Barclays PLC Boosts Position in Kennametal Inc. (NYSE:KMT)

Barclays PLC boosted its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 95.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,670 shares of the industrial products company's stock after buying an additional 79,992 shares during the period. Barclays PLC owned 0.21% of Kennametal worth $4,244,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd boosted its position in Kennametal by 14.4% during the third quarter. Covestor Ltd now owns 3,753 shares of the industrial products company's stock valued at $97,000 after purchasing an additional 472 shares in the last quarter. Quarry LP lifted its position in shares of Kennametal by 198.9% during the second quarter. Quarry LP now owns 1,058 shares of the industrial products company's stock valued at $25,000 after buying an additional 704 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Kennametal by 98.7% in the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company's stock valued at $53,000 after buying an additional 1,008 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Kennametal by 2.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,877 shares of the industrial products company's stock worth $1,033,000 after buying an additional 1,016 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in shares of Kennametal by 6.4% during the 3rd quarter. Inspire Investing LLC now owns 17,840 shares of the industrial products company's stock worth $463,000 after acquiring an additional 1,070 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KMT. Jefferies Financial Group downgraded shares of Kennametal from a "buy" rating to a "hold" rating and lowered their target price for the company from $40.00 to $32.00 in a research note on Friday, December 6th. StockNews.com cut Kennametal from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Morgan Stanley boosted their target price on Kennametal from $24.50 to $28.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Loop Capital increased their price target on Kennametal from $24.00 to $26.00 and gave the company a "hold" rating in a research note on Tuesday, November 19th. Finally, Bank of America lowered Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 price target on the stock. in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $26.83.

Kennametal Stock Performance

KMT traded down $0.40 on Friday, reaching $24.58. 4,741,376 shares of the stock were exchanged, compared to its average volume of 734,021. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16. The company's 50-day moving average price is $27.22 and its 200 day moving average price is $25.60. The firm has a market capitalization of $1.91 billion, a PE ratio of 19.20, a PEG ratio of 2.29 and a beta of 1.65. Kennametal Inc. has a fifty-two week low of $22.50 and a fifty-two week high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last released its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The firm had revenue of $481.90 million during the quarter, compared to the consensus estimate of $485.26 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company's revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Kennametal Inc. will post 1.44 EPS for the current fiscal year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.25%. Kennametal's payout ratio is currently 62.50%.

Insider Buying and Selling

In other news, VP John Wayne Witt sold 1,765 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $29.35, for a total transaction of $51,802.75. Following the sale, the vice president now directly owns 1,642 shares in the company, valued at $48,192.70. This trade represents a 51.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Franklin Cardenas sold 20,470 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total value of $578,072.80. Following the completion of the sale, the vice president now owns 39,581 shares of the company's stock, valued at $1,117,767.44. This trade represents a 34.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.41% of the stock is owned by corporate insiders.

Kennametal Company Profile

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.