Karman Holdings Inc. $KRMN Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon cut its Karman Holdings stake by 20.5% in the first quarter, selling 306,735 shares and ending with 1.19 million shares worth about $95.2 million.
• Analyst sentiment remains mixed but constructive, with a consensus rating of “Moderate Buy” and an average price target of $103.50, despite some firms trimming targets and one maintaining a sell rating.
• Karman’s latest results topped expectations, posting $0.11 EPS versus $0.08 expected and revenue of $151.2 million, up 51% year over year, even though the stock was trading near its 52-week low at $44.96.

Bank of New York Mellon Corp trimmed its position in shares of Karman Holdings Inc. (NYSE:KRMN - Free Report) by 20.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,188,884 shares of the company's stock after selling 306,735 shares during the quarter. Bank of New York Mellon Corp owned 0.90% of Karman worth $95,170,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Karman by 151.1% during the fourth quarter. Vanguard Group Inc. now owns 9,342,230 shares of the company's stock worth $683,571,000 after purchasing an additional 5,621,556 shares in the last quarter. Falcon Wealth Planning acquired a new position in shares of Karman in the first quarter valued at approximately $205,684,000. Schusterman Interests LLC purchased a new stake in Karman during the 3rd quarter worth approximately $148,024,000. Trustees of the University of Pennsylvania purchased a new stake in Karman during the 4th quarter worth approximately $142,869,000. Finally, Van ECK Associates Corp lifted its holdings in Karman by 125.3% during the 4th quarter. Van ECK Associates Corp now owns 2,867,379 shares of the company's stock worth $209,806,000 after buying an additional 1,594,518 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have commented on KRMN. Royal Bank Of Canada reissued an "outperform" rating and issued a $100.00 price target on shares of Karman in a research report on Tuesday, June 2nd. BWS Financial reiterated a "sell" rating and issued a $37.00 price objective on shares of Karman in a research note on Monday, May 18th. Evercore set a $100.00 target price on Karman in a report on Wednesday, May 13th. KeyCorp lowered their target price on Karman from $122.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, May 20th. Finally, Citigroup cut their price target on Karman from $97.00 to $76.00 and set a "buy" rating on the stock in a report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $103.50.

Karman Trading Down 2.6%

NYSE KRMN opened at $44.96 on Tuesday. Karman Holdings Inc. has a 52 week low of $44.00 and a 52 week high of $118.38. The firm has a 50 day moving average of $53.65 and a two-hundred day moving average of $77.40. The company has a quick ratio of 3.38, a current ratio of 3.53 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $5.96 billion, a PE ratio of 195.49 and a beta of 0.51.

Karman (NYSE:KRMN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. The business had revenue of $151.21 million for the quarter, compared to analyst estimates of $150.19 million. Karman had a net margin of 5.73% and a return on equity of 14.94%. The company's revenue was up 51.0% on a year-over-year basis. During the same period last year, the business earned $0.05 EPS. As a group, research analysts expect that Karman Holdings Inc. will post 0.58 EPS for the current fiscal year.

Karman Company 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.

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