Kaman Co. (NYSE:KAMN) Announces $0.20 Quarterly Dividend

May 26, 2023

Kaman Co. (NYSE:KAMN - Get Rating) announced a quarterly dividend on Wednesday, June 7th, Zacks reports. Stockholders of record on Tuesday, June 20th will be given a dividend of 0.20 per share by the industrial products company on Thursday, July 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, June 16th.

Kaman has a dividend payout ratio of 100.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Analysts expect Kaman to earn $0.70 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 114.3%.

NYSE KAMN opened at $23.49 on Friday. The company has a 50 day moving average of $22.29 and a 200-day moving average of $22.65. The company has a quick ratio of 2.33, a current ratio of 3.80 and a debt-to-equity ratio of 0.89. Kaman has a 1-year low of $18.88 and a 1-year high of $38.51.

Separately, StockNews.com started coverage on shares of Kaman in a report on Thursday, May 18th. They set a "hold" rating for the company.

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in Kaman by 8.1% in 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 in the last quarter. Gamco Investors INC. ET AL raised its position in Kaman by 12.2% in the fourth 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 during the period. State Street Corp raised its position in Kaman by 18.2% in the second 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 bought a new stake in shares of Kaman in the fourth quarter valued at approximately $5,564,000. Finally, Citadel Advisors LLC raised 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 valued at $8,470,000 after purchasing an additional 242,363 shares during the period. Institutional investors own 86.07% of the company's stock.

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.

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