Petrus Trust Company LTA bought a new stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,893 shares of the industrial products company's stock, valued at approximately $671,000.
Other large investors have also recently made changes to their positions in the company. Burgundy Asset Management Ltd. increased its holdings in Kennametal by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,977,697 shares of the industrial products company's stock worth $117,175,000 after acquiring an additional 67,327 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Kennametal by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company's stock worth $110,248,000 after acquiring an additional 100,905 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Kennametal by 1.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,298,229 shares of the industrial products company's stock worth $77,640,000 after acquiring an additional 50,622 shares during the last quarter. Brandes Investment Partners LP boosted its stake in Kennametal by 35.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company's stock worth $54,798,000 after purchasing an additional 606,477 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Kennametal by 1.0% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company's stock valued at $48,292,000 after buying an additional 20,634 shares during the period.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on KMT. Loop Capital upped their price target on Kennametal from $24.00 to $26.00 and gave the company a "hold" rating in a research report on Tuesday, November 19th. Bank of America cut 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. StockNews.com cut Kennametal from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Finally, Barclays upped their price target 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 equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, Kennametal presently has a consensus rating of "Hold" and an average target price of $25.00.
Get Our Latest Research Report on KMT
Kennametal Price Performance
Shares of NYSE KMT traded down $0.37 during midday trading on Thursday, hitting $27.88. 554,585 shares of the company's stock were exchanged, compared to its average volume of 715,832. Kennametal Inc. has a 12-month low of $22.50 and a 12-month high of $32.18. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 2.40 and a beta of 1.65. The business's fifty day moving average price is $26.99 and its two-hundred day moving average price is $25.53.
Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The company had revenue of $481.90 million during the quarter, compared to analyst estimates of $485.26 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Kennametal's revenue was down 2.2% on a year-over-year basis. As a group, research analysts forecast that Kennametal Inc. will post 1.45 EPS for the current fiscal year.
Kennametal Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.87%. The ex-dividend date was Tuesday, November 12th. Kennametal's dividend payout ratio is currently 62.50%.
Insiders Place Their Bets
In other Kennametal 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 completion of the sale, the vice president now owns 1,642 shares of the company's stock, valued at $48,192.70. This represents a 51.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.41% of the stock is owned by insiders.
Kennametal 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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