International Assets Investment Management LLC Raises Position in Kennametal Inc. (NYSE:KMT)

International Assets Investment Management LLC raised its stake in Kennametal Inc. (NYSE:KMT - Free Report) by 1,235.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,645 shares of the industrial products company's stock after acquiring an additional 117,162 shares during the period. International Assets Investment Management LLC owned approximately 0.16% of Kennametal worth $3,284,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Signaturefd LLC lifted its position 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 purchasing an additional 1,008 shares during the period. Inspire Advisors LLC purchased a new position in shares of Kennametal in the 3rd quarter worth $204,000. Inspire Investing LLC grew its holdings in shares of Kennametal by 6.4% in the third quarter. Inspire Investing LLC now owns 17,840 shares of the industrial products company's stock worth $463,000 after acquiring an additional 1,070 shares during the period. CWM LLC increased its position in Kennametal by 40.3% during the third quarter. CWM LLC now owns 4,279 shares of the industrial products company's stock valued at $111,000 after acquiring an additional 1,230 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Kennametal by 74.6% in the third quarter. SG Americas Securities LLC now owns 12,173 shares of the industrial products company's stock valued at $316,000 after acquiring an additional 5,202 shares during the period.

Kennametal Price Performance

Shares of NYSE KMT traded up $0.20 during mid-day trading on Friday, reaching $25.52. The company's stock had a trading volume of 1,195,668 shares, compared to its average volume of 714,947. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.41 and a quick ratio of 1.17. Kennametal Inc. has a 52 week low of $22.38 and a 52 week high of $27.04. The stock has a fifty day moving average of $25.41 and a two-hundred day moving average of $24.88. The firm has a market capitalization of $1.99 billion, a PE ratio of 18.63, a P/E/G ratio of 2.82 and a beta of 1.64.

Kennametal (NYSE:KMT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.05. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. The business had revenue of $543.31 million during the quarter, compared to analyst estimates of $532.72 million. During the same period last year, the firm posted $0.51 EPS. The company's revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Kennametal Inc. will post 1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on KMT shares. Bank of America lowered shares of 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. Barclays lifted their price target on shares of Kennametal from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Friday, August 9th. StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, October 18th. Finally, Loop Capital lifted their target price on Kennametal from $22.00 to $24.00 and gave the company a "hold" rating in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $24.60.

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.