Zacks Investment Research downgraded shares of Kaman Corp. (NYSE:KAMN) from a buy rating to a hold rating in a research note published on Tuesday.

According to Zacks, “Kaman Corporation is in the following business segments: Aerospace, Industrial Distribution, and Music Distribution. The Aerospace segment serves commercial, U.S. defense and foreign government markets. The Industrial Distribution segment serves nearly every sector of U.S. industry with industrial replacement parts as well as support services. The Music Distribution segment serves domestic and foreign markets with a wide variety of music instruments and accessories and manufactures guitars and other music products for professional and amateur musicians. “

Kaman Corp. (NYSE:KAMN) opened at 43.65 on Tuesday. Kaman Corp. has a one year low of $36.63 and a one year high of $45.62. The firm’s 50-day moving average price is $44.34 and its 200 day moving average price is $42.91. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 23.23 and a beta of 1.09.

Kaman Corp. (NYSE:KAMN) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.64 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.64. Kaman Corp. had a net margin of 2.89% and a return on equity of 11.84%. The company earned $470.06 million during the quarter, compared to analyst estimates of $459.13 million. During the same period in the previous year, the business earned $0.63 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Kaman Corp. will post $2.55 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Tuesday, September 20th will be paid a $0.18 dividend. The ex-dividend date is Friday, September 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.65%. Kaman Corp.’s dividend payout ratio (DPR) is 38.30%.

In other news, VP John J. Tedone sold 9,442 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $44.82, for a total value of $423,190.44. Following the completion of the sale, the vice president now directly owns 19,190 shares in the company, valued at approximately $860,095.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neal J. Keating acquired 2,000 shares of Kaman Corp. stock in a transaction dated Tuesday, August 2nd. The stock was bought at an average price of $42.65 per share, with a total value of $85,300.00. The disclosure for this purchase can be found here. 2.47% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of KAMN. Aperio Group LLC raised its stake in Kaman Corp. by 26.0% in the first quarter. Aperio Group LLC now owns 9,479 shares of the company’s stock valued at $405,000 after buying an additional 1,953 shares during the period. Virginia Retirement System bought a new stake in Kaman Corp. during the first quarter valued at approximately $820,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in Kaman Corp. by 5.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,005 shares of the company’s stock valued at $384,000 after buying an additional 465 shares during the period. BlackRock Group LTD raised its stake in Kaman Corp. by 5.9% in the first quarter. BlackRock Group LTD now owns 32,387 shares of the company’s stock valued at $1,382,000 after buying an additional 1,797 shares during the period. Finally, BlackRock Fund Advisors raised its stake in Kaman Corp. by 0.9% in the first quarter. BlackRock Fund Advisors now owns 1,694,972 shares of the company’s stock valued at $72,358,000 after buying an additional 14,849 shares during the period. Hedge funds and other institutional investors own 97.31% of the company’s stock.

About Kaman Corp.

Kaman Corporation conducts business in the aerospace and distribution markets. The Company operates through two segments: Distribution and Aerospace. Its Distribution segment is a power transmission, motion control, electrical and automation, and fluid power industrial distributor. It provides products, including bearings, mechanical and electrical power transmission, fluid power, motion control, automation, material handling components, electrical control and power distribution, and maintenance, repair and overhaul (MRO) supplies to a spectrum of industrial markets.

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