Kaman Corporation (NYSE:KAMN) declared a quarterly dividend on Tuesday, August 8th, RTT News reports. Shareholders of record on Tuesday, September 19th will be paid a dividend of 0.20 per share by the industrial products company on Thursday, October 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Monday, September 18th.
Kaman Corporation has increased its dividend payment by an average of 4.0% per year over the last three years and has raised its dividend every year for the last 2 years. Kaman Corporation has a payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kaman Corporation to earn $2.88 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 27.8%.
Kaman Corporation (NYSE:KAMN) opened at 50.12 on Friday. Kaman Corporation has a 12 month low of $40.85 and a 12 month high of $53.41. The firm has a market cap of $1.40 billion, a P/E ratio of 26.98 and a beta of 0.70. The firm has a 50 day moving average of $49.59 and a 200-day moving average of $49.19.
Kaman Corporation (NYSE:KAMN) last issued its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.01). Kaman Corporation had a return on equity of 9.24% and a net margin of 2.95%. The business had revenue of $449.00 million for the quarter, compared to analysts’ expectations of $469.24 million. During the same period in the previous year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities research analysts forecast that Kaman Corporation will post $2.48 earnings per share for the current year.
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In other news, Director Richard J. Swift sold 2,404 shares of Kaman Corporation stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $50.70, for a total value of $121,882.80. Following the sale, the director now owns 19,937 shares of the company’s stock, valued at $1,010,805.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.38% of the stock is owned by insiders.
Several brokerages have recently weighed in on KAMN. Zacks Investment Research raised shares of Kaman Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. BidaskClub downgraded shares of Kaman Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Finally, Northcoast Research began coverage on shares of Kaman Corporation in a report on Tuesday, July 25th. They issued a “buy” rating and a $60.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $54.75.
Kaman Corporation Company Profile
Kaman Corporation conducts business in the aerospace and distribution markets. The Company operates through two segments: Distribution and Aerospace. The Company’s brands include KAflex, KAron and K-MAX. Distribution segment is a power transmission, motion control, and fluid power industrial distributor with operations throughout the United States.
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