New York State Common Retirement Fund Grows Stock Position in Karman Holdings Inc. $KRMN

New York State Common Retirement Fund grew its position in Karman Holdings Inc. (NYSE:KRMN) by 270.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,711 shares of the company’s stock after acquiring an additional 29,711 shares during the quarter. New York State Common Retirement Fund’s holdings in Karman were worth $2,939,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Federated Hermes Inc. purchased a new stake in shares of Karman in the third quarter worth approximately $2,055,000. J. Safra Sarasin Holding AG bought a new position in Karman in the 3rd quarter valued at $256,000. LBP AM SA increased its stake in Karman by 330.4% in the third quarter. LBP AM SA now owns 39,259 shares of the company’s stock worth $2,834,000 after purchasing an additional 30,137 shares during the period. Huntleigh Advisors Inc. bought a new stake in shares of Karman during the third quarter worth $2,466,000. Finally, Amalgamated Bank lifted its position in shares of Karman by 9.4% during the third quarter. Amalgamated Bank now owns 2,183 shares of the company’s stock worth $158,000 after purchasing an additional 188 shares during the last quarter.

Karman Stock Performance

Shares of KRMN stock opened at $95.44 on Friday. 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 business has a fifty day moving average of $87.55 and a 200 day moving average of $72.46. The firm has a market capitalization of $12.63 billion and a price-to-earnings ratio of 381.76. Karman Holdings Inc. has a 1 year low of $25.02 and a 1 year high of $118.38.

Karman (NYSE:KRMN) last announced its quarterly earnings data on Friday, November 7th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. Karman had a return on equity of 11.11% and a net margin of 2.65%.The firm had revenue of $121.79 million during the quarter. During the same quarter in the previous year, the business earned $0.04 earnings per share. The company’s revenue for the quarter was up 41.7% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Raymond James Financial reissued a “strong-buy” rating and issued a $130.00 price objective on shares of Karman in a research report on Thursday, January 22nd. Truist Financial set a $118.00 price target on shares of Karman in a research report on Friday, January 9th. KeyCorp raised their price target on shares of Karman from $80.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Royal Bank Of Canada lifted their price target on shares of Karman from $85.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Finally, Piper Sandler initiated coverage on Karman in a report on Wednesday, January 21st. They set a “neutral” rating and a $98.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Karman currently has an average rating of “Moderate Buy” and an average target price of $103.33.

Insider Buying and Selling

In related news, insider Stephanie Sawhill sold 62,000 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $63.93, for a total transaction of $3,963,660.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $6,742,450.00. Following the completion of the sale, the chief financial officer directly owned 859,709 shares in the company, valued at approximately $50,404,738.67. The trade was a 11.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 251,000 shares of company stock worth $15,419,170.

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.