Loomis Sayles & Co. L P Sells 81,612 Shares of Karman Holdings Inc. $KRMN

Loomis Sayles & Co. L P reduced its holdings in Karman Holdings Inc. (NYSE:KRMN) by 15.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 457,723 shares of the company’s stock after selling 81,612 shares during the period. Loomis Sayles & Co. L P’s holdings in Karman were worth $23,056,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. acquired a new stake in shares of Karman in the first quarter worth $61,024,000. Bank of New York Mellon Corp boosted its holdings in Karman by 162.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,770,498 shares of the company’s stock valued at $89,180,000 after purchasing an additional 1,096,790 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in Karman in the 1st quarter worth $58,799,000. JPMorgan Chase & Co. increased its holdings in shares of Karman by 6.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,517,547 shares of the company’s stock worth $76,439,000 after purchasing an additional 93,619 shares during the period. Finally, Invesco Ltd. acquired a new position in shares of Karman during the first quarter valued at about $50,220,000.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KRMN. Raymond James Financial started coverage on Karman in a research report on Friday, September 5th. They set a “strong-buy” rating and a $100.00 target price on the stock. Truist Financial began coverage on Karman in a report on Friday, October 10th. They set a “buy” rating and a $89.00 price objective on the stock. Evercore ISI boosted their price objective on Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Royal Bank Of Canada reduced their target price on Karman from $93.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Karman in a research note on Monday, November 24th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $76.17.

Karman Trading Down 0.6%

KRMN stock opened at $67.04 on Friday. Karman Holdings Inc. has a 1-year low of $25.02 and a 1-year high of $88.82. The company has a current ratio of 2.86, a quick ratio of 2.69 and a debt-to-equity ratio of 1.27. The business’s 50 day moving average is $72.86 and its 200-day moving average is $58.18. The firm has a market cap of $8.87 billion and a P/E ratio of 268.16.

Karman (NYSE:KRMN) last posted its earnings results on Friday, November 7th. The company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. Karman had a return on equity of 11.11% and a net margin of 2.65%.The business had revenue of $121.79 million during the quarter. During the same quarter last year, the business earned $0.04 EPS. Karman’s quarterly revenue was up 41.7% compared to the same quarter last year.

Insider Buying and Selling at Karman

In related news, CFO Michael Willis sold 115,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $58.63, for a total transaction of $6,742,450.00. Following the completion of the sale, the chief financial officer owned 859,709 shares in the company, valued at $50,404,738.67. This trade represents a 11.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephanie Sawhill sold 62,000 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $63.93, for a total transaction of $3,963,660.00. Following the completion of the transaction, the insider owned 504,939 shares in the company, valued at approximately $32,280,750.27. This trade represents a 10.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 251,000 shares of company stock valued at $15,419,170.

Karman Profile

We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives.