Dynamic Technology Lab Private Ltd bought a new position in shares of Kennametal Inc. (NYSE:KMT - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 31,002 shares of the industrial products company's stock, valued at approximately $804,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP increased its holdings in shares of Kennametal by 198.9% in the second quarter. Quarry LP now owns 1,058 shares of the industrial products company's stock worth $25,000 after purchasing an additional 704 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Kennametal in the 2nd quarter valued at about $28,000. Quest Partners LLC bought a new stake in shares of Kennametal during the 2nd quarter valued at about $44,000. Signaturefd LLC grew its holdings in shares of Kennametal by 98.7% during the third 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 increased its position in shares of Kennametal by 46.7% in the second quarter. CWM LLC now owns 3,049 shares of the industrial products company's stock worth $72,000 after purchasing an additional 970 shares during the last quarter.
Kennametal Trading Down 0.1 %
NYSE KMT traded down $0.03 during trading on Thursday, hitting $28.48. 626,218 shares of the company's stock traded hands, compared to its average volume of 719,300. The stock has a fifty day moving average of $26.67 and a two-hundred day moving average of $25.42. Kennametal Inc. has a 12-month low of $22.50 and a 12-month high of $32.18. The firm has a market cap of $2.21 billion, a P/E ratio of 22.26, a PEG ratio of 2.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16.
Kennametal (NYSE:KMT - Get Free Report) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The company had revenue of $481.90 million during the quarter, compared to analysts' expectations of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. Kennametal's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 EPS. As a group, sell-side analysts expect that Kennametal Inc. will post 1.45 EPS for the current year.
Kennametal Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Tuesday, November 12th. Kennametal's dividend payout ratio is presently 62.50%.
Insider Buying and Selling
In related news, VP John Wayne Witt sold 1,765 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $29.35, for a total value of $51,802.75. Following the sale, the vice president now owns 1,642 shares in the company, valued at $48,192.70. This represents a 51.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.41% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on KMT shares. StockNews.com lowered shares of Kennametal from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Loop Capital upped their target price on shares of Kennametal from $24.00 to $26.00 and gave the stock a "hold" rating in a research report on Tuesday, November 19th. Bank of America downgraded Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 price target on the stock. in a research report on Friday, October 18th. Finally, Barclays increased 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 research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $25.00.
Read Our Latest Stock Report on Kennametal
Kennametal Company Profile
(
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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