Federated Hermes Inc. Makes New Investment in Karman Holdings Inc. $KRMN

Federated Hermes Inc. bought a new stake in Karman Holdings Inc. (NYSE:KRMN) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 28,457 shares of the company’s stock, valued at approximately $2,055,000.

A number of other institutional investors have also recently made changes to their positions in the company. Stephens Investment Management Group LLC boosted its stake in Karman by 32.7% during the 2nd quarter. Stephens Investment Management Group LLC now owns 346,916 shares of the company’s stock worth $17,474,000 after purchasing an additional 85,403 shares during the last quarter. Huntleigh Advisors Inc. acquired a new stake in shares of Karman in the third quarter valued at about $2,466,000. GAM Holding AG purchased a new position in shares of Karman in the third quarter worth about $1,250,000. King Luther Capital Management Corp acquired a new position in Karman during the second quarter worth about $2,363,000. Finally, Lisanti Capital Growth LLC acquired a new position in Karman during the second quarter worth about $1,996,000.

Insider Buying and Selling

In other Karman news, insider Stephanie Sawhill sold 62,000 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $63.93, for a total transaction of $3,963,660.00. Following the transaction, the insider directly owned 504,939 shares in the company, valued at $32,280,750.27. This represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan Beaudoin sold 74,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $63.69, for a total value of $4,713,060.00. Following the transaction, the chief operating officer owned 666,861 shares of the company’s stock, valued at approximately $42,472,377.09. This represents a 9.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 251,000 shares of company stock valued at $15,419,170.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler started coverage on Karman in a report on Wednesday, January 21st. They issued a “neutral” rating and a $98.00 target price for the company. Evercore ISI boosted their price target on shares of Karman from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, January 22nd. Truist Financial set a $118.00 price objective on shares of Karman in a report on Friday, January 9th. Royal Bank Of Canada lifted their target price on shares of Karman from $85.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $130.00 target price on shares of Karman in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Karman presently has an average rating of “Moderate Buy” and an average price target of $103.33.

Karman Stock Down 12.4%

Shares of KRMN opened at $97.86 on Thursday. The company’s 50-day moving average price is $86.54 and its 200 day moving average price is $71.92. Karman Holdings Inc. has a 12-month low of $25.02 and a 12-month high of $118.38. The company has a current ratio of 2.86, a quick ratio of 2.69 and a debt-to-equity ratio of 1.27. The firm has a market cap of $12.95 billion and a P/E ratio of 391.44.

Karman (NYSE:KRMN) last announced its quarterly earnings results on Friday, November 7th. The company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $121.79 million during the quarter. Karman had a net margin of 2.65% and a return on equity of 11.11%. Karman’s revenue was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.04 earnings per share.

About Karman

We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.