Kaman (KAMN) Declares $0.20 Dividend
Kaman said on June 7, 2023 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Previously, the company paid $0.20 per share.
Shares must be purchased before the ex-div date of June 16, 2023 to qualify for the dividend. Shareholders of record as of June 20, 2023 will receive the payment on July 13, 2023.
At the current share price of $23.48 / share, the stock's dividend yield is 3.41%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.90%, the lowest has been 1.11%, and the highest has been 4.04%. The standard deviation of yields is 0.73 (n=237).
The current dividend yield is 2.08 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -0.45. 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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What is the Fund Sentiment?
There are 390 funds or institutions reporting positions in Kaman. This is an increase of 5 owner(s) or 1.30% in the last quarter. Average portfolio weight of all funds dedicated to KAMN is 0.08%, a decrease of 22.34%. Total shares owned by institutions decreased in the last three months by 2.24% to 29,181K shares. 
The put/call ratio of KAMN is 0.16, indicating a bullish outlook.
Analyst Price Forecast Suggests 65.08% Upside
As of June 2, 2023, the average one-year price target for Kaman is 38.76. The forecasts range from a low of 38.38 to a high of $39.90. The average price target represents an increase of 65.08% from its latest reported closing price of 23.48.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Kaman is 755MM, an increase of 4.18%. The projected annual non-GAAP EPS is 1.29.
What are Other Shareholders Doing?
Gamco Investors, Inc. Et Al holds 2,536K shares representing 9.00% ownership of the company. In it's prior filing, the firm reported owning 2,555K shares, representing a decrease of 0.77%. The firm increased its portfolio allocation in KAMN by 1.76% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 2,055K shares representing 7.29% ownership of the company. In it's prior filing, the firm reported owning 2,094K shares, representing a decrease of 1.91%. The firm decreased its portfolio allocation in KAMN by 2.26% over the last quarter.
Deprince Race & Zollo holds 1,231K shares representing 4.37% ownership of the company. In it's prior filing, the firm reported owning 1,239K shares, representing a decrease of 0.61%. The firm increased its portfolio allocation in KAMN by 2.97% over the last quarter.
EQ ADVISORS TRUST - 1290 VT GAMCO Small Company Value Portfolio Class IA holds 1,187K shares representing 4.21% ownership of the company. In it's prior filing, the firm reported owning 1,188K shares, representing a decrease of 0.13%. The firm decreased its portfolio allocation in KAMN by 2.30% over the last quarter.
Cardinal Capital Management holds 1,183K shares representing 4.20% ownership of the company. In it's prior filing, the firm reported owning 1,244K shares, representing a decrease of 5.16%. The firm increased its portfolio allocation in KAMN by 6.90% 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.
Key filings for this company:
This story originally appeared on Fintel.