Keybank National Association OH lessened its holdings in Kennametal Inc. (NYSE:KMT – Free Report) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,508 shares of the industrial products company’s stock after selling 665 shares during the quarter. Keybank National Association OH’s holdings in Kennametal were worth $428,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new stake in shares of Kennametal in the first quarter valued at about $30,000. Advisor Group Holdings Inc. lifted its position in Kennametal by 88.1% during the fourth quarter. Advisor Group Holdings Inc. now owns 1,621 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 759 shares during the period. Quadrant Capital Group LLC lifted its position in Kennametal by 67.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,389 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 966 shares during the period. Clear Street Markets LLC bought a new position in shares of Kennametal in the fourth quarter worth about $60,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Kennametal by 10.6% in the third quarter. Public Employees Retirement System of Ohio now owns 6,586 shares of the industrial products company’s stock valued at $136,000 after buying an additional 630 shares during the period.
Analyst Ratings Changes
A number of research firms have weighed in on KMT. StockNews.com started coverage on shares of Kennametal in a research report on Thursday, August 17th. They set a “buy” rating for the company. BMO Capital Markets increased their target price on Kennametal from $25.00 to $27.50 in a report on Monday, May 15th. Finally, Barclays raised their price objective on Kennametal from $27.00 to $28.00 in a research note on Monday, July 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Kennametal currently has a consensus rating of “Hold” and an average price target of $26.92.
Kennametal Stock Performance
NYSE:KMT opened at $26.08 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.37 and a quick ratio of 1.08. Kennametal Inc. has a 1-year low of $20.21 and a 1-year high of $30.60. The business has a 50 day moving average of $28.23 and a 200 day moving average of $27.45. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 2.91 and a beta of 1.89.
Kennametal (NYSE:KMT – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.08). The company had revenue of $550.20 million during the quarter, compared to the consensus estimate of $567.84 million. Kennametal had a net margin of 5.70% and a return on equity of 9.59%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. On average, sell-side analysts predict that Kennametal Inc. will post 1.81 earnings per share for the current fiscal year.
Kennametal Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 22nd. Stockholders of record on Tuesday, August 8th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Monday, August 7th. Kennametal’s payout ratio is presently 55.17%.
Kennametal Company Profile
Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.
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