Kaman Co. (NYSE:KAMN) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 692,400 shares, an increase of 22.0% from the August 15th total of 567,600 shares. Based on an average trading volume of 172,400 shares, the short-interest ratio is currently 4.0 days. Currently, 2.6% of the shares of the stock are sold short.
In related news, Director Thomas W. Rabaut sold 10,000 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $46.77, for a total value of $467,700.00. 1.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of KAMN. Cramer Rosenthal Mcglynn LLC raised its holdings in Kaman by 44.8% in the first quarter. Cramer Rosenthal Mcglynn LLC now owns 898,262 shares of the industrial products company's stock valued at $34,556,000 after buying an additional 277,951 shares during the period. APG Asset Management N.V. purchased a new stake in shares of Kaman during the first quarter valued at approximately $5,439,000. Jennison Associates LLC raised its stake in shares of Kaman by 66.9% during the second quarter. Jennison Associates LLC now owns 203,625 shares of the industrial products company's stock valued at $8,471,000 after purchasing an additional 81,647 shares during the period. State Street Corp raised its stake in shares of Kaman by 8.3% during the first quarter. State Street Corp now owns 946,700 shares of the industrial products company's stock valued at $36,603,000 after purchasing an additional 72,541 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Kaman by 4.8% during the second quarter. Goldman Sachs Group Inc. now owns 827,619 shares of the industrial products company's stock valued at $34,429,000 after purchasing an additional 38,239 shares during the period. Hedge funds and other institutional investors own 91.11% of the company's stock.
Separately, Zacks Investment Research raised shares of Kaman from a "strong sell" rating to a "hold" rating and set a $55.00 price objective on the stock in a research note on Saturday, August 15th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. The company presently has an average rating of "Buy" and an average price target of $55.00.
Shares of KAMN traded up $1.50 during mid-day trading on Wednesday, hitting $45.73. The company had a trading volume of 225,817 shares, compared to its average volume of 191,874. The business's 50-day simple moving average is $44.78 and its 200-day simple moving average is $41.35. The company has a quick ratio of 3.04, a current ratio of 4.08 and a debt-to-equity ratio of 0.48. Kaman has a 1-year low of $29.38 and a 1-year high of $68.24. The stock has a market cap of $1.27 billion, a PE ratio of 7.04 and a beta of 1.03.
Kaman (NYSE:KAMN) last released its earnings results on Monday, August 10th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.21 by $0.15. Kaman had a net margin of 22.64% and a return on equity of 7.28%. The business had revenue of $177.90 million for the quarter, compared to analysts' expectations of $161.47 million. During the same period last year, the company earned $0.16 earnings per share. The company's quarterly revenue was up 1.8% on a year-over-year basis. On average, sell-side analysts expect that Kaman will post 1.84 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Tuesday, September 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.80 annualized dividend and a yield of 1.75%. Kaman's payout ratio is 49.08%.
Kaman Company Profile
Kaman Corporation operates in the aerospace and distribution markets. The company operates through two segments, Distribution and Aerospace. The Distribution segment distributes electro-mechanical products; bearings; and power transmission, motion control, and electrical and fluid power components, as well as offers value-added services.
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