Macquarie Group Ltd. boosted its stake in shares of Kennametal Inc. (NYSE:KMT) by 22.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,200 shares of the industrial products company’s stock after purchasing an additional 8,800 shares during the period. Macquarie Group Ltd. owned 0.06% of Kennametal worth $1,904,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fortaleza Asset Management Inc. acquired a new stake in shares of Kennametal in the third quarter valued at approximately $115,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Kennametal by 8.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock valued at $133,000 after buying an additional 272 shares during the last quarter. World Asset Management Inc acquired a new stake in shares of Kennametal in the third quarter valued at approximately $207,000. Koch Industries Inc. acquired a new stake in shares of Kennametal in the second quarter valued at approximately $211,000. Finally, Shelton Capital Management acquired a new stake in shares of Kennametal in the second quarter valued at approximately $229,000. 98.67% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Kennametal in a research report on Wednesday, August 23rd. ValuEngine cut Kennametal from a “buy” rating to a “hold” rating in a report on Friday, December 1st. TheStreet raised Kennametal from a “c+” rating to a “b” rating in a report on Thursday, November 2nd. Jefferies Group reissued a “buy” rating and set a $50.00 price target on shares of Kennametal in a report on Thursday, September 21st. Finally, Zacks Investment Research raised Kennametal from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Kennametal currently has an average rating of “Hold” and a consensus target price of $45.23.
Kennametal Inc. (NYSE KMT) traded down $0.68 during trading on Wednesday, reaching $45.78. The company’s stock had a trading volume of 835,600 shares, compared to its average volume of 904,275. Kennametal Inc. has a 12-month low of $31.12 and a 12-month high of $48.89. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.41 and a current ratio of 2.71. The company has a market cap of $3,765.50, a price-to-earnings ratio of 23.83, a PEG ratio of 2.20 and a beta of 1.98.
Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.17. Kennametal had a return on equity of 15.71% and a net margin of 5.18%. The firm had revenue of $542.45 million for the quarter, compared to analyst estimates of $516.80 million. During the same quarter last year, the company earned $0.11 EPS. The company’s revenue was up 13.6% on a year-over-year basis. equities analysts expect that Kennametal Inc. will post 2.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, November 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.75%. Kennametal’s payout ratio is 59.26%.
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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