Kaman Co. to Issue Quarterly Dividend of $0.20 (NYSE:KAMN)

Kaman Co. (NYSE:KAMN) announced a quarterly dividend on Wednesday, November 15th, Zacks reports. Stockholders of record on Tuesday, December 19th will be paid a dividend of 0.20 per share by the industrial products company on Thursday, January 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Monday, December 18th.

Kaman has a payout ratio of 102.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Kaman to earn $0.82 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 97.6%.

Kaman Trading Down 1.3 %

Shares of KAMN stock opened at $20.34 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.39. The firm’s 50 day moving average is $19.63 and its 200 day moving average is $21.75. Kaman has a 12-month low of $18.06 and a 12-month high of $26.51.

Hedge Funds Weigh In On Kaman

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Kaman by 8.1% during the first quarter. BlackRock Inc. now owns 4,989,024 shares of the industrial products company’s stock valued at $216,923,000 after purchasing an additional 375,067 shares during the period. Gamco Investors INC. ET AL increased its holdings in Kaman by 12.2% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,555,330 shares of the industrial products company’s stock worth $56,984,000 after acquiring an additional 278,738 shares in the last quarter. State Street Corp raised its stake in Kaman by 18.2% during the 2nd quarter. State Street Corp now owns 1,724,590 shares of the industrial products company’s stock worth $54,173,000 after acquiring an additional 265,748 shares during the period. Norges Bank purchased a new position in Kaman during the fourth quarter valued at approximately $5,564,000. Finally, Citadel Advisors LLC boosted its position in shares of Kaman by 845.8% in the second quarter. Citadel Advisors LLC now owns 271,019 shares of the industrial products company’s stock worth $8,470,000 after purchasing an additional 242,363 shares during the period. 84.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on KAMN shares. TheStreet cut Kaman from a “c” rating to a “d+” rating in a research report on Friday, November 3rd. StockNews.com raised shares of Kaman from a “hold” rating to a “buy” rating in a research report on Thursday.

Kaman Company Profile

Kaman Corp. engages in the design, manufacture and distribution of aircrafts, aircraft parts and components. It operates through the following three segments: Engineered Products, Precision Products and Structures. The firm produces and markets proprietary aircraft bearings and components, super precision, miniature ball bearings, proprietary spring energized seals, springs and contacts, complex metallic and composite aero structures for commercial, military, and general aviation fixed and rotary wing aircraft, and safe and arming solutions for missile and bomb systems for the U.S.