JPMorgan Chase & Co. Raises Holdings in Kennametal Inc. (NYSE:KMT)

JPMorgan Chase & Co. boosted its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 29.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 313,785 shares of the industrial products company's stock after purchasing an additional 71,346 shares during the quarter. JPMorgan Chase & Co. owned about 0.40% of Kennametal worth $7,537,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in Kennametal during the third quarter valued at approximately $30,000. Blue Trust Inc. boosted its position in Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 716 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 459 shares during the period. KBC Group NV raised its position in shares of Kennametal by 50.3% in the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock worth $80,000 after acquiring an additional 1,122 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Kennametal in the 4th quarter worth $283,000.

Analyst Ratings Changes

A number of equities analysts have commented on KMT shares. StockNews.com downgraded shares of Kennametal from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Morgan Stanley reduced their price objective on shares of Kennametal from $24.00 to $20.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Barclays lowered their target price on shares of Kennametal from $24.00 to $22.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to data from MarketBeat.com, Kennametal currently has an average rating of "Hold" and an average price target of $25.20.

Insider Buying and Selling at Kennametal

In other Kennametal news, CEO Sanjay Chowbey acquired 10,000 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was acquired at an average cost of $21.75 per share, for a total transaction 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.41% of the company's stock.

Kennametal Stock Performance

Shares of Kennametal stock traded up $0.48 during midday trading on Tuesday, hitting $19.06. The company had a trading volume of 748,914 shares, compared to its average volume of 858,441. The company has a fifty day simple moving average of $20.88 and a 200 day simple moving average of $24.00. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 3.69 and a beta of 1.55. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. Kennametal Inc. has a 12-month low of $17.30 and a 12-month high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, 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. Shareholders of record on Tuesday, February 11th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a yield of 4.20%. Kennametal's dividend payout ratio is currently 65.57%.

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.