Northern Trust Corp Purchases 63,770 Shares of Kennametal Inc. (NYSE:KMT)

Northern Trust Corp boosted its position in Kennametal Inc. (NYSE:KMT - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 993,716 shares of the industrial products company's stock after acquiring an additional 63,770 shares during the period. Northern Trust Corp owned 1.28% of Kennametal worth $23,869,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of KMT. Arrowstreet Capital Limited Partnership grew its stake 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 worth $11,270,000 after purchasing an additional 115,718 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Kennametal in the 4th quarter worth approximately $373,000. GAMMA Investing LLC increased its stake 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 valued at $35,000 after buying an additional 459 shares during the period. AMH Equity Ltd bought a new stake in Kennametal in the fourth quarter valued at $1,441,000. Finally, Amundi increased its position in Kennametal by 174.7% during the 4th quarter. Amundi now owns 40,359 shares of the industrial products company's stock valued at $982,000 after purchasing an additional 25,666 shares during the period.

Wall Street Analyst Weigh In

Several research firms have recently commented on KMT. Barclays raised their target price on shares of Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday. StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a report on Friday. Finally, Morgan Stanley increased their target price on Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $25.80.

Kennametal Stock Up 1.6%

Shares of NYSE KMT traded up $0.35 on Friday, reaching $21.87. 773,688 shares of the company's stock traded hands, compared to its average volume of 872,985. The business's 50 day simple moving average is $20.24 and its two-hundred day simple moving average is $23.41. Kennametal Inc. has a 12 month low of $17.30 and a 12 month high of $32.18. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.21. The business had revenue of $486.40 million during the quarter, compared to analysts' expectations of $489.30 million. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. As a group, equities research analysts forecast that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued 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 payout ratio is currently 57.55%.

Kennametal Company Profile

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.