Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Kennametal Inc. (NYSE:KMT) by 41.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,019 shares of the industrial products company’s stock after acquiring an additional 1,463 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kennametal were worth $243,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. American Century Companies Inc. lifted its position in shares of Kennametal by 39.4% in the 3rd quarter. American Century Companies Inc. now owns 2,382,709 shares of the industrial products company’s stock valued at $96,118,000 after acquiring an additional 673,230 shares in the last quarter. Legal & General Group Plc lifted its position in Kennametal by 6.3% in the 3rd quarter. Legal & General Group Plc now owns 117,236 shares of the industrial products company’s stock worth $4,727,000 after buying an additional 6,945 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Kennametal in the 2nd quarter worth approximately $435,000. Macquarie Group Ltd. purchased a new stake in Kennametal in the 2nd quarter worth approximately $1,437,000. Finally, Envestnet Asset Management Inc. lifted its position in Kennametal by 2,335.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 30,205 shares of the industrial products company’s stock worth $1,218,000 after buying an additional 28,965 shares in the last quarter. Institutional investors and hedge funds own 98.70% of the company’s stock.
In related news, VP Judith L. Bacchus sold 18,125 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $47.00, for a total value of $851,875.00. Following the transaction, the vice president now directly owns 38,528 shares in the company, valued at approximately $1,810,816. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy R. Mclevish sold 7,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $47.00, for a total transaction of $329,000.00. Following the completion of the transaction, the director now owns 78,904 shares in the company, valued at $3,708,488. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,125 shares of company stock worth $2,140,875. 2.00% of the stock is currently owned by company insiders.
Kennametal (NYSE:KMT) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.03). Kennametal had a return on equity of 17.09% and a net margin of 6.54%. The business had revenue of $571.00 million for the quarter, compared to analyst estimates of $541.78 million. During the same quarter last year, the company earned $0.24 EPS. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. research analysts forecast that Kennametal Inc. will post 2.57 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, February 12th. This represents a $0.80 annualized dividend and a dividend yield of 1.84%. Kennametal’s dividend payout ratio (DPR) is 45.45%.
A number of research firms have issued reports on KMT. ValuEngine downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Barrington Research reiterated an “outperform” rating and issued a $53.00 target price on shares of Kennametal in a research report on Thursday, February 8th. Barclays began coverage on shares of Kennametal in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $47.00 target price for the company. Zacks Investment Research downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, Stifel Nicolaus increased their target price on shares of Kennametal from $50.00 to $52.00 and gave the stock a “hold” rating in a research report on Sunday, February 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $49.95.
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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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