Canada Pension Plan Investment Board Decreases Holdings in Kennametal Inc. (KMT)

Canada Pension Plan Investment Board lowered its position in Kennametal Inc. (NYSE:KMT) by 2.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 207,000 shares of the industrial products company’s stock after selling 4,700 shares during the period. Canada Pension Plan Investment Board owned 0.26% of Kennametal worth $8,350,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KMT. Janus Henderson Group PLC purchased a new position in Kennametal in the 2nd quarter valued at $76,161,000. Vanguard Group Inc. increased its stake in shares of Kennametal by 18.0% in the 2nd quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock worth $310,219,000 after acquiring an additional 1,263,163 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Kennametal by 69.6% in the 2nd quarter. American Century Companies Inc. now owns 1,709,479 shares of the industrial products company’s stock worth $63,969,000 after acquiring an additional 701,783 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Kennametal by 48.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,543,511 shares of the industrial products company’s stock worth $57,758,000 after acquiring an additional 501,090 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Kennametal by 131.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 841,647 shares of the industrial products company’s stock worth $31,494,000 after acquiring an additional 478,446 shares during the last quarter. Institutional investors own 96.75% of the company’s stock.

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In other Kennametal news, Director Steven H. Wunning sold 4,445 shares of Kennametal 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 directly owns 29,693 shares of the company’s stock, valued at approximately $1,384,584.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Charles Michael Jr. Byrnes bought 1,900 shares of the company’s stock in a transaction on Friday, August 18th. The stock was purchased at an average cost of $33.00 per share, with a total value of $62,700.00. The disclosure for this purchase can be found here. Insiders have sold a total of 15,015 shares of company stock valued at $695,563 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Shares of Kennametal Inc. (KMT) opened at $44.06 on Friday. The company has a current ratio of 2.71, a quick ratio of 1.41 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $3,570.97, a PE ratio of 22.59, a P/E/G ratio of 2.09 and a beta of 1.96. Kennametal Inc. has a 52-week low of $31.12 and a 52-week high of $48.89.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.17. The firm had revenue of $542.45 million during the quarter, compared to the consensus estimate of $516.80 million. Kennametal had a return on equity of 15.71% and a net margin of 5.18%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the company earned $0.11 EPS. analysts predict that Kennametal Inc. will post 2.54 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Tuesday, November 14th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, November 13th. Kennametal’s payout ratio is 59.26%.

A number of analysts have issued reports on the company. Jefferies Group LLC raised their target price on Kennametal from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. TheStreet raised Kennametal from a “c+” rating to a “b” rating in a research note on Thursday, November 2nd. BidaskClub downgraded Kennametal from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Zacks Investment Research downgraded Kennametal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Kennametal in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $45.23.

Kennametal 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.

Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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