Kaman (NYSE:KAMN) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Kaman (NYSE:KAMN) from a buy rating to a hold rating in a research note released on Wednesday, 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. “

KAMN stock opened at $44.72 on Wednesday. Kaman has a 1 year low of $33.93 and a 1 year high of $58.86. The company has a market cap of $1.25 billion, a P/E ratio of 406.58 and a beta of 1.31. The firm has a 50-day moving average of $41.27 and a 200 day moving average of $41.48. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.95 and a quick ratio of 2.53.

Kaman (NYSE:KAMN) last released its quarterly earnings results on Tuesday, November 2nd. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.07. Kaman had a net margin of 0.43% and a return on equity of 6.76%. The company had revenue of $179.84 million during the quarter, compared to the consensus estimate of $188.21 million. During the same period in the prior year, the firm earned $0.70 earnings per share. On average, equities research analysts expect that Kaman will post 1.89 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 13th. Shareholders of record on Tuesday, December 21st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Monday, December 20th. Kaman’s dividend payout ratio is 727.34%.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Kaman by 1.9% during the second quarter. Vanguard Group Inc. now owns 2,903,336 shares of the industrial products company’s stock valued at $146,329,000 after purchasing an additional 53,077 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Kaman by 10.5% during the third quarter. Gamco Investors INC. ET AL now owns 2,251,754 shares of the industrial products company’s stock valued at $80,320,000 after purchasing an additional 213,780 shares in the last quarter. Cramer Rosenthal Mcglynn LLC increased its stake in shares of Kaman by 20.9% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,537,783 shares of the industrial products company’s stock valued at $77,504,000 after purchasing an additional 266,130 shares in the last quarter. State Street Corp increased its stake in shares of Kaman by 4.8% during the second quarter. State Street Corp now owns 1,261,914 shares of the industrial products company’s stock valued at $63,854,000 after purchasing an additional 57,335 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Kaman by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,146,027 shares of the industrial products company’s stock valued at $57,760,000 after purchasing an additional 18,109 shares in the last quarter. 90.11% of the stock is owned by institutional investors and hedge funds.

About Kaman

Kaman Corp. engages in the design, manufacture and distribution of aircrafts, aircraft parts and components. It produces and markets proprietary aircraft bearings and components; super precision, miniature ball bearings; proprietary spring energized seals, springs and contacts; complex metallic and composite aero structures for commercial, military and general aviation fixed and rotary wing aircraft; and safe and arming solutions for missile and bomb systems for the U.S.

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