Kaman (NYSE:KAMN) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Kaman (NYSE:KAMN) from a buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Kaman Corporation is in the aerospace and industrial distribution markets. The company produces and/or markets widely used proprietary aircraft bearings and components; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; aerostructure engineering design analysis and FAA certification services; safe and arm solutions for missile and bomb systems for the U.S. and allied militaries; design and supply of aftermarket parts to MRO aerospace markets; K-MAX medium to heavy lift helicopters; and support for the company’s SH-2G Super Seasprite maritime helicopters and K-MAX aircraft. Additionally, Kaman provides engineering, design and support for automation, electrical, linear, hydraulic and pneumatic systems as well as belting and rubber fabrication, customized mechanical services, hose assemblies, repair, fluid analysis and motor management. “

Separately, KeyCorp lifted their price objective on Kaman from $55.00 to $65.00 and gave the stock an overweight rating in a report on Monday, November 23rd.

Kaman stock opened at $58.35 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.65 and a quick ratio of 2.68. Kaman has a 1-year low of $29.38 and a 1-year high of $67.45. The company has a market cap of $1.61 billion, a PE ratio of 1,945.65 and a beta of 1.23. The stock’s 50 day moving average price is $56.38 and its 200 day moving average price is $46.72.

Kaman (NYSE:KAMN) last issued its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.29. The firm had revenue of $213.96 million during the quarter, compared to analysts’ expectations of $184.27 million. Kaman had a return on equity of 8.14% and a net margin of 0.14%. Kaman’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share. On average, equities research analysts anticipate that Kaman will post 2.12 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 14th. Investors of record on Tuesday, December 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 14th. This represents a $0.80 annualized dividend and a yield of 1.37%. Kaman’s dividend payout ratio is presently 49.08%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. raised its holdings in shares of Kaman by 13.2% in the third quarter. Sei Investments Co. now owns 30,349 shares of the industrial products company’s stock worth $1,184,000 after acquiring an additional 3,545 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Kaman in the third quarter worth $66,000. Cubist Systematic Strategies LLC acquired a new position in shares of Kaman in the third quarter worth $1,157,000. AQR Capital Management LLC acquired a new position in shares of Kaman in the third quarter worth $276,000. Finally, State of Tennessee Treasury Department raised its holdings in shares of Kaman by 71.8% in the third quarter. State of Tennessee Treasury Department now owns 15,916 shares of the industrial products company’s stock worth $620,000 after acquiring an additional 6,651 shares during the last quarter. 84.72% of the stock is owned by institutional investors.

Kaman Company Profile

Kaman Corporation, together with its subsidiaries, operates in the aerospace, medical, and industrial markets. The company produces and markets aircraft bearings and components; super precision miniature ball bearings; spring energized seals, springs, and contacts; and metallic and composite aero structures for commercial, military, and general aviation fixed and rotary wing aircrafts.

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