Teachers Advisors LLC reduced its stake in Kennametal Inc. (NYSE:KMT) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 772,773 shares of the industrial products company’s stock after selling 40,409 shares during the period. Teachers Advisors LLC owned approximately 0.95% of Kennametal worth $37,410,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Two Sigma Investments LP boosted its position in shares of Kennametal by 57.0% during the fourth quarter. Two Sigma Investments LP now owns 68,706 shares of the industrial products company’s stock valued at $3,326,000 after buying an additional 24,944 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Kennametal by 27.6% during the fourth quarter. Deutsche Bank AG now owns 1,178,576 shares of the industrial products company’s stock valued at $57,052,000 after buying an additional 255,176 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its position in shares of Kennametal by 7.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,966,940 shares of the industrial products company’s stock valued at $143,630,000 after buying an additional 208,677 shares during the last quarter. Shellback Capital LP boosted its position in shares of Kennametal by 21.5% during the fourth quarter. Shellback Capital LP now owns 319,117 shares of the industrial products company’s stock valued at $15,448,000 after buying an additional 56,420 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Kennametal during the fourth quarter valued at $5,075,000. 99.18% of the stock is currently owned by hedge funds and other institutional investors.
KMT stock opened at $43.13 on Wednesday. The stock has a market capitalization of $3,503.58, a PE ratio of 24.51, a price-to-earnings-growth ratio of 3.35 and a beta of 2.01. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.77 and a quick ratio of 1.52. Kennametal Inc. has a 12-month low of $32.23 and a 12-month high of $52.52.
Kennametal (NYSE:KMT) last announced its earnings results on Thursday, February 1st. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $571.00 million during the quarter, compared to analysts’ expectations of $541.78 million. Kennametal had a return on equity of 17.09% and a net margin of 6.54%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 earnings per share. equities analysts anticipate that Kennametal Inc. will post 2.57 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 13th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.80 annualized dividend and a yield of 1.85%. Kennametal’s payout ratio is 45.45%.
Several research firms recently commented on KMT. KeyCorp reaffirmed a “buy” rating and set a $56.00 price objective on shares of Kennametal in a research report on Wednesday, January 10th. Jefferies Group reaffirmed a “buy” rating and set a $60.00 price objective on shares of Kennametal in a research report on Thursday, January 18th. ValuEngine raised Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research cut Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, Bank of America raised their target price on Kennametal from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Kennametal has a consensus rating of “Hold” and an average price target of $49.95.
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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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