Raymond James Financial Inc. acquired a new stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,514 shares of the industrial products company's stock, valued at approximately $373,000.
Other large investors also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in Kennametal during the fourth quarter worth about $283,000. Atria Investments Inc lifted its holdings in Kennametal by 7.6% in the 4th quarter. Atria Investments Inc now owns 27,658 shares of the industrial products company's stock worth $664,000 after buying an additional 1,950 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Kennametal by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,479,599 shares of the industrial products company's stock valued at $35,540,000 after buying an additional 56,104 shares during the last quarter. AMH Equity Ltd acquired a new stake in shares of Kennametal during the fourth quarter valued at about $1,441,000. Finally, Illinois Municipal Retirement Fund increased its position in shares of Kennametal by 4.1% during the fourth quarter. Illinois Municipal Retirement Fund now owns 44,372 shares of the industrial products company's stock worth $1,066,000 after acquiring an additional 1,750 shares during the last quarter.
Wall Street Analyst Weigh In
A number of research firms have commented on KMT. Morgan Stanley reduced their target price on Kennametal from $28.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 12th. Barclays lowered their target price on shares of Kennametal from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Finally, StockNews.com lowered shares of Kennametal from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $26.00.
Read Our Latest Research Report on KMT
Insider Activity
In other news, CEO Sanjay Chowbey bought 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the transaction, the chief executive officer now directly owns 77,595 shares in the company, valued at $1,687,691.25. This represents a 14.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.41% of the stock is currently owned by company insiders.
Kennametal Stock Down 0.1 %
Shares of Kennametal stock traded down $0.02 during midday trading on Tuesday, hitting $19.05. The company's stock had a trading volume of 54,972 shares, compared to its average volume of 853,524. The stock has a 50-day simple moving average of $21.28 and a 200-day simple moving average of $24.27. The firm has a market capitalization of $1.47 billion, a P/E ratio of 15.61, 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 1-year low of $17.30 and a 1-year 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 EPS for the quarter, missing the consensus estimate 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, sell-side analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current year.
Kennametal Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Tuesday, February 11th. Kennametal's payout ratio is 65.57%.
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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