Xact Kapitalforvaltning AB purchased a new stake in shares of Kennametal Inc. (NYSE:KMT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,774 shares of the industrial products company’s stock, valued at approximately $376,000.
A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Kennametal by 1.8% during the 4th quarter. BlackRock Inc. now owns 8,524,732 shares of the industrial products company’s stock valued at $412,683,000 after buying an additional 150,707 shares during the period. ArrowMark Colorado Holdings LLC raised its holdings in Kennametal by 7.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,966,940 shares of the industrial products company’s stock valued at $143,630,000 after buying an additional 208,677 shares during the period. Alliancebernstein L.P. raised its holdings in Kennametal by 3.0% during the 4th quarter. Alliancebernstein L.P. now owns 2,612,672 shares of the industrial products company’s stock valued at $126,479,000 after buying an additional 75,468 shares during the period. Janus Henderson Group PLC raised its holdings in Kennametal by 23.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,509,518 shares of the industrial products company’s stock valued at $101,234,000 after buying an additional 474,225 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Kennametal by 39.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,719,336 shares of the industrial products company’s stock valued at $83,234,000 after buying an additional 487,255 shares during the period. Institutional investors own 99.18% of the company’s stock.
KMT stock opened at $39.21 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.52 and a current ratio of 2.77. Kennametal Inc. has a twelve month low of $32.23 and a twelve month high of $52.52. The firm has a market capitalization of $3,198.48, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 3.06 and a beta of 2.03.
Kennametal (NYSE:KMT) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.52 earnings per share (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 firm 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 company posted $0.24 EPS. Kennametal’s quarterly revenue was up 17.0% compared to the same quarter last year. sell-side analysts predict that Kennametal Inc. will post 2.57 earnings per share for the current fiscal year.
Several analysts recently weighed in on the company. Bank of America increased their price target on Kennametal from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. ValuEngine upgraded Kennametal from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BMO Capital Markets increased their target price on Kennametal from $45.00 to $52.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 13th. Zacks Investment Research lowered Kennametal from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Barclays started coverage on Kennametal in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $47.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $49.95.
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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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