Voya Investment Management LLC Acquires 151,954 Shares of Karman Holdings Inc. $KRMN

Voya Investment Management LLC grew its stake in Karman Holdings Inc. (NYSE:KRMN) by 50.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450,669 shares of the company’s stock after acquiring an additional 151,954 shares during the period. Voya Investment Management LLC’s holdings in Karman were worth $32,538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KRMN. Vanguard Group Inc. acquired a new position in Karman during the first quarter valued at approximately $61,024,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Karman during the 1st quarter worth approximately $58,799,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Karman during the 1st quarter worth approximately $48,691,000. Alliancebernstein L.P. acquired a new stake in shares of Karman in the 1st quarter valued at approximately $37,182,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Karman by 162.8% in the second quarter. Bank of New York Mellon Corp now owns 1,770,498 shares of the company’s stock valued at $89,180,000 after buying an additional 1,096,790 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have issued reports on KRMN. Citigroup began coverage on shares of Karman in a research report on Thursday, December 11th. They set a “buy” rating and a $84.00 price target on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Karman in a research note on Monday, December 15th. Truist Financial assumed coverage on shares of Karman in a report on Friday, October 10th. They issued a “buy” rating and a $89.00 target price on the stock. Royal Bank Of Canada reduced their price target on Karman from $93.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Finally, Evercore ISI boosted their price target on Karman from $58.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Karman presently has an average rating of “Buy” and a consensus price target of $80.43.

Insider Activity

In related news, insider Stephanie Sawhill sold 62,000 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $63.93, for a total value of $3,963,660.00. Following the completion of the sale, the insider directly owned 504,939 shares in the company, valued at $32,280,750.27. The trade was a 10.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Willis sold 115,000 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $58.63, for a total value of $6,742,450.00. Following the completion of the transaction, the chief financial officer directly owned 859,709 shares in the company, valued at approximately $50,404,738.67. This represents a 11.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 251,000 shares of company stock valued at $15,419,170.

Karman Price Performance

Shares of KRMN opened at $72.05 on Friday. The company’s 50-day moving average is $71.32 and its 200-day moving average is $60.62. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.86 and a quick ratio of 2.69. The firm has a market capitalization of $9.53 billion and a PE ratio of 288.20. Karman Holdings Inc. has a fifty-two week low of $25.02 and a fifty-two week high of $88.82.

Karman (NYSE:KRMN) last announced its quarterly earnings results on Friday, November 7th. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $121.79 million for the quarter. Karman had a net margin of 2.65% and a return on equity of 11.11%. The firm’s quarterly revenue was up 41.7% on a year-over-year basis. During the same quarter last year, the company posted $0.04 EPS.

Karman Profile

We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.