Quest Partners LLC lifted its holdings in Kennametal Inc. (NYSE:KMT - Free Report) by 2,429.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,929 shares of the industrial products company's stock after buying an additional 45,074 shares during the quarter. Quest Partners LLC owned approximately 0.06% of Kennametal worth $1,217,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of KMT. Quarry LP grew its holdings in 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 bought a new position in Kennametal during the 2nd quarter valued at approximately $28,000. Signaturefd LLC raised its stake in Kennametal by 98.7% during the third 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 during the last quarter. EntryPoint Capital LLC boosted its holdings in Kennametal by 2,552.0% in the first quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company's stock worth $67,000 after acquiring an additional 2,603 shares in the last quarter. Finally, CWM LLC grew its stake 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 acquiring an additional 970 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on KMT shares. Bank of America lowered Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 price target for the company. in a research report on Friday, October 18th. 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 note on Tuesday. StockNews.com downgraded shares of Kennametal from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Finally, Barclays boosted their price objective on shares of Kennametal from $24.00 to $25.00 and gave the stock an "equal weight" rating in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $25.00.
Check Out Our Latest Research Report on KMT
Kennametal Stock Performance
Shares of NYSE KMT traded up $0.29 during midday trading on Wednesday, hitting $28.26. 520,796 shares of the stock traded hands, compared to its average volume of 718,032. The firm has a market capitalization of $2.20 billion, a P/E ratio of 21.85, a PEG ratio of 2.39 and a beta of 1.64. 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 quick ratio of 1.16 and a current ratio of 2.52. The firm has a 50-day moving average of $26.26 and a two-hundred day moving average of $25.28.
Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results 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 analysts' expectations of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The firm's revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 earnings per share. On average, equities analysts forecast that Kennametal Inc. will post 1.45 EPS for the current fiscal year.
Kennametal Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Tuesday, November 12th. Kennametal's dividend payout ratio is presently 62.50%.
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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