Charles Schwab Investment Management Inc. Has $36.91 Million Position in Kennametal Inc. (NYSE:KMT)

Charles Schwab Investment Management Inc. raised its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 5.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,423,495 shares of the industrial products company's stock after purchasing an additional 67,392 shares during the period. Charles Schwab Investment Management Inc. owned 1.83% of Kennametal worth $36,911,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KMT. Quarry LP raised its stake in shares of Kennametal by 198.9% during the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company's stock worth $25,000 after purchasing an additional 704 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Kennametal in the 2nd quarter valued at approximately $28,000. Quest Partners LLC acquired a new stake in Kennametal in the 2nd quarter valued at approximately $44,000. Signaturefd LLC grew its holdings in shares of Kennametal by 98.7% during the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company's stock worth $53,000 after purchasing an additional 1,008 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Kennametal by 46.7% during the 2nd quarter. CWM LLC now owns 3,049 shares of the industrial products company's stock worth $72,000 after purchasing an additional 970 shares in the last quarter.

Insider Activity at Kennametal

In other Kennametal news, VP John Wayne Witt sold 1,765 shares of the business's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $29.35, for a total value of $51,802.75. Following the completion of the transaction, the vice president now directly owns 1,642 shares of the company's stock, valued at approximately $48,192.70. The trade was a 51.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.41% of the stock is currently owned by corporate insiders.

Kennametal Trading Down 1.7 %

Shares of KMT stock traded down $0.49 on Tuesday, reaching $28.58. 535,357 shares of the stock were exchanged, compared to its average volume of 716,653. The stock has a market cap of $2.22 billion, a PE ratio of 22.34, a P/E/G ratio of 2.44 and a beta of 1.65. Kennametal Inc. has a one year low of $22.50 and a one year high of $32.18. 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 stock has a 50 day moving average price of $26.85 and a 200 day moving average price of $25.47.

Kennametal (NYSE:KMT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. The business had revenue of $481.90 million during the quarter, compared to the consensus estimate of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The firm's revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. Equities research analysts forecast that Kennametal Inc. will post 1.45 EPS for the current fiscal year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a yield of 2.80%. Kennametal's dividend payout ratio is presently 62.50%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KMT. StockNews.com lowered Kennametal from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Bank of America lowered Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 price objective on the stock. in a report on Friday, October 18th. Loop Capital boosted 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, Barclays lifted their price objective on Kennametal from $24.00 to $25.00 and gave the company an "equal weight" rating in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, Kennametal presently has a consensus rating of "Hold" and an average target price of $25.00.

Kennametal 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.