Voya Investment Management LLC grew its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 13.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 191,950 shares of the industrial products company's stock after acquiring an additional 22,092 shares during the period. Voya Investment Management LLC owned about 0.25% of Kennametal worth $4,611,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kennametal in the 3rd quarter worth $30,000. Blue Trust Inc. lifted its stake in Kennametal by 120.9% in the fourth 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 period. GAMMA Investing LLC increased its position in Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 459 shares during the period. Headlands Technologies LLC raised 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 valued at $51,000 after purchasing an additional 1,444 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position 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 purchasing an additional 2,181 shares during the period.
Kennametal Stock Down 0.1 %
NYSE:KMT traded down $0.02 during mid-day trading on Monday, hitting $20.10. 250,344 shares of the company's stock traded hands, compared to its average volume of 863,978. The company has a fifty day moving average of $20.41 and a 200 day moving average of $23.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18. The company has a market capitalization of $1.55 billion, a P/E ratio of 16.48, 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 data on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. On average, analysts forecast that Kennametal Inc. will post 1.17 EPS for the current year.
Kennametal Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.20 per share. 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 3.98%. Kennametal's dividend payout ratio is currently 65.57%.
Insider Buying and Selling at Kennametal
In related news, CEO Sanjay Chowbey bought 10,000 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The shares were purchased at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 77,595 shares in the company, valued at approximately $1,687,691.25. The trade was a 14.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.41% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. StockNews.com raised shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. Morgan Stanley decreased their price objective on Kennametal from $24.00 to $20.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Barclays cut their target price on Kennametal from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Kennametal currently has a consensus rating of "Hold" and an average price target of $25.20.
Get 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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