Kaman (KAMN) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Kaman (NYSE:KAMN) from a buy rating to a hold rating in a research report sent to investors on Friday.

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. “

KAMN has been the subject of several other reports. ValuEngine raised shares of Kaman from a hold rating to a buy rating in a research note on Thursday, November 1st. JPMorgan Chase & Co. started coverage on shares of Kaman in a research note on Thursday, July 12th. They issued a neutral rating and a $75.00 price target for the company.

NYSE KAMN traded down $2.03 during mid-day trading on Friday, reaching $58.53. 188,987 shares of the stock were exchanged, compared to its average volume of 199,527. Kaman has a one year low of $55.14 and a one year high of $75.08. The company has a market capitalization of $1.70 billion, a PE ratio of 26.25 and a beta of 0.73. The company has a quick ratio of 1.59, a current ratio of 2.70 and a debt-to-equity ratio of 0.46.

Kaman (NYSE:KAMN) last announced its earnings results on Thursday, November 1st. The industrial products company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.10). Kaman had a return on equity of 11.10% and a net margin of 2.40%. The firm had revenue of $443.06 million for the quarter, compared to the consensus estimate of $471.01 million. During the same period in the prior year, the business earned $0.69 EPS. Kaman’s quarterly revenue was down .9% on a year-over-year basis. As a group, equities analysts expect that Kaman will post 2.59 earnings per share for the current fiscal year.

In related news, CEO Neal J. Keating purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, November 6th. The stock was purchased at an average cost of $59.04 per share, with a total value of $236,160.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.38% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of KAMN. Schwab Charles Investment Management Inc. grew its holdings in shares of Kaman by 16.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 255,910 shares of the industrial products company’s stock valued at $17,835,000 after buying an additional 36,770 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new position in shares of Kaman during the second quarter valued at about $403,000. Bessemer Group Inc. grew its holdings in shares of Kaman by 5.3% during the second quarter. Bessemer Group Inc. now owns 239,935 shares of the industrial products company’s stock valued at $16,721,000 after buying an additional 12,165 shares during the last quarter. TD Asset Management Inc. grew its holdings in shares of Kaman by 337.5% during the second quarter. TD Asset Management Inc. now owns 109,800 shares of the industrial products company’s stock valued at $7,652,000 after buying an additional 84,700 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Kaman by 4.9% during the first quarter. Principal Financial Group Inc. now owns 239,482 shares of the industrial products company’s stock valued at $14,877,000 after buying an additional 11,124 shares during the last quarter. 92.35% of the stock is owned by hedge funds and other institutional investors.

About Kaman

Kaman Corporation operates in the aerospace and distribution markets. It 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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