Arizona State Retirement System increased its holdings in Kennametal Inc. (NYSE:KMT) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,928 shares of the industrial products company’s stock after acquiring an additional 954 shares during the quarter. Arizona State Retirement System owned approximately 0.07% of Kennametal worth $1,961,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Congress Asset Management Co. MA raised its stake in Kennametal by 3.3% in the 4th quarter. Congress Asset Management Co. MA now owns 57,572 shares of the industrial products company’s stock valued at $1,916,000 after purchasing an additional 1,845 shares during the last quarter. Bank of Montreal Can raised its stake in Kennametal by 4.0% in the 4th quarter. Bank of Montreal Can now owns 11,485 shares of the industrial products company’s stock valued at $382,000 after purchasing an additional 437 shares during the last quarter. Diversified Trust Co raised its stake in Kennametal by 2.5% in the 4th quarter. Diversified Trust Co now owns 30,354 shares of the industrial products company’s stock valued at $1,010,000 after purchasing an additional 744 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its stake in Kennametal by 822.5% in the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 346,951 shares of the industrial products company’s stock valued at $11,547,000 after purchasing an additional 309,340 shares during the last quarter. Finally, Bowling Portfolio Management LLC acquired a new position in Kennametal in the 4th quarter valued at about $1,063,000. 99.69% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Judith L. Bacchus sold 5,000 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $42.70, for a total transaction of $213,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michelle R. Keating sold 1,890 shares of the company’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $37.51, for a total transaction of $70,893.90. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
NYSE KMT opened at $37.59 on Thursday. Kennametal Inc. has a 12 month low of $30.32 and a 12 month high of $45.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.72 and a quick ratio of 1.31. The stock has a market cap of $3.02 billion, a PE ratio of 14.18, a P/E/G ratio of 1.21 and a beta of 2.05.
Kennametal (NYSE:KMT) last posted its quarterly earnings data on Monday, February 4th. The industrial products company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. Kennametal had a net margin of 9.50% and a return on equity of 19.73%. The company had revenue of $587.40 million during the quarter, compared to the consensus estimate of $606.76 million. During the same quarter in the prior year, the company posted $0.52 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that Kennametal Inc. will post 3.13 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Tuesday, February 12th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, February 11th. Kennametal’s dividend payout ratio is currently 30.19%.
Several research analysts recently weighed in on KMT shares. Zacks Investment Research raised shares of Kennametal from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Tuesday, November 13th. Barclays cut their target price on shares of Kennametal from $41.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, January 7th. ValuEngine raised shares of Kennametal from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. Finally, Bank of America cut their target price on shares of Kennametal from $40.00 to $35.00 and set an “underperform” rating for the company in a research note on Tuesday, November 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Kennametal has a consensus rating of “Hold” and an average price target of $46.10.
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Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.
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