Franklin Resources Inc. cut its position in Kennametal Inc. (NYSE:KMT) by 30.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,998,353 shares of the industrial products company’s stock after selling 864,253 shares during the quarter. Franklin Resources Inc. owned about 2.45% of Kennametal worth $96,740,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. boosted its stake in Kennametal by 6.4% in the 4th quarter. Eagle Asset Management Inc. now owns 331,220 shares of the industrial products company’s stock valued at $16,034,000 after purchasing an additional 19,831 shares during the period. American International Group Inc. boosted its stake in Kennametal by 0.6% in the 4th quarter. American International Group Inc. now owns 220,109 shares of the industrial products company’s stock valued at $10,655,000 after purchasing an additional 1,216 shares during the period. Legal & General Group Plc boosted its stake in Kennametal by 6.3% in the 3rd quarter. Legal & General Group Plc now owns 117,236 shares of the industrial products company’s stock valued at $4,727,000 after purchasing an additional 6,945 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Kennametal by 41.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,019 shares of the industrial products company’s stock valued at $243,000 after purchasing an additional 1,463 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in Kennametal in the 4th quarter valued at $6,074,000. Institutional investors and hedge funds own 99.18% of the company’s stock.
NYSE:KMT opened at $39.21 on Friday. The firm has a market cap of $3,249.07, a PE ratio of 25.80, a P/E/G ratio of 3.11 and a beta of 2.03. The company has a quick ratio of 1.52, a current ratio of 2.77 and a debt-to-equity ratio of 0.60. Kennametal Inc. has a fifty-two week low of $32.23 and a fifty-two week high of $52.52.
Kennametal (NYSE:KMT) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $0.52 earnings per share for the quarter, missing the 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 business had revenue of $571.00 million for the quarter, compared to the consensus estimate of $541.78 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. Kennametal’s quarterly revenue was up 17.0% compared to the same quarter last year. research analysts expect that Kennametal Inc. will post 2.57 earnings per share for the current year.
Several analysts recently issued reports on the company. KeyCorp restated a “buy” rating and issued a $56.00 price target on shares of Kennametal in a research note on Wednesday, January 10th. Jefferies Group restated a “buy” rating and issued a $60.00 price target on shares of Kennametal in a research note on Thursday, January 18th. ValuEngine upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research downgraded Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, Bank of America upped their target price on Kennametal from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The stock has an average 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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