State of Wisconsin Investment Board Buys New Position in Kennametal Inc. (NYSE:KMT)

State of Wisconsin Investment Board purchased a new stake in shares of Kennametal Inc. (NYSE:KMT) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 113,500 shares of the industrial products company’s stock, valued at approximately $4,579,000. State of Wisconsin Investment Board owned approximately 0.14% of Kennametal at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its stake in shares of Kennametal by 338.7% in the first quarter. Public Employees Retirement System of Ohio now owns 48,494 shares of the industrial products company’s stock worth $1,902,000 after acquiring an additional 37,439 shares during the period. Capstone Asset Management Co. lifted its stake in shares of Kennametal by 4.9% in the second quarter. Capstone Asset Management Co. now owns 6,155 shares of the industrial products company’s stock worth $230,000 after acquiring an additional 290 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Kennametal by 4.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 29,364 shares of the industrial products company’s stock worth $1,099,000 after acquiring an additional 1,266 shares during the period. LS Investment Advisors LLC lifted its stake in shares of Kennametal by 19.2% in the second quarter. LS Investment Advisors LLC now owns 6,552 shares of the industrial products company’s stock worth $245,000 after acquiring an additional 1,057 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Kennametal by 3.4% in the second quarter. Louisiana State Employees Retirement System now owns 21,000 shares of the industrial products company’s stock worth $786,000 after acquiring an additional 700 shares during the period. 98.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Kennametal Inc. (NYSE:KMT) traded down $0.34 during trading hours on Wednesday, reaching $45.44. The company’s stock had a trading volume of 568,575 shares, compared to its average volume of 902,846. Kennametal Inc. has a 52-week low of $31.12 and a 52-week high of $48.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.71 and a quick ratio of 1.41. The company has a market cap of $3,765.50, a P/E ratio of 23.83, a PEG ratio of 2.20 and a beta of 1.98.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.17. The firm had revenue of $542.45 million for the quarter, compared to analysts’ expectations of $516.80 million. Kennametal had a return on equity of 15.71% and a net margin of 5.18%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 EPS. sell-side analysts forecast that Kennametal Inc. will post 2.54 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Tuesday, November 14th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, November 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.76%. Kennametal’s dividend payout ratio (DPR) is 59.26%.

KMT has been the topic of several recent analyst reports. Zacks Investment Research lowered Kennametal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub lowered Kennametal from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. J P Morgan Chase & Co upgraded Kennametal from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $43.00 in a report on Thursday, August 17th. BMO Capital Markets restated a “hold” rating and set a $45.00 price objective on shares of Kennametal in a report on Wednesday, August 23rd. Finally, Jefferies Group restated a “buy” rating and set a $50.00 price objective on shares of Kennametal in a report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $45.23.

In other Kennametal news, Director Timothy R. Mclevish sold 7,000 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $47.00, for a total value of $329,000.00. Following the transaction, the director now directly owns 78,904 shares in the company, valued at approximately $3,708,488. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven H. Wunning sold 4,445 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $46.63, for a total value of $207,270.35. Following the completion of the transaction, the director now owns 29,693 shares in the company, valued at $1,384,584.59. The disclosure for this sale can be found here. Insiders have sold a total of 39,570 shares of company stock worth $1,856,345 in the last three months. 2.00% of the stock is currently owned by insiders.

TRADEMARK VIOLATION NOTICE: “State of Wisconsin Investment Board Buys New Position in Kennametal Inc. (NYSE:KMT)” was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://ledgergazette.com/2017/12/07/state-of-wisconsin-investment-board-acquires-shares-of-113500-kennametal-inc-kmt.html.

About Kennametal

Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.

Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

Receive News & Ratings for Kennametal Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply