Noteworthy Price Action: Kaman Corporation Can’t Burn Your Long Portfolio. Just Reaches 52-Week High

Noteworthy Price Action: Kaman Corporation Can't Burn Your Long Portfolio. Just Reaches 52 Week High

The stock of Kaman Corporation (NYSE:KAMN) hit a new 52-week high and has $68.62 target or 41.00% above today’s $48.67 share price. The 5 months bullish chart indicates low risk for the $1.34B company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $68.62 price target is reached, the company will be worth $549.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.35% or $0.17 during the last trading session, hitting $48.67. About 114,730 shares traded hands. Kaman Corporation (NYSE:KAMN) has risen 15.04% since April 15, 2016 and is uptrending. It has outperformed by 10.41% the S&P500.

Kaman Corporation (NYSE:KAMN) Ratings Coverage

Out of 2 analysts covering Kaman (NYSE:KAMN), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Kaman has been the topic of 2 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Sector Weight” rating by KeyBanc Capital Markets given on Tuesday, July 21. The firm has “Buy” rating given on Thursday, December 10 by Longbow.

According to Zacks Investment Research, “Kaman Corporation is in the following business segments: Aerospace, Industrial Distribution, and Music Distribution. The Aerospace segment serves commercial, U.S. defense and foreign government markets. The Industrial Distribution segment serves nearly every sector of U.S. industry with industrial replacement parts as well as support services. The Music Distribution segment serves domestic and foreign markets with a wide variety of music instruments and accessories and manufactures guitars and other music products for professional and amateur musicians.”

Insitutional Activity: The institutional sentiment decreased to 0.95 in Q2 2016. Its down 0.01, from 0.96 in 2016Q1. The ratio dropped, as 17 funds sold all Kaman Corporation shares owned while 45 reduced positions. 8 funds bought stakes while 51 increased positions. They now own 26.13 million shares or 1.49% less from 26.53 million shares in 2016Q1.
The California-based Snyder Management Limited Partnership has invested 1.53% in Kaman Corporation (NYSE:KAMN). Bancorp Of Montreal Can reported 1,666 shares or 0% of all its holdings. Moreover, Mycio Wealth Prtn Ltd Liability has 0.01% invested in Kaman Corporation (NYSE:KAMN) for 1,000 shares. Fmr Llc holds 1.22M shares or 0.01% of its portfolio. Blackrock Fund Advsrs reported 1.75M shares or 0.02% of all its holdings. Mackenzie Fincl Corporation last reported 10,648 shares in the company. Los Angeles Capital Mngmt Equity Rech Inc accumulated 7,070 shares or 0% of the stock. Ls Inv Advsrs holds 0% of its portfolio in Kaman Corporation (NYSE:KAMN) for 1,007 shares. Invesco Limited accumulated 178,268 shares or 0% of the stock. Gabelli Funds Limited Liability Company has 0.31% invested in the company for 1.24 million shares. Huntington Bancshares accumulated 0% or 2,000 shares. Macquarie Group Ltd holds 20,300 shares or 0% of its portfolio. Assetmark Inc has 0% invested in the company for 233 shares. New York State Common Retirement Fund has 0% invested in the company for 25,800 shares. Qs Ltd Liability Com has 2,464 shares for 0% of their US portfolio.

Insider Transactions: Since May 26, 2016, the stock had 2 insider purchases, and 3 insider sales for $785,860 net activity. $423,214 worth of Kaman Corporation (NYSE:KAMN) was sold by Tedone John J. Keating Neal J bought 2,000 shares worth $87,272. 4,005 Kaman Corporation (NYSE:KAMN) shares with value of $176,636 were sold by Steiner Gregory L.. GOODRICH PHILIP A sold $358,572 worth of Kaman Corporation (NYSE:KAMN) on Thursday, May 26.

More recent Kaman Corporation (NYSE:KAMN) news were published by: Seekingalpha.com which released: “Kaman Corporation’s (KAMN) CEO Neal Keating on Q3 2016 Results – Earnings Call …” on October 29, 2016. Also Businesswire.com published the news titled: “Kaman Corporation Announces Release Date for Third Quarter 2016 Earnings” on October 11, 2016. Businesswire.com‘s news article titled: “Kaman Appoints Tribby Warfield Senior VP & General Manager AC&E and Fluid …” with publication date: December 16, 2015 was also an interesting one.

KAMN Company Profile

Kaman Corporation, incorporated on December 13, 1945, conducts business in the aerospace and distribution markets. The Firm operates through two divisions: Distribution and Aerospace. The Company’s brands include KAflex, KAron and K-MAX. The Firm produces the wing control surfaces (inboard and outboard flaps, slats and deceleron assemblies) for the United States Air Force’s (USAF’s) A-10 fleet. The Company’s bearings products are included on various military platforms manufactured in North America, Asia and Europe. These products are used as original equipment or specified as replacement parts by the manufacturers. These products are self-lubricating, ball and roller bearings for aircraft flight controls, turbine engines, landing gear and helicopter driveline couplings. The Company’s bearings offerings include super precision miniature ball bearings used in aerospace applications, dental products, surgical power tools, analytical devices and various industrial applications.

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