Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Kennametal Inc. (NYSE:KMT) by 41.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,019 shares of the industrial products company’s stock after purchasing an additional 1,463 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kennametal were worth $243,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortaleza Asset Management Inc. acquired a new stake in Kennametal in the 3rd quarter worth $115,000. Hartford Investment Management Co. acquired a new stake in Kennametal in the 3rd quarter worth $202,000. Trexquant Investment LP acquired a new stake in Kennametal in the 3rd quarter worth $207,000. World Asset Management Inc acquired a new stake in Kennametal in the 3rd quarter worth $207,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Kennametal in the 3rd quarter worth $234,000. Institutional investors own 98.70% of the company’s stock.
In related news, VP Judith L. Bacchus sold 18,125 shares of Kennametal stock in a transaction dated 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 transaction, the vice president now directly owns 38,528 shares of the company’s stock, valued at approximately $1,810,816. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy R. Mclevish sold 7,000 shares of Kennametal stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $47.00, for a total transaction of $329,000.00. Following the transaction, the director now directly owns 78,904 shares of the company’s stock, valued at $3,708,488. The disclosure for this sale can be found here. Insiders have sold a total of 45,125 shares of company stock valued at $2,140,875 over the last three months. 2.00% of the stock is currently owned by insiders.
Several analysts have issued reports on the stock. Bank of America raised their price target on shares of Kennametal from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. ValuEngine lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. TheStreet upgraded shares of Kennametal from a “c+” rating to a “b” rating in a research report on Thursday, November 2nd. Credit Suisse Group raised their price target on shares of Kennametal from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Finally, BMO Capital Markets raised their price objective on shares of Kennametal from $45.00 to $52.00 and gave the stock a “market perform” rating in a report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $49.95.
Kennametal Inc. (KMT) opened at $43.49 on Wednesday. The company has a market cap of $3,609.62, a PE ratio of 24.71, a PEG ratio of 2.07 and a beta of 1.95. Kennametal Inc. has a 1-year low of $32.23 and a 1-year high of $52.52. The company has a current ratio of 2.77, a quick ratio of 1.52 and a debt-to-equity ratio of 0.60.
Kennametal (NYSE:KMT) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Kennametal had a return on equity of 17.09% and a net margin of 6.54%. The business had revenue of $571.00 million for the quarter, compared to the consensus estimate of $541.78 million. During the same period in the previous year, the business posted $0.24 earnings per share. Kennametal’s revenue was up 17.0% on a year-over-year basis. research analysts anticipate that Kennametal Inc. will post 2.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Tuesday, February 13th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.84%. The ex-dividend date is Monday, February 12th. Kennametal’s dividend payout ratio is currently 45.45%.
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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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