Uncommon Cents Investing LLC acquired a new position in shares of Kennametal Inc. (NYSE:KMT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,555 shares of the industrial products company’s stock, valued at approximately $417,000.
A number of other hedge funds have also recently modified their holdings of KMT. Voya Investment Management LLC raised its holdings in Kennametal by 28.1% during the second quarter. Voya Investment Management LLC now owns 35,940 shares of the industrial products company’s stock worth $1,345,000 after purchasing an additional 7,874 shares during the last quarter. Stifel Financial Corp acquired a new position in Kennametal during the second quarter worth $295,000. Royal Bank of Canada raised its holdings in Kennametal by 43.2% during the second quarter. Royal Bank of Canada now owns 26,814 shares of the industrial products company’s stock worth $1,005,000 after purchasing an additional 8,090 shares during the last quarter. Macquarie Group Ltd. acquired a new position in Kennametal during the second quarter worth $1,437,000. Finally, State Street Corp raised its holdings in Kennametal by 4.4% during the second quarter. State Street Corp now owns 2,653,399 shares of the industrial products company’s stock worth $99,287,000 after purchasing an additional 112,547 shares during the last quarter. 98.70% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the company. KeyCorp reaffirmed a “buy” rating and set a $56.00 price objective on shares of Kennametal in a report on Wednesday, January 10th. Jefferies Group reaffirmed a “buy” rating and set a $60.00 price objective on shares of Kennametal in a report on Thursday, January 18th. ValuEngine raised Kennametal from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research cut Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Finally, Bank of America lifted their price objective on Kennametal from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $49.95.
Kennametal Inc. (NYSE KMT) opened at $44.25 on Monday. Kennametal Inc. has a 1-year low of $32.23 and a 1-year high of $52.52. The firm has a market capitalization of $3,609.62, a price-to-earnings ratio of 19.84, a PEG ratio of 2.07 and a beta of 1.95. 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 (NYSE:KMT) last released 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). Kennametal had a return on equity of 17.09% and a net margin of 6.54%. The company had revenue of $571.00 million during the quarter, compared to analyst estimates of $541.78 million. During the same period last year, the firm earned $0.24 earnings per share. The business’s revenue was up 17.0% compared to the same quarter last year. equities research analysts anticipate that Kennametal Inc. will post 2.57 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 13th will be issued a $0.20 dividend. The ex-dividend date is Monday, February 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.81%. Kennametal’s dividend payout ratio (DPR) is 45.45%.
In other news, Director Timothy R. Mclevish sold 20,000 shares of Kennametal stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $48.00, for a total value of $960,000.00. Following the completion of the sale, the director now owns 66,904 shares of the company’s stock, valued at $3,211,392. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Judith L. Bacchus sold 18,125 shares of Kennametal stock in a transaction on Monday, December 4th. The shares were sold at an average price of $47.00, for a total value of $851,875.00. Following the completion of the sale, the vice president now directly owns 38,528 shares of the company’s stock, valued at approximately $1,810,816. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,125 shares of company stock valued at $2,140,875. Insiders own 2.00% of the company’s stock.
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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