Invesco Ltd. lifted its position in Kennametal Inc. (NYSE:KMT - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 426,083 shares of the industrial products company's stock after acquiring an additional 16,926 shares during the quarter. Invesco Ltd. owned approximately 0.55% of Kennametal worth $10,235,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the company. Brandes Investment Partners LP lifted its position in shares of Kennametal by 3.1% in the 4th quarter. Brandes Investment Partners LP now owns 2,573,638 shares of the industrial products company's stock valued at $61,819,000 after acquiring an additional 78,149 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Kennametal by 13.8% in the fourth quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company's stock worth $61,106,000 after acquiring an additional 308,000 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Kennametal during the fourth quarter worth $59,207,000. Geode Capital Management LLC raised its holdings in shares of Kennametal by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company's stock worth $47,096,000 after acquiring an additional 17,265 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Kennametal by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,479,599 shares of the industrial products company's stock worth $35,540,000 after acquiring an additional 56,104 shares in the last quarter.
Insider Transactions at Kennametal
In other news, CEO Sanjay Chowbey purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were purchased at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the purchase, the chief executive officer now directly owns 77,595 shares of the company's stock, valued at approximately $1,687,691.25. The trade was a 14.79 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.41% of the stock is currently owned by corporate insiders.
Kennametal Stock Down 0.5 %
NYSE KMT traded down $0.10 during trading on Monday, hitting $19.34. 794,307 shares of the company traded hands, compared to its average volume of 863,827. Kennametal Inc. has a 12 month low of $17.30 and a 12 month high of $32.18. The business has a fifty day simple moving average of $20.62 and a 200 day simple moving average of $23.83. 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 $1.50 billion, a P/E ratio of 15.85, a PEG ratio of 3.69 and a beta of 1.55.
Kennametal (NYSE:KMT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. As a group, sell-side analysts predict that Kennametal Inc. will post 1.17 EPS for the current year.
Kennametal Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a $0.20 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.14%. Kennametal's payout ratio is presently 65.57%.
Wall Street Analysts Forecast Growth
KMT has been the subject of several recent research reports. StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a report on Monday. Morgan Stanley cut their price objective on Kennametal from $24.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Barclays cut their price objective on Kennametal from $24.00 to $22.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $25.20.
Check Out Our Latest Stock Report 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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