Charles Schwab Investment Management Inc. increased its stake in Kennametal Inc. (NYSE:KMT - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,479,599 shares of the industrial products company's stock after acquiring an additional 56,104 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.90% of Kennametal worth $35,540,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Natixis Advisors LLC lifted its position in shares of Kennametal by 20.6% during the 3rd quarter. Natixis Advisors LLC now owns 14,158 shares of the industrial products company's stock worth $367,000 after purchasing an additional 2,415 shares during the last quarter. Quest Partners LLC boosted its position in shares of Kennametal by 2,429.9% during the 3rd quarter. Quest Partners LLC now owns 46,929 shares of the industrial products company's stock worth $1,217,000 after acquiring an additional 45,074 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Kennametal in the 3rd quarter valued at about $555,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Kennametal in the 3rd quarter valued at about $804,000. Finally, FMR LLC raised its position in shares of Kennametal by 395.8% during the 3rd quarter. FMR LLC now owns 16,561 shares of the industrial products company's stock worth $429,000 after acquiring an additional 13,221 shares in the last quarter.
Insider Transactions at Kennametal
In other Kennametal news, CEO Sanjay Chowbey acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were purchased at an average cost of $21.75 per share, with a total value of $217,500.00. Following the purchase, the chief executive officer now owns 77,595 shares in the company, valued at approximately $1,687,691.25. The trade was a 14.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.41% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on KMT. Morgan Stanley reduced their price objective on shares of Kennametal from $28.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 12th. StockNews.com raised Kennametal from a "hold" rating to a "buy" rating in a report on Monday, January 27th. Barclays set a $25.00 price target on Kennametal and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Finally, Jefferies Financial Group cut shares of Kennametal from a "buy" rating to a "hold" rating and cut their target price for the company from $40.00 to $32.00 in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $26.60.
Read Our Latest Research Report on KMT
Kennametal Stock Performance
Shares of NYSE:KMT traded down $0.06 during midday trading on Thursday, hitting $21.64. The stock had a trading volume of 485,551 shares, compared to its average volume of 764,252. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.67 billion, a PE ratio of 17.74, a P/E/G ratio of 3.69 and a beta of 1.69. Kennametal Inc. has a 1 year low of $20.50 and a 1 year high of $32.18. The stock has a 50 day moving average price of $22.77 and a two-hundred day moving average price of $24.98.
Kennametal (NYSE:KMT - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. As a group, equities analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.
Kennametal Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Tuesday, February 11th. Kennametal's dividend payout ratio (DPR) is 65.57%.
Kennametal Profile
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Free Report)
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.
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