Bailard Inc. purchased a new position in shares of Kennametal Inc. (NYSE:KMT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,300 shares of the industrial products company’s stock, valued at approximately $983,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Voya Investment Management LLC boosted its holdings in shares of Kennametal by 28.1% in the 2nd quarter. Voya Investment Management LLC now owns 35,940 shares of the industrial products company’s stock valued at $1,345,000 after buying an additional 7,874 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Kennametal in the 2nd quarter valued at $295,000. Royal Bank of Canada boosted its holdings in shares of Kennametal by 43.2% in the 2nd quarter. Royal Bank of Canada now owns 26,814 shares of the industrial products company’s stock valued at $1,005,000 after buying an additional 8,090 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of Kennametal in the 2nd quarter valued at $1,437,000. Finally, State Street Corp boosted its holdings in shares of Kennametal by 4.4% in the 2nd quarter. State Street Corp now owns 2,653,399 shares of the industrial products company’s stock valued at $99,287,000 after buying an additional 112,547 shares in the last quarter. Institutional investors own 98.47% of the company’s stock.
Several research analysts have recently issued reports on KMT shares. Jefferies Group restated a “buy” rating and issued a $50.00 target price on shares of Kennametal in a report on Friday, October 20th. Stifel Nicolaus upped their target price on shares of Kennametal from $50.00 to $52.00 and gave the company a “hold” rating in a report on Sunday, February 4th. KeyCorp restated a “buy” rating and issued a $56.00 target price on shares of Kennametal in a report on Wednesday, January 10th. Barrington Research restated an “outperform” rating and issued a $53.00 target price on shares of Kennametal in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. cut shares of Kennametal from an “overweight” rating to a “neutral” rating in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Kennametal has an average rating of “Hold” and a consensus price target of $49.95.
Shares of Kennametal Inc. (NYSE KMT) opened at $44.25 on Friday. The firm has a market cap of $3,580.00, a price-to-earnings ratio of 24.45, a P/E/G ratio of 2.05 and a beta of 1.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.52 and a current ratio of 2.77. Kennametal Inc. has a 52 week low of $32.23 and a 52 week high of $52.52.
Kennametal (NYSE:KMT) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.03). The business had revenue of $571.00 million for the quarter, compared to analyst estimates of $541.78 million. Kennametal had a return on equity of 17.09% and a net margin of 6.54%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. analysts forecast that Kennametal Inc. will post 2.57 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Tuesday, February 13th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Monday, February 12th. Kennametal’s dividend payout ratio is currently 44.20%.
In related news, VP Judith L. Bacchus sold 18,125 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $47.00, for a total transaction of $851,875.00. Following the completion of the sale, the vice president now owns 38,528 shares in the company, valued at approximately $1,810,816. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy R. Mclevish sold 20,000 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $48.00, for a total transaction of $960,000.00. Following the sale, the director now owns 66,904 shares of the company’s stock, valued at approximately $3,211,392. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,125 shares of company stock valued at $2,140,875. 2.00% of the stock is owned by company insiders.
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Kennametal Company Profile
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.
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