Rhumbline Advisers decreased its position in Kennametal Inc. (NYSE:KMT - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 233,299 shares of the industrial products company's stock after selling 31,942 shares during the quarter. Rhumbline Advisers owned 0.30% of Kennametal worth $4,969,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Legato Capital Management LLC lifted its position in Kennametal by 42.3% during the 4th quarter. Legato Capital Management LLC now owns 64,860 shares of the industrial products company's stock worth $1,558,000 after buying an additional 19,285 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Kennametal by 2.6% in the 4th quarter. Principal Financial Group Inc. now owns 376,943 shares of the industrial products company's stock valued at $9,054,000 after acquiring an additional 9,630 shares during the last quarter. Sanctuary Advisors LLC increased its stake in Kennametal by 5.7% during the 4th quarter. Sanctuary Advisors LLC now owns 23,671 shares of the industrial products company's stock worth $574,000 after purchasing an additional 1,269 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in Kennametal by 4.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 44,372 shares of the industrial products company's stock worth $1,066,000 after purchasing an additional 1,750 shares in the last quarter. Finally, AMH Equity Ltd bought a new stake in Kennametal during the 4th quarter worth approximately $1,441,000.
Kennametal Price Performance
KMT stock traded down $0.41 during mid-day trading on Friday, hitting $21.85. The stock had a trading volume of 689,229 shares, compared to its average volume of 896,053. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. Kennametal Inc. has a 52 week low of $17.30 and a 52 week high of $32.18. The firm has a market capitalization of $1.67 billion, a P/E ratio of 17.91, a P/E/G ratio of 3.69 and a beta of 1.40. The firm has a fifty day simple moving average of $20.51 and a 200 day simple moving average of $22.49.
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 for the quarter, beating analysts' consensus estimates of $0.26 by $0.21. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The company had revenue of $486.40 million for the quarter, compared to the consensus estimate of $489.30 million. During the same period last year, the company posted $0.30 EPS. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, research analysts forecast that Kennametal Inc. will post 1.17 EPS for the current year.
Kennametal Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were paid a $0.20 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.66%. Kennametal's payout ratio is currently 57.55%.
Analyst Ratings Changes
Several brokerages recently commented on KMT. Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Morgan Stanley raised their target price on shares of Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Finally, Barclays raised their price target on shares of Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Kennametal presently has a consensus rating of "Hold" and a consensus target price of $25.80.
Check Out Our Latest Stock Analysis on Kennametal
About Kennametal
(
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.
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