Macquarie Group Ltd. acquired a new stake in shares of Kaman Co. (NYSE:KAMN) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 6,380 shares of the industrial products company’s stock, valued at approximately $356,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Kaman during the 2nd quarter valued at approximately $104,000. Public Employees Retirement System of Ohio grew its holdings in Kaman by 5.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,652 shares of the industrial products company’s stock valued at $132,000 after buying an additional 145 shares in the last quarter. Flinton Capital Management LLC grew its holdings in Kaman by 67.7% during the 2nd quarter. Flinton Capital Management LLC now owns 3,706 shares of the industrial products company’s stock valued at $185,000 after buying an additional 1,496 shares in the last quarter. Riverhead Capital Management LLC grew its holdings in Kaman by 69.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,730 shares of the industrial products company’s stock valued at $186,000 after buying an additional 1,530 shares in the last quarter. Finally, Capstone Asset Management Co. purchased a new stake in Kaman during the 2nd quarter valued at approximately $200,000. 92.58% of the stock is owned by institutional investors and hedge funds.
In related news, Director E Reeves Callaway III sold 2,697 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $56.41, for a total value of $152,137.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard J. Swift sold 1,235 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $56.00, for a total transaction of $69,160.00. Following the completion of the transaction, the director now directly owns 18,702 shares of the company’s stock, valued at $1,047,312. The disclosure for this sale can be found here. Company insiders own 2.38% of the company’s stock.
Kaman (NYSE:KAMN) last posted its earnings results on Thursday, October 26th. The industrial products company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. Kaman had a net margin of 2.90% and a return on equity of 9.30%. The firm had revenue of $447.00 million during the quarter, compared to analyst estimates of $461.06 million. During the same period last year, the firm posted $0.64 earnings per share. Kaman’s revenue for the quarter was down 1.4% compared to the same quarter last year. research analysts predict that Kaman Co. will post 2.34 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Tuesday, December 19th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Monday, December 18th. Kaman’s dividend payout ratio (DPR) is presently 44.20%.
A number of equities research analysts have issued reports on KAMN shares. Zacks Investment Research lowered shares of Kaman from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 1st. BidaskClub raised shares of Kaman from a “hold” rating to a “buy” rating in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $57.50.
Kaman Corporation conducts business in the aerospace and distribution markets. The Company operates through two segments: Distribution and Aerospace. The Company’s brands include KAflex, KAron and K-MAX. Distribution segment is a power transmission, motion control, and fluid power industrial distributor with operations throughout the United States.
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