Principal Financial Group Inc. lowered its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 367,313 shares of the industrial products company's stock after selling 20,785 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Kennametal worth $9,524,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Quarry LP grew its position in Kennametal by 198.9% during the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company's stock worth $25,000 after acquiring an additional 704 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Kennametal in the second quarter worth $28,000. Quest Partners LLC bought a new stake in Kennametal during the second quarter valued at about $44,000. Signaturefd LLC lifted its position in shares of Kennametal by 98.7% in the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 1,008 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its position in shares of 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 buying an additional 2,603 shares in the last quarter.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on KMT shares. Loop Capital increased their price objective on Kennametal from $24.00 to $26.00 and gave the stock a "hold" rating in a research note on Tuesday. StockNews.com cut Kennametal from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Barclays lifted their price target on shares of Kennametal from $24.00 to $25.00 and gave the company an "equal weight" rating in a research report on Friday, August 9th. Finally, Bank of America downgraded shares of Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 target price for the company. in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $25.00.
Read Our Latest Research Report on KMT
Kennametal Stock Down 0.4 %
Shares of NYSE KMT traded down $0.12 during midday trading on Tuesday, reaching $28.08. The company's stock had a trading volume of 149,831 shares, compared to its average volume of 716,910. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 2.39 and a beta of 1.64. Kennametal Inc. has a fifty-two week low of $22.50 and a fifty-two week high of $32.18. The stock has a 50 day simple moving average of $26.18 and a 200-day simple moving average of $25.25. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45.
Kennametal (NYSE:KMT - Get Free Report) last issued its earnings results 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 firm had revenue of $481.90 million during the quarter, compared to the consensus estimate of $485.26 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business's quarterly revenue was down 2.2% on a year-over-year basis. Equities research analysts predict that Kennametal Inc. will post 1.45 earnings per share for the current year.
Kennametal Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Tuesday, November 12th. Kennametal's dividend payout ratio is currently 62.50%.
About Kennametal
(
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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