Kaman Corporation (KAMN) Shares Sold by Bessemer Group Inc.
Bessemer Group Inc. cut its stake in shares of Kaman Corporation (NYSE:KAMN) by 27.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,630 shares of the industrial products company’s stock after selling 7,366 shares during the period. Bessemer Group Inc. owned about 0.07% of Kaman Corporation worth $978,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Flinton Capital Management LLC purchased a new stake in shares of Kaman Corporation during the first quarter valued at $106,000. Schwab Charles Investment Management Inc. raised its stake in shares of Kaman Corporation by 11.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 182,175 shares of the industrial products company’s stock valued at $8,769,000 after buying an additional 18,953 shares in the last quarter. Koch Industries Inc. purchased a new stake in shares of Kaman Corporation during the first quarter valued at $303,000. OppenheimerFunds Inc. raised its stake in shares of Kaman Corporation by 22.5% in the first quarter. OppenheimerFunds Inc. now owns 27,985 shares of the industrial products company’s stock valued at $1,347,000 after buying an additional 5,133 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Kaman Corporation by 51.8% in the first quarter. UBS Asset Management Americas Inc. now owns 7,033 shares of the industrial products company’s stock valued at $338,000 after buying an additional 2,400 shares in the last quarter. 96.42% of the stock is owned by hedge funds and other institutional investors.
Kaman Corporation (NYSE:KAMN) opened at 49.60 on Wednesday. The stock’s 50 day moving average price is $50.49 and its 200 day moving average price is $49.53. Kaman Corporation has a 12-month low of $40.85 and a 12-month high of $53.41. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 26.70 and a beta of 0.69.
Kaman Corporation (NYSE:KAMN) last announced its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $449 million for the quarter, compared to the consensus estimate of $469.24 million. Kaman Corporation had a return on equity of 9.24% and a net margin of 2.95%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 EPS. On average, equities research analysts anticipate that Kaman Corporation will post $2.48 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Tuesday, September 19th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Monday, September 18th. Kaman Corporation’s dividend payout ratio is 43.24%.
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Several analysts recently weighed in on KAMN shares. Zacks Investment Research lowered Kaman Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. BidaskClub lowered Kaman Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Finally, Northcoast Research started coverage on Kaman Corporation in a report on Tuesday, July 25th. They issued a “buy” rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $54.75.
In other Kaman Corporation news, Director Richard J. Swift sold 2,404 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $50.70, for a total transaction of $121,882.80. Following the completion of the transaction, the director now owns 19,937 shares in the company, valued at $1,010,805.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.38% of the stock is owned by company insiders.
Kaman Corporation 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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