Kaman (KAMN) Declares $0.20 Dividend
Kaman said on February 22, 2023 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Shareholders of record as of March 21, 2023 will receive the payment on April 13, 2023. Previously, the company paid $0.20 per share.
At the current share price of $26.00 / share, the stock's dividend yield is 3.08%. Looking back five years and taking a sample every week, the average dividend yield has been 1.77%, the lowest has been 1.07%, and the highest has been 4.04%. The standard deviation of yields is 0.62 (n=236).
The current dividend yield is 2.12 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -0.49. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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Analyst Price Forecast Suggests 19.65% Upside
As of March 1, 2023, the average one-year price target for Kaman is $31.11. The forecasts range from a low of $21.21 to a high of $42.00. The average price target represents an increase of 19.65% from its latest reported closing price of $26.00.
The projected annual revenue for Kaman is $755MM, an increase of 9.71%. The projected annual EPS is $1.29.
What is the Fund Sentiment?
There are 386 funds or institutions reporting positions in Kaman. This is a decrease of 20 owner(s) or 4.93% in the last quarter. Average portfolio weight of all funds dedicated to KAMN is 0.11%, an increase of 3.29%. Total shares owned by institutions increased in the last three months by 2.03% to 29,955K shares. The put/call ratio of KAMN is 0.11, indicating a bullish outlook.
What are large shareholders doing?
Gamco Investors, Inc. Et Al holds 2,555K shares representing 9.12% ownership of the company. In it's prior filing, the firm reported owning 2,277K shares, representing an increase of 10.91%. The firm decreased its portfolio allocation in KAMN by 18.14% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 2,094K shares representing 7.47% ownership of the company. In it's prior filing, the firm reported owning 2,052K shares, representing an increase of 1.99%. The firm decreased its portfolio allocation in KAMN by 25.89% over the last quarter.
Cardinal Capital Management holds 1,244K shares representing 4.44% ownership of the company. In it's prior filing, the firm reported owning 1,307K shares, representing a decrease of 5.09%. The firm decreased its portfolio allocation in KAMN by 28.72% over the last quarter.
Deprince Race & Zollo holds 1,239K shares representing 4.42% ownership of the company. In it's prior filing, the firm reported owning 959K shares, representing an increase of 22.56%. The firm decreased its portfolio allocation in KAMN by 7.51% over the last quarter.
EQ ADVISORS TRUST - 1290 VT GAMCO Small Company Value Portfolio Class IA holds 1,128K shares representing 4.02% ownership of the company. In it's prior filing, the firm reported owning 1,118K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in KAMN by 4.60% over the last quarter.
Kaman Background Information
(This description is provided by the company.)
Kaman Corporation, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut conducts business in the aerospace & defense, industrial and medical markets. Kaman produces and markets proprietary aircraft bearings and components; super precision, miniature ball bearings; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; safe and arming solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; restoration, modification and support of our SH-2G Super Seasprite maritime helicopters; manufacture and support of our K-MAX® manned and unmanned medium-to-heavy lift helicopters.
This story originally appeared on Fintel.