Investing

Activist Investor GAMCO Increases Stake in Defense Company Kaman (KAMN)

Dmitry Potashkin / iStock via Getty Images

Fintel reports that GAMCO Investors has filed a 13D/A form with the SEC disclosing ownership of 2,492,450 shares of Kaman Corporation (KAMN). This represents 8.9% of the company.

In their previous filing dated October 29, 2020 they reported 2,126,704 shares and 7.69% of the company, an increase in shares of 17.20% and an increase in total ownership of 1.21% (calculated as current – previous percent ownership).

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.

What are other large shareholders doing?

State Street Corp holds 1,724,590 shares representing 6.16% ownership of the company. In it’s prior filing, the firm reported owning 1,458,842 shares, representing an increase of 15.41%. The firm increased its portfolio allocation in KAMN by 3.02% over the last quarter.

Cardinal Capital Management Llc /ct holds 1,306,785 shares representing 4.66% ownership of the company. In it’s prior filing, the firm reported owning 1,260,135 shares, representing an increase of 3.57%. The firm increased its portfolio allocation in KAMN by 4.20% over the last quarter.

Cramer Rosenthal Mcglynn Llc holds 1,129,775 shares representing 4.03% ownership of the company. In it’s prior filing, the firm reported owning 1,158,545 shares, representing a decrease of 2.55%. The firm decreased its portfolio allocation in KAMN by 8.95% over the last quarter.

Deprince Race & Zollo Inc holds 923,168 shares representing 3.29% ownership of the company. In it’s prior filing, the firm reported owning 967,207 shares, representing a decrease of 4.77%. The firm decreased its portfolio allocation in KAMN by 18.51% over the last quarter.

What is the overall institutional sentiment?

There are 417 funds or institutions reporting positions in Kaman Corporation. This is an increase of 6 owner(s) or 1.46%.

Average portfolio weight of all funds dedicated to Kaman Corporation is 0.1127%, a decrease of 14.2972%. Total shares owned by institutions increased in the last three months by 0.74% to 29,843,582 shares.

This article originally appeared on Fintel

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