Short Interest in Kaman Co. (NYSE:KAMN) Expands By 5.0%

Kaman Co. (NYSE:KAMN) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 921,900 shares, a growth of 5.0% from the August 15th total of 877,600 shares. Based on an average daily trading volume, of 154,200 shares, the days-to-cover ratio is presently 6.0 days. Approximately 3.4% of the shares of the stock are sold short.

Kaman stock traded up $0.31 during mid-day trading on Monday, reaching $59.46. 153,922 shares of the company’s stock traded hands, compared to its average volume of 130,266. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 20.65 and a beta of 0.79. The stock has a 50 day moving average of $58.76 and a two-hundred day moving average of $59.75. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 0.27. Kaman has a 12-month low of $51.34 and a 12-month high of $67.48.

Kaman (NYSE:KAMN) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.39). The business had revenue of $174.70 million for the quarter, compared to analysts’ expectations of $485.19 million. Kaman had a net margin of 3.34% and a return on equity of 11.02%. Kaman’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 EPS. As a group, sell-side analysts forecast that Kaman will post 1.92 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Monday, September 16th. Kaman’s dividend payout ratio (DPR) is 27.78%.

A number of equities research analysts recently issued reports on KAMN shares. TheStreet downgraded shares of Kaman from a “b-” rating to a “c” rating in a research note on Friday, August 23rd. Zacks Investment Research raised shares of Kaman from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 29th.

In other Kaman news, CEO Neal J. Keating purchased 2,200 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $57.48 per share, with a total value of $126,456.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director E Reeves Callaway III sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $57.25, for a total transaction of $57,250.00. The disclosure for this sale can be found here. 2.01% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of KAMN. Geode Capital Management LLC increased its position in Kaman by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 311,202 shares of the industrial products company’s stock valued at $17,455,000 after acquiring an additional 24,109 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Kaman by 2.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 19,382 shares of the industrial products company’s stock valued at $1,133,000 after acquiring an additional 485 shares during the last quarter. Mason Street Advisors LLC increased its position in Kaman by 3.1% during the first quarter. Mason Street Advisors LLC now owns 8,951 shares of the industrial products company’s stock valued at $523,000 after acquiring an additional 268 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Kaman by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 10,828 shares of the industrial products company’s stock valued at $633,000 after acquiring an additional 196 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in Kaman by 2.5% during the first quarter. Parametric Portfolio Associates LLC now owns 176,343 shares of the industrial products company’s stock valued at $10,305,000 after acquiring an additional 4,300 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

About Kaman

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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