Voya Investment Management LLC grew its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 191,950 shares of the industrial products company's stock after acquiring an additional 22,092 shares during the quarter. Voya Investment Management LLC owned about 0.25% of Kennametal worth $4,611,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership boosted its holdings in 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 position in shares of Kennametal during the 4th quarter valued at $373,000. GAMMA Investing LLC boosted its stake in shares of Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock worth $35,000 after buying an additional 459 shares during the last quarter. AMH Equity Ltd bought a new stake in shares of Kennametal in the fourth quarter worth $1,441,000. Finally, Amundi increased its position in Kennametal by 174.7% during the fourth quarter. Amundi now owns 40,359 shares of the industrial products company's stock valued at $982,000 after acquiring an additional 25,666 shares during the last quarter.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on KMT. StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. Morgan Stanley cut their target price on shares of Kennametal from $24.00 to $20.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Barclays decreased their price target on shares of Kennametal from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $25.20.
Get Our Latest Stock Analysis on KMT
Kennametal Stock Performance
Shares of NYSE:KMT traded down $0.18 during mid-day trading on Tuesday, reaching $19.78. 61,204 shares of the company traded hands, compared to its average volume of 862,237. Kennametal Inc. has a 52 week low of $17.30 and a 52 week high of $32.18. The firm has a market cap of $1.53 billion, a PE ratio of 16.21, a PEG ratio of 3.69 and a beta of 1.39. The company's 50 day moving average price is $20.36 and its 200-day moving average price is $23.62. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13.
Kennametal (NYSE:KMT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share 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%. On average, equities analysts expect that Kennametal Inc. will post 1.17 EPS for the current fiscal year.
Kennametal Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Tuesday, May 13th. Kennametal's dividend payout ratio (DPR) is presently 65.57%.
Insider Activity
In related news, CEO Sanjay Chowbey purchased 10,000 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the transaction, the chief executive officer now owns 77,595 shares in the company, valued at approximately $1,687,691.25. The trade was a 14.79 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.41% of the company's stock.
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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