12,271 Shares in Kennametal Inc. (NYSE:KMT) Bought by Ballentine Partners LLC

Ballentine Partners LLC acquired a new stake in Kennametal Inc. (NYSE:KMT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,271 shares of the industrial products company's stock, valued at approximately $261,000.

Several other hedge funds have also modified their holdings of KMT. SummerHaven Investment Management LLC grew its holdings in shares of Kennametal by 1.8% during the first quarter. SummerHaven Investment Management LLC now owns 34,150 shares of the industrial products company's stock worth $727,000 after purchasing an additional 600 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Kennametal by 1.8% during the fourth quarter. Sei Investments Co. now owns 34,614 shares of the industrial products company's stock worth $831,000 after purchasing an additional 609 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Kennametal by 10.5% during the fourth quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock worth $227,000 after purchasing an additional 898 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Kennametal by 2.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,294 shares of the industrial products company's stock worth $1,064,000 after purchasing an additional 934 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Kennametal by 107.6% during the first quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company's stock worth $42,000 after purchasing an additional 1,015 shares during the last quarter.

Analysts Set New Price Targets

KMT has been the topic of several research reports. Wall Street Zen raised Kennametal from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Barclays raised their price target on Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Loop Capital reissued a "hold" rating and set a $24.00 price target (up previously from $21.00) on shares of Kennametal in a report on Wednesday, June 25th. Finally, Morgan Stanley raised their price target on Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $25.40.

Kennametal Stock Performance

NYSE:KMT traded down $0.30 during mid-day trading on Friday, reaching $24.55. The stock had a trading volume of 613,356 shares, compared to its average volume of 942,072. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.10 and a current ratio of 2.44. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 3.37 and a beta of 1.40. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18. The business has a 50 day simple moving average of $22.60 and a 200 day simple moving average of $21.96.

Kennametal (NYSE:KMT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.21. The company had revenue of $486.40 million during the quarter, compared to the consensus estimate of $489.30 million. Kennametal had a net margin of 5.45% and a return on equity of 9.12%. The company's revenue for the quarter was down 5.7% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS. On average, analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.80 annualized dividend and a yield of 3.26%. Kennametal's dividend payout ratio (DPR) is presently 57.55%.

Kennametal 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.