Gabelli Increases Stake in Kaman Corp, Decreases Skyline Corp

Author's Avatar
Sep 25, 2014
Article's Main Image

Mario Gabelli (Trades, Portfolio)’s GAMCO Investors Inc. (GBL, Financial) made two portfolio changes this week: increasing its position in Kaman Corp (KAMN, Financial) and decreasing its holding of Skyline Corp (SKY, Financial).

According to GuruFocus Real Time Picks, Gabelli upped his stake in Kaman Corp by 1.58%, buying 55,575 additional shares. After the transaction, he holds 3,574,036 shares in total, which represents 13.19% of the portfolio.

Gabelli has traded the stock many times in the past:

03May20171354291493837669.png

Kaman operates two business segments, aerospace parts and distribution, and has a $1.07 billion market cap. The company’s stock price increased by 0.83% this year, closing at $40.06 per share on Wednesday.

In the second quarter, Kaman reported record net sales of $459 million, a 6.3% increase from the prior year. Net earnings declined to $16.6 million from $17.89 million the previous year.

The company has a P/E of 18.3, P/S of 0.63 and P/B near a three-year low at 2.0.

Gabelli also decreased his position in Skyline Corp by 3.21%, dropping his total holdings to 406,700 shares, which represents 4.85% of the company. The sale is a continuation of the steady reducing Gabelli has made in his holding of the company over the past few quarters.

03May20171354291493837669.png

Skyline Corp is a manufactured and recreational vehicle company located in the U.S. and Canada. This year, Skyline’s stock price dropped by 48% to close near a 10-year low at $2.71 on Wednesday.

For its fourth fiscal quarter, Skyline reported net sales of $57.7 million, an increase from $48.8 million a year previously. The company’s net loss was $2.6 million, compared to net income of $45,000 a year previously.

Skyline has a P/B near a two-year low at 0.68 and P/S near a 10-year low at 0.1.

For more stock trades of Gurus in real time, visit GuruFocus’ Real Time Picks, a Premium Feature. Not a Premium Member of GuruFocus? Try it free for 7 days here.