Kaman Corp. (KAMN) Downgraded by Zacks Investment Research to “Hold”

Kaman Corp. (NYSE:KAMN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Kaman Corporation is in the following business segments: Aerospace, Industrial Distribution, and Music Distribution. The Aerospace segment serves commercial, U.S. defense and foreign government markets. The Industrial Distribution segment serves nearly every sector of U.S. industry with industrial replacement parts as well as support services. The Music Distribution segment serves domestic and foreign markets with a wide variety of music instruments and accessories and manufactures guitars and other music products for professional and amateur musicians. “

Shares of Kaman Corp. (NYSE:KAMN) opened at 43.95 on Tuesday. The company’s 50-day moving average price is $44.36 and its 200 day moving average price is $42.89. Kaman Corp. has a 12-month low of $36.63 and a 12-month high of $45.62. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 23.39 and a beta of 1.09.

Kaman Corp. (NYSE:KAMN) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.64 EPS for the quarter, meeting the consensus estimate of $0.64. Kaman Corp. had a return on equity of 11.84% and a net margin of 2.89%. The company had revenue of $470.06 million for the quarter, compared to analyst estimates of $459.13 million. During the same period last year, the company earned $0.63 earnings per share. Kaman Corp.’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that Kaman Corp. will post $2.55 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Tuesday, September 20th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Friday, September 16th. Kaman Corp.’s dividend payout ratio is presently 38.30%.

In other news, VP Gregory L. Steiner sold 4,005 shares of Kaman Corp. stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $44.10, for a total value of $176,620.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Neal J. Keating purchased 2,000 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was purchased at an average cost of $42.65 per share, for a total transaction of $85,300.00. The disclosure for this purchase can be found here. 2.47% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Emerald Acquisition Ltd. purchased a new stake in shares of Kaman Corp. during the second quarter worth about $7,178,000. FMR LLC raised its stake in shares of Kaman Corp. by 9.6% in the second quarter. FMR LLC now owns 1,221,889 shares of the company’s stock worth $51,955,000 after buying an additional 107,348 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Kaman Corp. by 3.9% in the second quarter. Vanguard Group Inc. now owns 2,129,903 shares of the company’s stock worth $90,563,000 after buying an additional 79,637 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Kaman Corp. by 3.3% in the second quarter. BlackRock Fund Advisors now owns 1,750,293 shares of the company’s stock worth $74,422,000 after buying an additional 55,321 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Kaman Corp. by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,316,817 shares of the company’s stock worth $55,991,000 after buying an additional 36,297 shares in the last quarter. 97.31% of the stock is currently owned by hedge funds and other institutional investors.

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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