Kaman Co. (KAMN) Sees Significant Increase in Short Interest

Kaman Co. (NYSE:KAMN) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 811,492 shares, a growth of 57.6% from the May 31st total of 514,811 shares. Based on an average daily trading volume, of 191,392 shares, the days-to-cover ratio is presently 4.2 days. Currently, 3.0% of the shares of the stock are sold short.

Several analysts have recently commented on KAMN shares. ValuEngine raised shares of Kaman from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research cut shares of Kaman from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Northcoast Research cut shares of Kaman from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research note on Thursday, March 15th.

In related news, CFO Robert D. Starr purchased 1,000 shares of the firm’s stock in a transaction dated Friday, May 11th. The shares were acquired at an average cost of $69.44 per share, with a total value of $69,440.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neal J. Keating purchased 2,000 shares of the firm’s stock in a transaction dated Friday, May 11th. The shares were bought at an average cost of $69.53 per share, for a total transaction of $139,060.00. The disclosure for this purchase can be found here. Insiders have sold 26,653 shares of company stock worth $1,927,755 over the last ninety days. Insiders own 2.38% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Gabelli Funds LLC lifted its holdings in Kaman by 0.3% in the first quarter. Gabelli Funds LLC now owns 1,185,800 shares of the industrial products company’s stock valued at $73,662,000 after buying an additional 3,000 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Kaman by 2.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 716,871 shares of the industrial products company’s stock valued at $42,181,000 after buying an additional 13,825 shares during the period. MetLife Investment Advisors LLC acquired a new position in Kaman in the fourth quarter valued at approximately $767,000. SG Americas Securities LLC lifted its holdings in Kaman by 52.8% in the first quarter. SG Americas Securities LLC now owns 3,232 shares of the industrial products company’s stock valued at $201,000 after buying an additional 1,117 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its holdings in Kaman by 59.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 11,234 shares of the industrial products company’s stock valued at $661,000 after buying an additional 4,201 shares during the period. Institutional investors and hedge funds own 89.34% of the company’s stock.

Shares of NYSE KAMN opened at $69.69 on Monday. Kaman has a fifty-two week low of $47.66 and a fifty-two week high of $75.08. The company has a market capitalization of $1.95 billion, a P/E ratio of 31.25 and a beta of 0.85. The company has a current ratio of 3.06, a quick ratio of 1.87 and a debt-to-equity ratio of 0.53.

Kaman (NYSE:KAMN) last announced its quarterly earnings data on Monday, May 7th. The industrial products company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.09. Kaman had a net margin of 3.14% and a return on equity of 11.59%. The business had revenue of $463.33 million for the quarter, compared to analyst estimates of $463.16 million. During the same period in the prior year, the business posted $0.22 earnings per share. Kaman’s revenue was up 6.3% compared to the same quarter last year. research analysts predict that Kaman will post 3.13 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Tuesday, June 19th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 18th. This represents a $0.80 annualized dividend and a yield of 1.15%. Kaman’s dividend payout ratio is currently 35.87%.

Kaman Company Profile

Kaman Corporation operates in the aerospace and distribution markets. It operates through two segments, Distribution and Aerospace. The Distribution segment distributes electro-mechanical products; bearings; and power transmission, motion control, and electrical and fluid power components, as well as offers value-added services.

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