First Trust Advisors LP decreased its stake in shares of Kaman Corp. (NYSE:KAMN) by 27.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,759 shares of the company’s stock after selling 8,238 shares during the period. First Trust Advisors LP owned about 0.08% of Kaman Corp. worth $925,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the stock. Emerald Acquisition Ltd. bought a new position in Kaman Corp. during the second quarter worth $7,178,000. BNP Paribas Arbitrage SA increased its position in Kaman Corp. by 6.3% in the second quarter. BNP Paribas Arbitrage SA now owns 376,296 shares of the company’s stock worth $16,000,000 after buying an additional 22,150 shares during the period. Virginia Retirement System bought a new position in Kaman Corp. during the first quarter worth $820,000. BlackRock Fund Advisors increased its position in Kaman Corp. by 0.9% in the first quarter. BlackRock Fund Advisors now owns 1,694,972 shares of the company’s stock worth $72,358,000 after buying an additional 14,849 shares during the period. Finally, Barclays PLC bought a new position in Kaman Corp. during the first quarter worth $415,000. 97.31% of the stock is currently owned by institutional investors.
Shares of Kaman Corp. (NYSE:KAMN) traded up 0.09% during midday trading on Thursday, reaching $43.78. 37,052 shares of the company were exchanged. Kaman Corp. has a 52-week low of $36.63 and a 52-week high of $45.62. The company has a market capitalization of $1.19 billion, a P/E ratio of 23.30 and a beta of 1.09. The stock has a 50-day moving average price of $44.33 and a 200 day moving average price of $42.91.
Kaman Corp. (NYSE:KAMN) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.64. Kaman Corp. had a net margin of 2.89% and a return on equity of 11.84%. The firm had revenue of $470.06 million for the quarter, compared to analysts’ expectations of $459.13 million. During the same period last year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts expect that Kaman Corp. will post $2.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Tuesday, September 20th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, September 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.65%. Kaman Corp.’s payout ratio is presently 38.30%.
Separately, Zacks Investment Research upgraded shares of Kaman Corp. from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Wednesday, September 28th.
In other news, CEO Neal J. Keating purchased 2,000 shares of Kaman Corp. stock in a transaction dated Tuesday, August 2nd. The shares were bought at an average cost of $42.65 per share, with a total value of $85,300.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John J. Tedone sold 9,442 shares of Kaman Corp. stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $44.82, for a total transaction of $423,190.44. Following the transaction, the vice president now directly owns 19,190 shares in the company, valued at $860,095.80. The disclosure for this sale can be found here. 2.47% of the stock is currently owned by company insiders.
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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