BNP Paribas Arbitrage SA Decreases Stake in Kaman Corporation (KAMN)
BNP Paribas Arbitrage SA reduced its stake in Kaman Corporation (NYSE:KAMN) by 82.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,736 shares of the industrial products company’s stock after selling 244,138 shares during the period. BNP Paribas Arbitrage SA owned about 0.20% of Kaman Corporation worth $2,680,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Crawford Investment Counsel Inc. raised its stake in Kaman Corporation by 18.5% in the first quarter. Crawford Investment Counsel Inc. now owns 36,500 shares of the industrial products company’s stock valued at $1,757,000 after buying an additional 5,700 shares during the last quarter. Comerica Bank raised its stake in Kaman Corporation by 4.1% in the first quarter. Comerica Bank now owns 30,022 shares of the industrial products company’s stock valued at $1,439,000 after buying an additional 1,169 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Kaman Corporation by 6.5% in the first quarter. Bank of New York Mellon Corp now owns 414,922 shares of the industrial products company’s stock valued at $19,971,000 after buying an additional 25,381 shares during the last quarter. Flinton Capital Management LLC acquired a new stake in Kaman Corporation during the first quarter valued at about $106,000. Finally, Advisors Asset Management Inc. raised its stake in Kaman Corporation by 41.3% in the first quarter. Advisors Asset Management Inc. now owns 23,080 shares of the industrial products company’s stock valued at $1,111,000 after buying an additional 6,750 shares during the last quarter. Institutional investors own 93.71% of the company’s stock.
Shares of Kaman Corporation (NYSE KAMN) opened at 48.54 on Wednesday. Kaman Corporation has a 52-week low of $40.85 and a 52-week high of $53.41. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 26.12 and a beta of 0.69. The firm’s 50-day moving average is $50.20 and its 200 day moving average is $49.42.
Kaman Corporation (NYSE:KAMN) last announced its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.01. Kaman Corporation had a net margin of 2.95% and a return on equity of 9.24%. The company had revenue of $449 million for the quarter, compared to analyst estimates of $469.24 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. Kaman Corporation’s revenue was down 4.6% on a year-over-year basis. Equities analysts expect that Kaman Corporation will post $2.48 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Tuesday, September 19th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Monday, September 18th. Kaman Corporation’s dividend payout ratio is presently 43.24%.
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Several analysts have issued reports on KAMN shares. BidaskClub upgraded shares of Kaman Corporation from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Zacks Investment Research lowered shares of Kaman Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, Northcoast Research started coverage on shares of Kaman Corporation in a research report on Tuesday, July 25th. They set a “buy” rating and a $60.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $54.75.
In other Kaman Corporation news, Director Richard J. Swift sold 2,404 shares of Kaman Corporation 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 sale, the director now directly owns 19,937 shares in the company, valued at $1,010,805.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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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