151,463 Shares in Kennametal Inc. $KMT Purchased by Alps Advisors Inc.

Key Points

• Alps Advisors opened a position in Kennametal, buying 151,463 shares worth approximately $4.66 million, or about 0.20% of the company.
• Analyst sentiment is cautious: five analysts rate the stock Hold and four rate it Sell, with a consensus “Reduce” rating and a $33.07 price target.
• Kennametal reported quarterly EPS of $3.48, beating estimates of $2.65, while revenue of $768.19 million came in slightly below expectations. The company also declared a quarterly dividend of $0.20 per share.

Alps Advisors Inc. purchased a new position in shares of Kennametal Inc. (NYSE:KMT - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 151,463 shares of the industrial products company's stock, valued at approximately $4,656,000. Alps Advisors Inc. owned approximately 0.20% of Kennametal as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Allworth Financial LP acquired a new stake in Kennametal in the second quarter valued at $25,000. Rockefeller Capital Management L.P. lifted its stake in shares of Kennametal by 3,600.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 999 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 972 shares during the period. Nykredit A S acquired a new position in shares of Kennametal in the 2nd quarter valued at about $37,000. Integrated Wealth Concepts LLC bought a new stake in shares of Kennametal during the 2nd quarter valued at about $44,000. Finally, Signaturefd LLC boosted its position in shares of Kennametal by 377.7% during the 3rd quarter. Signaturefd LLC now owns 1,696 shares of the industrial products company's stock valued at $52,000 after purchasing an additional 1,341 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Zacks Research cut shares of Kennametal from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 14th. UBS Group cut their target price on Kennametal from $39.00 to $35.00 and set a "neutral" rating on the stock in a research report on Monday, August 10th. Morgan Stanley cut shares of Kennametal from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $31.00 to $27.00 in a research report on Monday, August 10th. Wall Street Zen downgraded shares of Kennametal from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, DA Davidson lowered their price objective on Kennametal from $34.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 11th. Five investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $33.07.

Kennametal Stock Performance

NYSE KMT opened at $23.06 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 3.45. The company has a fifty day moving average of $30.10 and a 200-day moving average of $34.42. Kennametal Inc. has a 52-week low of $22.65 and a 52-week high of $43.81. The company has a market capitalization of $1.78 billion, a P/E ratio of 3.04, a P/E/G ratio of 0.21 and a beta of 1.30.

Kennametal (NYSE:KMT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $3.48 EPS for the quarter, beating the consensus estimate of $2.65 by $0.83. The firm had revenue of $768.19 million for the quarter, compared to analyst estimates of $770.36 million. Kennametal had a return on equity of 38.40% and a net margin of 22.49%. The company's revenue was up 54.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 EPS. As a group, equities research analysts predict that Kennametal Inc. will post 5.18 EPS for the current fiscal year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, November 9th. Kennametal's dividend payout ratio is presently 10.55%.

Insider Activity at Kennametal

In other Kennametal news, VP Judith L. Bacchus sold 9,676 shares of the business's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $30.29, for a total value of $293,086.04. Following the transaction, the vice president owned 15,721 shares in the company, valued at approximately $476,189.09. The trade was a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Chowbey bought 7,000 shares of the firm's stock in a transaction that occurred on Thursday, November 5th. The shares were acquired at an average price of $23.62 per share, with a total value of $165,340.00. Following the acquisition, the chief executive officer owned 280,957 shares of the company's stock, valued at $6,636,204.34. This represents a 2.56% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.65% of the stock is owned by company insiders.

Kennametal Company Profile

Kennametal Inc NYSE: KMT is a global industrial technology company that develops and manufactures tooling, engineered components and wear-resistant solutions. Its products are designed to help customers improve productivity, durability and performance in demanding manufacturing and industrial applications.

The company's offerings include metal-cutting tools and systems, tooling components, advanced materials, and products made with hard metals and other wear-resistant technologies. Kennametal also provides engineered solutions for applications such as machining, earthworks, energy production, transportation, aerospace, defense and general engineering.

Founded in 1938 by Philip M.

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