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GAMCO Investors Ups Stake in Kaman Corporation (KAMN) To Over 13%; Cuts Exposure To Skyline Corporation (SKY)

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.

Mario Gabelli

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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