Jane Street Group LLC decreased its position in Kennametal Inc. (NYSE:KMT - Free Report) by 13.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,996 shares of the industrial products company's stock after selling 26,155 shares during the quarter. Jane Street Group LLC owned 0.21% of Kennametal worth $3,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of KMT. Barclays PLC lifted its holdings in shares of Kennametal by 95.6% in the 3rd quarter. Barclays PLC now owns 163,670 shares of the industrial products company's stock worth $4,244,000 after acquiring an additional 79,992 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Kennametal in the 3rd quarter valued at about $30,000. JPMorgan Chase & Co. grew its holdings in shares of Kennametal by 48.8% in the third quarter. JPMorgan Chase & Co. now owns 242,439 shares of the industrial products company's stock worth $6,286,000 after purchasing an additional 79,547 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock worth $35,000 after purchasing an additional 459 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in Kennametal by 20.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 16,717 shares of the industrial products company's stock valued at $402,000 after purchasing an additional 2,841 shares during the last quarter.
Kennametal Stock Down 1.9%
NYSE:KMT traded down $0.41 during trading hours on Wednesday, reaching $21.75. 1,102,553 shares of the company traded hands, compared to its average volume of 872,161. 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 business's 50-day moving average price is $20.26 and its two-hundred day moving average price is $23.45. Kennametal Inc. has a 1 year low of $17.30 and a 1 year high of $32.18. The stock has a market capitalization of $1.66 billion, a P/E ratio of 17.83, a P/E/G ratio of 3.69 and a beta of 1.39.
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, topping the consensus estimate of $0.26 by $0.21. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The firm had revenue of $486.40 million during the quarter, compared to analyst estimates of $489.30 million. During the same quarter in the previous year, the firm earned $0.30 EPS. Kennametal's quarterly revenue was down 5.7% compared to the same quarter last year. Analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current year.
Kennametal Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.80 annualized dividend and a yield of 3.68%. Kennametal's dividend payout ratio (DPR) is presently 57.55%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on KMT shares. Barclays lifted their price objective on Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday. Morgan Stanley boosted their target price on shares of Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Monday. Finally, StockNews.com upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. 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. Based on data from MarketBeat.com, Kennametal presently has a consensus rating of "Hold" and a consensus price target of $25.80.
Get Our Latest Analysis on Kennametal
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.
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