Ballentine Partners LLC Invests $261,000 in Kennametal Inc. (NYSE:KMT)

Ballentine Partners LLC bought a new position in shares of Kennametal Inc. (NYSE:KMT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 12,271 shares of the industrial products company's stock, valued at approximately $261,000.

A number of other large investors have also modified their holdings of the business. American Century Companies Inc. grew its stake in Kennametal by 13.8% during the 4th quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company's stock valued at $61,106,000 after acquiring an additional 308,000 shares in the last quarter. Norges Bank purchased a new stake in shares of Kennametal in the fourth quarter valued at approximately $5,543,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Kennametal by 32.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company's stock valued at $11,270,000 after purchasing an additional 115,718 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Kennametal by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company's stock worth $123,319,000 after buying an additional 101,159 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Kennametal by 29.4% during the fourth quarter. JPMorgan Chase & Co. now owns 313,785 shares of the industrial products company's stock worth $7,537,000 after buying an additional 71,346 shares during the last quarter.

Kennametal Trading Down 1.2%

Shares of KMT stock traded down $0.30 during trading hours on Friday, hitting $24.55. The company had a trading volume of 612,855 shares, compared to its average volume of 939,280. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.10. The stock has a market capitalization of $1.87 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 3.34 and a beta of 1.40. The company's fifty day moving average is $22.52 and its 200 day moving average is $21.98. Kennametal Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $32.18.

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

Kennametal Dividend Announcement

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

Wall Street Analyst Weigh In

KMT has been the topic of several analyst reports. Loop Capital reiterated 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. Wall Street Zen raised shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Barclays lifted their price target on shares of Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Finally, Morgan Stanley increased their price objective on Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $25.40.

About Kennametal

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.