RMB Capital Management LLC grew its stake in Kennametal Inc. (NYSE:KMT) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,825 shares of the industrial products company’s stock after purchasing an additional 2,543 shares during the period. RMB Capital Management LLC owned about 0.10% of Kennametal worth $2,790,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. American International Group Inc. boosted its stake in shares of Kennametal by 0.4% in the 4th quarter. American International Group Inc. now owns 219,511 shares of the industrial products company’s stock valued at $7,305,000 after purchasing an additional 957 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Kennametal by 12.4% in the 4th quarter. Geode Capital Management LLC now owns 897,794 shares of the industrial products company’s stock valued at $29,878,000 after purchasing an additional 99,386 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of Kennametal in the 4th quarter valued at approximately $44,000. California State Teachers Retirement System boosted its stake in shares of Kennametal by 2.3% in the 4th quarter. California State Teachers Retirement System now owns 127,543 shares of the industrial products company’s stock valued at $4,245,000 after purchasing an additional 2,877 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Kennametal by 7.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,520,588 shares of the industrial products company’s stock valued at $83,884,000 after purchasing an additional 177,905 shares in the last quarter. Institutional investors own 98.67% of the company’s stock.
KMT has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Kennametal from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. ValuEngine downgraded shares of Kennametal from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Finally, Barclays cut their target price on shares of Kennametal from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, January 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $46.10.
In other news, VP Michelle R. Keating sold 1,890 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $37.51, for a total value of $70,893.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Peter A. Dragich sold 35,346 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $38.59, for a total transaction of $1,364,002.14. The disclosure for this sale can be found here. Insiders sold a total of 39,501 shares of company stock worth $1,520,807 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.
NYSE:KMT opened at $36.26 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.31 and a current ratio of 2.72. Kennametal Inc. has a one year low of $30.32 and a one year high of $45.10. The company has a market cap of $3.03 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 1.22 and a beta of 2.07.
Kennametal (NYSE:KMT) last posted its earnings results on Monday, February 4th. The industrial products company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.68 by $0.03. Kennametal had a net margin of 9.50% and a return on equity of 19.73%. The business had revenue of $587.40 million for the quarter, compared to the consensus estimate of $606.76 million. During the same period last year, the company earned $0.52 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that Kennametal Inc. will post 3.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 26th. Stockholders of record on Tuesday, February 12th were given a $0.20 dividend. The ex-dividend date was Monday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.21%. Kennametal’s dividend payout ratio (DPR) is currently 30.19%.
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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