Ceredex Value Advisors LLC Takes Position in Kennametal (KMT)

Ceredex Value Advisors LLC purchased a new position in Kennametal (NYSE:KMT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 152,942 shares of the industrial products company’s stock, valued at approximately $6,142,000.

Several other institutional investors also recently bought and sold shares of the company. American International Group Inc. boosted its holdings in shares of Kennametal by 0.6% in the fourth quarter. American International Group Inc. now owns 220,109 shares of the industrial products company’s stock worth $10,655,000 after acquiring an additional 1,216 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Kennametal by 41.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,019 shares of the industrial products company’s stock worth $243,000 after acquiring an additional 1,463 shares during the period. First Mercantile Trust Co. boosted its holdings in shares of Kennametal by 25.7% in the first quarter. First Mercantile Trust Co. now owns 7,271 shares of the industrial products company’s stock worth $292,000 after acquiring an additional 1,488 shares during the period. Strs Ohio boosted its holdings in shares of Kennametal by 23.5% in the fourth quarter. Strs Ohio now owns 10,500 shares of the industrial products company’s stock worth $508,000 after acquiring an additional 2,000 shares during the period. Finally, D.A. Davidson & CO. boosted its holdings in shares of Kennametal by 40.0% in the first quarter. D.A. Davidson & CO. now owns 7,000 shares of the industrial products company’s stock worth $281,000 after acquiring an additional 2,000 shares during the period. 98.61% of the stock is owned by hedge funds and other institutional investors.

Kennametal opened at $39.64 on Monday, according to MarketBeat.com. Kennametal has a twelve month low of $32.23 and a twelve month high of $52.52. The company has a current ratio of 2.60, a quick ratio of 1.47 and a debt-to-equity ratio of 0.57. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 3.05 and a beta of 2.05.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, May 2nd. The industrial products company reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.02). Kennametal had a net margin of 6.83% and a return on equity of 17.01%. The firm had revenue of $607.94 million for the quarter, compared to analysts’ expectations of $601.10 million. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. analysts predict that Kennametal will post 2.6 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 30th. Shareholders of record on Tuesday, May 15th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, May 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.02%. Kennametal’s payout ratio is 52.63%.

Several research firms recently issued reports on KMT. ValuEngine raised Kennametal from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research lowered Kennametal from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Bank of America lifted their price objective on Kennametal from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. JPMorgan Chase lowered Kennametal from an “overweight” rating to a “neutral” rating in a research note on Monday, February 5th. Finally, Stifel Nicolaus lifted their price objective on Kennametal from $50.00 to $52.00 and gave the company a “hold” rating in a research note on Sunday, February 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $49.18.

About Kennametal

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. It operates through three segments: Industrial, Widia, and Infrastructure.

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Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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