Zacks Investment Research Upgrades Kaman (NYSE:KAMN) to Hold

Zacks Investment Research upgraded shares of Kaman (NYSE:KAMNGet Rating) from a sell rating to a hold rating in a report published on Friday 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. “

Other equities research analysts also recently issued reports about the company. KeyCorp reduced their price objective on Kaman from $59.00 to $52.00 and set an overweight rating for the company in a report on Monday, February 28th. StockNews.com assumed coverage on Kaman in a report on Thursday, March 31st. They issued a buy rating for the company.

Shares of NYSE:KAMN opened at $39.01 on Friday. Kaman has a 1-year low of $33.93 and a 1-year high of $57.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.52 and a quick ratio of 2.92. The business has a fifty day moving average price of $42.51 and a 200-day moving average price of $41.35. The company has a market capitalization of $1.09 billion, a PE ratio of 24.85 and a beta of 1.25.

Kaman (NYSE:KAMNGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The industrial products company reported $0.48 earnings per share for the quarter. Kaman had a return on equity of 6.89% and a net margin of 6.16%. The firm had revenue of $175.15 million during the quarter. During the same quarter in the previous year, the business earned $0.41 earnings per share. On average, sell-side analysts anticipate that Kaman will post 1.87 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Tuesday, March 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.05%. Kaman’s dividend payout ratio is currently 50.96%.

Several institutional investors have recently added to or reduced their stakes in KAMN. CWM LLC lifted its position in shares of Kaman by 59.9% during the 1st quarter. CWM LLC now owns 734 shares of the industrial products company’s stock valued at $32,000 after buying an additional 275 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Kaman by 483.0% during the 4th quarter. Parallel Advisors LLC now owns 892 shares of the industrial products company’s stock valued at $39,000 after buying an additional 739 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Kaman by 463.8% during the 4th quarter. Quadrant Capital Group LLC now owns 981 shares of the industrial products company’s stock valued at $42,000 after buying an additional 807 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Kaman during the 3rd quarter valued at about $52,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in Kaman by 13.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,677 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 322 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Kaman Company Profile (Get Rating)

Kaman Corporation, together with its subsidiaries, operates in the aerospace, defense, medical, and industrial markets. The company operates through three segments: Engineered Products, Precision Products, and Structures. The Engineered Products segment produces and markets aircraft bearings and components; super precision miniature ball bearings; and spring energized seals, springs, and contacts.

Further Reading

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