Teacher Retirement System of Texas decreased its position in Kaman Corp. (NYSE:KAMN) by 39.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,010 shares of the company’s stock after selling 11,533 shares during the period. Teacher Retirement System of Texas owned approximately 0.07% of Kaman Corp. worth $766,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Anchor Capital Advisors LLC boosted its stake in Kaman Corp. by 0.8% in the second quarter. Anchor Capital Advisors LLC now owns 25,913 shares of the company’s stock worth $1,102,000 after buying an additional 213 shares during the period. Arizona State Retirement System boosted its stake in Kaman Corp. by 3.0% in the first quarter. Arizona State Retirement System now owns 13,827 shares of the company’s stock worth $590,000 after buying an additional 400 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Kaman Corp. by 5.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,005 shares of the company’s stock worth $384,000 after buying an additional 465 shares during the period. Swiss National Bank boosted its stake in Kaman Corp. by 1.5% in the second quarter. Swiss National Bank now owns 41,100 shares of the company’s stock worth $1,748,000 after buying an additional 600 shares during the period. Finally, Stevens First Principles Investment Advisors boosted its stake in Kaman Corp. by 13.7% in the second quarter. Stevens First Principles Investment Advisors now owns 5,285 shares of the company’s stock worth $225,000 after buying an additional 635 shares during the period. Hedge funds and other institutional investors own 97.31% of the company’s stock.
Kaman Corp. (NYSE:KAMN) traded down 0.05% during midday trading on Thursday, reaching $44.02. The company’s stock had a trading volume of 14,153 shares. Kaman Corp. has a 1-year low of $35.09 and a 1-year high of $45.62. The stock’s 50-day moving average price is $44.37 and its 200 day moving average price is $42.81. The firm has a market capitalization of $1.19 billion, a PE ratio of 23.43 and a beta of 1.21.
Kaman Corp. (NYSE:KAMN) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.64 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.64. Kaman Corp. had a return on equity of 11.84% and a net margin of 2.89%. The business earned $470.06 million during the quarter, compared to analysts’ expectations of $459.13 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Equities analysts anticipate that Kaman Corp. will post $2.55 EPS for the current fiscal year.
The company also recently disclosed 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. The ex-dividend date is Friday, September 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.63%. Kaman Corp.’s payout ratio is presently 38.30%.
Separately, Zacks Investment Research upgraded Kaman Corp. from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Wednesday.
In other news, CEO Neal J. Keating acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was acquired at an average cost of $42.65 per share, with a total value of $85,300.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP John J. Tedone sold 9,442 shares of Kaman Corp. stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $44.82, for a total value of $423,190.44. Following the completion of the sale, the vice president now directly owns 19,190 shares of the company’s stock, valued at $860,095.80. The disclosure for this sale can be found here. 2.47% of the stock is owned by 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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