockholders of record on Tuesday, March 20th will be paid a dividend of 0.20 per share by the industrial products company on Thursday, April 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.29%.
Kaman has increased its dividend by an average of 6.8% annually over the last three years and has raised its dividend every year for the last 3 years. Kaman has a payout ratio of 34.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kaman to earn $2.89 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 27.7%.
Shares of Kaman (NYSE:KAMN) opened at $62.06 on Wednesday. The company has a market capitalization of $1,737.32, a P/E ratio of 32.03 and a beta of 0.81. 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 has a 52 week low of $45.50 and a 52 week high of $63.89.
Separately, Zacks Investment Research raised Kaman from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $64.50.
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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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