Kaman Co. (NYSE:KAMN) – KeyCorp dropped their FY2020 earnings estimates for shares of Kaman in a report released on Tuesday, January 14th. KeyCorp analyst S. Barger now expects that the industrial products company will post earnings of $2.76 per share for the year, down from their previous estimate of $2.78. KeyCorp currently has a “Overweight” rating and a $75.00 price target on the stock.
KAMN has been the subject of a number of other research reports. ValuEngine raised shares of Kaman from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Zacks Investment Research downgraded shares of Kaman from a “hold” rating to a “sell” rating in a report on Friday. Finally, TheStreet upgraded shares of Kaman from a “c+” rating to a “b” rating in a research report on Thursday, November 7th.
Kaman (NYSE:KAMN) last issued its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.07. Kaman had a net margin of 14.74% and a return on equity of 9.94%. The company had revenue of $182.67 million during the quarter, compared to the consensus estimate of $177.33 million. During the same quarter in the prior year, the firm posted $0.57 EPS. The firm’s quarterly revenue was up 16.3% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Tuesday, December 17th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Monday, December 16th. Kaman’s dividend payout ratio is 27.78%.
In related news, Director E Reeves Callaway III sold 1,063 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $62.55, for a total transaction of $66,490.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.01% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Kaman by 1.4% during the 2nd quarter. BlackRock Inc. now owns 4,068,538 shares of the industrial products company’s stock worth $259,125,000 after purchasing an additional 57,847 shares in the last quarter. State Street Corp increased its position in Kaman by 0.3% in the 3rd quarter. State Street Corp now owns 843,878 shares of the industrial products company’s stock valued at $50,345,000 after acquiring an additional 2,450 shares during the period. Invesco Ltd. increased its position in Kaman by 1.2% in the 2nd quarter. Invesco Ltd. now owns 357,478 shares of the industrial products company’s stock valued at $22,768,000 after acquiring an additional 4,318 shares during the period. Morgan Stanley increased its position in Kaman by 140.0% in the 2nd quarter. Morgan Stanley now owns 257,212 shares of the industrial products company’s stock valued at $16,381,000 after acquiring an additional 150,036 shares during the period. Finally, Millennium Management LLC acquired a new position in Kaman in the 3rd quarter valued at approximately $11,803,000. Institutional investors and hedge funds own 90.76% of the company’s stock.
Kaman Corporation operates in the aerospace and distribution markets. The company operates through two segments, Distribution and Aerospace. The Distribution segment distributes electro-mechanical products; bearings; and power transmission, motion control, and electrical and fluid power components, as well as offers value-added services.
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