California State Teachers Retirement System cut its position in Kaman Corporation (NYSE:KAMN) by 9.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,682 shares of the industrial products company’s stock after selling 5,194 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Kaman Corporation worth $2,378,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Kaman Corporation during the 2nd quarter valued at $104,000. Huntington National Bank lifted its position in shares of Kaman Corporation by 25.0% during the 2nd quarter. Huntington National Bank now owns 2,500 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 500 shares during the period. Flinton Capital Management LLC lifted its position in shares of Kaman Corporation 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 acquiring an additional 1,496 shares during the period. Riverhead Capital Management LLC lifted its position in shares of Kaman Corporation by 69.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,730 shares of the industrial products company’s stock worth $186,000 after buying an additional 1,530 shares during the last quarter. Finally, Capstone Asset Management Co. bought a new stake in shares of Kaman Corporation during the 2nd quarter worth $200,000. Hedge funds and other institutional investors own 94.96% of the company’s stock.
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Kaman Corporation (NYSE KAMN) opened at $56.56 on Monday. Kaman Corporation has a fifty-two week low of $45.50 and a fifty-two week high of $57.11. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.85 and a quick ratio of 1.35. The stock has a market capitalization of $1,573.22, a PE ratio of 29.00 and a beta of 0.73.
Kaman Corporation (NYSE:KAMN) last issued its earnings results on Thursday, October 26th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Kaman Corporation had a return on equity of 9.30% and a net margin of 2.90%. The business had revenue of $447.00 million during the quarter, compared to analysts’ expectations of $461.06 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. equities analysts forecast that Kaman Corporation will post 2.34 earnings per share for the current year.
In other news, Director E Reeves Callaway III sold 2,697 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $56.41, for a total value of $152,137.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.38% of the stock is owned by corporate insiders.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded Kaman Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. BidaskClub upgraded Kaman Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, October 4th. Finally, Northcoast Research assumed coverage on Kaman Corporation in a research report on Tuesday, July 25th. They set a “buy” rating and a $60.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $56.67.
Kaman Corporation Profile
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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