State of Alaska Department of Revenue Makes New Investment in Karman Holdings Inc. $KRMN

State of Alaska Department of Revenue purchased a new stake in Karman Holdings Inc. (NYSE:KRMN) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 26,709 shares of the company’s stock, valued at approximately $865,000.

A number of other hedge funds have also added to or reduced their stakes in KRMN. Bouvel Investment Partners LLC bought a new position in Karman in the 3rd quarter worth $1,841,000. GK Wealth Management LLC purchased a new stake in shares of Karman in the 3rd quarter worth about $65,000. Legacy Wealth Asset Management LLC lifted its position in shares of Karman by 83.8% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 7,374 shares of the company’s stock worth $239,000 after purchasing an additional 3,361 shares during the period. Congress Asset Management Co. boosted its stake in shares of Karman by 23.8% during the 3rd quarter. Congress Asset Management Co. now owns 1,068,811 shares of the company’s stock valued at $34,651,000 after purchasing an additional 205,503 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new stake in shares of Karman during the 3rd quarter valued at about $537,000.

Insider Buying and Selling

In other Karman news, Director David Stinnett acquired 27,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were acquired at an average price of $37.32 per share, with a total value of $1,007,640.00. Following the completion of the purchase, the director directly owned 3,530,395 shares of the company’s stock, valued at approximately $131,754,341.40. The trade was a 0.77% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KRMN. Royal Bank Of Canada reduced their price target on shares of Karman from $85.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, September 28th. Weiss Ratings raised shares of Karman from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Citigroup raised their price objective on shares of Karman from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Barclays assumed coverage on Karman in a research report on Friday, October 9th. They set an “overweight” rating and a $79.00 price objective on the stock. Finally, Piper Sandler reiterated an “overweight” rating and set a $91.00 target price (down from $114.00) on shares of Karman in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.33.

Karman Price Performance

KRMN opened at $35.34 on Thursday. The company has a current ratio of 3.56, a quick ratio of 3.40 and a debt-to-equity ratio of 2.01. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 121.86 and a beta of 0.64. The stock has a fifty day simple moving average of $39.72 and a two-hundred day simple moving average of $52.72. Karman Holdings Inc. has a 12-month low of $29.34 and a 12-month high of $118.38.

Karman (NYSE:KRMN) last released its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $182.06 million for the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The firm’s quarterly revenue was up 58.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. Research analysts predict that Karman Holdings Inc. will post 0.59 earnings per share for the current fiscal year.

About Karman

Karman Holdings Corp., doing business as Karman Space & Defense, is an aerospace and defense company that develops and manufactures mission-critical components, assemblies and structures. Its products are used in space-launch vehicles, missiles, hypersonic systems and other defense applications where performance, reliability and precision are essential.

The company’s capabilities include the production of composite and metallic structures, propulsion-related components, precision-machined parts and other highly engineered hardware.