Verition Fund Management LLC bought a new stake in Kennametal Inc. (NYSE:KMT – Get Rating) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 19,206 shares of the industrial products company's stock, valued at approximately $549,000.
Several other large investors have also recently bought and sold shares of the company. Raymond James & Associates increased its position in shares of Kennametal by 5.8% during the fourth quarter. Raymond James & Associates now owns 8,164 shares of the industrial products company's stock worth $293,000 after acquiring an additional 448 shares in the last quarter. Cornercap Investment Counsel Inc. increased its position in shares of Kennametal by 1.5% during the first quarter. Cornercap Investment Counsel Inc. now owns 30,343 shares of the industrial products company's stock worth $868,000 after acquiring an additional 449 shares in the last quarter. Comerica Bank increased its position in shares of Kennametal by 1.0% during the first quarter. Comerica Bank now owns 55,653 shares of the industrial products company's stock worth $1,584,000 after acquiring an additional 550 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of Kennametal by 1.3% during the first quarter. Yousif Capital Management LLC now owns 44,482 shares of the industrial products company's stock worth $1,273,000 after acquiring an additional 550 shares in the last quarter. Finally, Virginia Retirement Systems ET AL increased its position in shares of Kennametal by 4.7% during the first quarter. Virginia Retirement Systems ET AL now owns 15,700 shares of the industrial products company's stock worth $449,000 after acquiring an additional 700 shares in the last quarter.
Get Kennametal alerts:Kennametal Stock Performance
Shares of KMT stock opened at $20.77 on Friday. The stock has a market cap of $1.69 billion, a P/E ratio of 12.08, a P/E/G ratio of 2.27 and a beta of 1.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.11 and a quick ratio of 0.93. The company has a fifty day moving average price of $24.72 and a two-hundred day moving average price of $25.97. Kennametal Inc. has a one year low of $20.21 and a one year high of $41.22.
Kennametal (NYSE:KMT – Get Rating) last announced its quarterly earnings results on Monday, August 1st. The industrial products company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.06. The firm had revenue of $530.02 million during the quarter, compared to analysts' expectations of $516.09 million. Kennametal had a net margin of 7.19% and a return on equity of 11.10%. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 earnings per share. As a group, equities analysts predict that Kennametal Inc. will post 1.92 EPS for the current year.Kennametal Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Monday, August 8th. Kennametal's dividend payout ratio is presently 46.51%.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Kennametal from $31.00 to $22.00 and set an "underweight" rating for the company in a research report on Tuesday, July 12th. Loop Capital lowered their price objective on shares of Kennametal from $29.00 to $22.00 and set a "hold" rating for the company in a research report on Wednesday, July 20th. UBS Group cut shares of Kennametal from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $27.00 to $19.00 in a report on Friday, July 8th. Barclays reduced their target price on shares of Kennametal from $26.00 to $25.00 in a report on Wednesday, August 3rd. Finally, Jefferies Financial Group reduced their target price on shares of Kennametal from $45.00 to $35.00 in a report on Friday, July 15th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $27.25.
Kennametal Company Profile
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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.
Further Reading
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