Russell Investments Group Ltd. grew its holdings in Kennametal Inc. (NYSE:KMT) by 204.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 474,737 shares of the industrial products company’s stock after buying an additional 318,758 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.57% of Kennametal worth $8,833,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KMT. Thrivent Financial for Lutherans lifted its holdings in Kennametal by 9,771.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,113,559 shares of the industrial products company’s stock worth $77,969,000 after buying an additional 2,092,149 shares during the period. Ceredex Value Advisors LLC lifted its stake in shares of Kennametal by 156.1% in the 4th quarter. Ceredex Value Advisors LLC now owns 1,792,950 shares of the industrial products company’s stock valued at $66,142,000 after purchasing an additional 1,092,900 shares during the period. Norges Bank purchased a new position in shares of Kennametal in the 4th quarter valued at approximately $36,365,000. Deprince Race & Zollo Inc. lifted its stake in shares of Kennametal by 248.4% in the 1st quarter. Deprince Race & Zollo Inc. now owns 1,120,270 shares of the industrial products company’s stock valued at $20,859,000 after purchasing an additional 798,756 shares during the period. Finally, FMR LLC lifted its stake in shares of Kennametal by 260,034.3% in the 4th quarter. FMR LLC now owns 743,984 shares of the industrial products company’s stock valued at $27,445,000 after purchasing an additional 743,698 shares during the period. Institutional investors and hedge funds own 96.00% of the company’s stock.
A number of research analysts have recently commented on the company. Barclays restated a “buy” rating and issued a $27.00 target price on shares of Kennametal in a research note on Sunday, March 22nd. Wells Fargo & Co lowered their target price on Kennametal from $37.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Bank of America lowered their target price on Kennametal from $27.00 to $25.00 and set an “underperform” rating for the company in a research note on Tuesday, February 4th. KeyCorp lowered their target price on Kennametal from $42.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Finally, UBS Group lowered their target price on Kennametal from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $29.63.
Shares of NYSE:KMT opened at $25.81 on Friday. The stock has a fifty day simple moving average of $22.70 and a two-hundred day simple moving average of $29.33. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 5.62 and a beta of 2.38. Kennametal Inc. has a 12-month low of $14.45 and a 12-month high of $38.73. The company has a current ratio of 2.52, a quick ratio of 1.17 and a debt-to-equity ratio of 0.48.
Kennametal (NYSE:KMT) last announced its quarterly earnings data on Monday, May 4th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.14. The business had revenue of $483.10 million during the quarter, compared to analysts’ expectations of $503.23 million. Kennametal had a return on equity of 10.16% and a net margin of 3.10%. The firm’s quarterly revenue was down 19.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. As a group, equities research analysts predict that Kennametal Inc. will post 0.92 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Tuesday, May 12th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Monday, May 11th. Kennametal’s payout ratio is 26.49%.
Kennametal Company Profile
Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.
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