Lazard Asset Management LLC increased its stake in Kennametal Inc. (NYSE:KMT - Free Report) by 43.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,086 shares of the industrial products company's stock after acquiring an additional 13,943 shares during the quarter. Lazard Asset Management LLC owned approximately 0.06% of Kennametal worth $1,106,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock worth $34,000 after acquiring an additional 716 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of Kennametal by 214.2% in the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock worth $51,000 after acquiring an additional 1,444 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of Kennametal by 801.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company's stock worth $59,000 after acquiring an additional 2,181 shares during the last quarter. KBC Group NV grew its holdings in shares of Kennametal by 50.3% in the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock worth $80,000 after acquiring an additional 1,122 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Kennametal by 10.5% in the 4th quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock worth $227,000 after acquiring an additional 898 shares during the last quarter.
Kennametal Stock Performance
Shares of KMT stock opened at $21.87 on Tuesday. Kennametal Inc. has a 1-year low of $17.30 and a 1-year high of $32.18. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 3.69 and a beta of 1.39. The stock's fifty day simple moving average is $20.25 and its 200-day simple moving average is $23.33.
Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.21. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The business had revenue of $486.40 million for the quarter, compared to the consensus estimate of $489.30 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. Kennametal's revenue for the quarter was down 5.7% compared to the same quarter last year. On average, sell-side analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.
Kennametal Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.66%. Kennametal's dividend payout ratio (DPR) is currently 57.55%.
Analysts Set New Price Targets
KMT has been the topic of a number of recent research reports. Barclays lifted their target price on Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a report on Friday. Finally, Morgan Stanley lifted their price target on Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $25.80.
Get Our Latest Report on KMT
Kennametal Company Profile
(
Free Report)
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.
Further Reading
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