In two new filings with the U.S. Securities and Exchange Commission, Mario Gabelli’s GAMCO Investors, disclosed that it upped its stake in Kaman Corporation (NYSE:KAMN), and reduced its position in Skyline Corporation (NYSEMKT:SKY).
GAMCO has increased its stake in Kaman Corporation (NYSE:KAMN) to 3.57 million shares from 3.35 million shares held previously. The new stake is equivalent to 13.19% of the company’s common stock outstanding. GAMCO, together with Gabelli Funds, MJG Associates, Teton Advisors, and GSI, holds 4.92 million Kaman Corporation (NYSE:KAMN) shares.
Bloomfield, Connecticut-based Kaman Corporation (NYSE:KAMN) is engaged in business in the aerospace and industrial distribution markets, and has a market cap of $1.08 billion. For the second quarter of 2014, the company reported record net sales of $459 million. Its distribution net sales increased by 12.6% to a record $304 million in the second quarter. In August, the board of directors of Kaman Corporation (NYSE:KAMN) declared a regular quarterly dividend of 16 cents per common share.
In its latest 13F, Cardinal Capital, led by Amy Minella, disclosed ownership of 937,200 shares of Kaman Corporation (NYSE:KAMN). Chuck Royce’s Royce & Associates owns 302,331 shares of the company, according to our record.
In another filing, GAMCO revealed that it reduced its exposure to Skyline Corporation (NYSEMKT:SKY). According to the filing, GAMCO holds 406,700 shares of the company’s common stock, down from 420,200 shares held previously. The stake is equates to 4.85% of common stock outstanding.
Skyline Corporation (NYSEMKT:SKY) is engaged in designing and marketing of manufactured housing, modular housing and recreational vehicles in United States and Canada. The company is located in Elkhart, Indiana, and has a market cap of $22.7 million.
Skyline Corporation (NYSEMKT:SKY) reported a net loss of around $2.6 million in the fourth quarter of fiscal 2014. The company posted net income of $45,000 in the same quarter of fiscal 2013. For fiscal 2014, the company reported net loss of about $11.9, compared to a net loss of $10.5 a year ago. Net loss per share was $1.41, compared to a net loss per share of $1.25 for the same period a year ago.
Recently, GAMCO, in two different regulatory filings, reported modifying its stakes in Layne Christensen Company (NASDAQ:LAYN) and Beasley Broadcast Group Inc (NASDAQ:BBGI).
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