Natixis Advisors LP acquired a new stake in Kennametal Inc. (NYSE:KMT – Get Rating) in the fourth quarter, the company said in a recent filing with the Securities and Exchange Commission. Institutional investors acquired 13,572 shares of an industrial products company worth approximately $327,000.
Other hedge funds have also recently bought and sold shares in the company. Quadrant Capital Group LLC increased its stake in Kennametal by 106.2% in the third quarter. He owns 1,423 shares of an industrial products company worth $29,000 after Quadrant Capital Group LLC purchased an additional 733 shares during this period. Wipfli Financial Advisors LLC purchased approximately $30,000 worth of new Kennametal shares in the third quarter. Public Employees Retirement System of Ohio increased its Kennametal stake by 10.6% in the third quarter. The Public Employees Retirement System of Ohio owns 6,586 shares of the industrial products company worth $136,000 after purchasing an additional 630 shares during this period. Quantbot Technologies LP increased its Kennametal stake by 2,888.6% in the third quarter. Quantbot Technologies LP owns 7,083 shares of the industrial products company worth $145,000 after purchasing an additional 6,846 of his shares during this period. Finally, Tower Research Capital LLC TRC increased its stake in Kennametal by 12.8% in the third quarter. Tower Research Capital LLC TRC owns 7,246 shares of the industrial products company valued at $149,000 after purchasing an additional 821 shares during this period.
Kennametal Stock Performance
KMT shares opened at $26.01 on Monday. The company has a debt to equity ratio of 0.46, a current ratio of 2.12 and a quick ratio of 0.90. The stock has a market cap of $2.09 billion, a PE ratio of 17.00, a P/E ratio of 3.67, and a beta of 1.88. The stock has a 50-day moving average of $27.26 and a 200-day moving average of $26.25. Kennametal Inc. has a year low of $20.21 and a year high of $30.60.
Kennametal (NYSE:KMT – Get Rating) last reported quarterly results on Monday, Feb. 6. The industrial products company reported earnings of $0.27 per share for the quarter, beating consensus expectations of $0.22 by $0.05. Kennametal had a net profit margin of 6.25% and a return on equity of 10.26%. The company posted revenue of $497 million for the quarter, compared to analyst estimates of $491.88 million. At the same time last year, the business earned him $0.35 EPS. Business quarterly revenue increased 2.1% year-over-year. As a group, sell-side analysts expect Kennametal Inc. to post his 1.43 earnings per share this year.
Kennametal Announces Dividend
The business recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Tuesday, February 14 were awarded a dividend of $0.20. This represents his $0.80 dividend and his 3.08% yield on an annual basis. The ex-dividend date for this dividend was Monday, February 13. Kennametal’s payout percentage is currently 52.29%.
Analyst Rating Change
Recently, many equity analysts have focused their attention on the KMT stock. StockNews.com began coverage of Kennametal’s stock in a research report on Thursday, March 16. They set a “buy” rating for the company. Barclays raised its price target on Kennametal shares from $25.00 to $27.00, giving the company an “equal-weighted” rating, in a research report on Wednesday, February 8. Loop Capital, in a report on Thursday, Feb. 9, raised Kennametal’s price target to $28.00 from he’s $22.00, giving the company a “Hold” rating. Finally, JPMorgan Chase & Co. raised its price target for Kennametal stock to $26.00 from $24.00 in a report on Wednesday, February 8, giving the company an “underweight” rating. Three investment analysts gave the stock a sell rating, three issued a pending rating, and one assigned a buy rating to the stock. According to MarketBeat data, the company has a consensus rating of “Hold” and an average price target of $26.71.
About Kennametal
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Kennametal, Inc is committed to the development and application of tungsten carbide, ceramics and solutions used in metal cutting and extreme wear applications. It operates through the following segments: Metal Cutting and Infrastructure. The Metal Cutting segment develops and manufactures tools and metal cutting products and services, offering an assortment of standard and custom metal cutting solutions for diverse end markets such as aerospace, general engineering, energy and transportation.
References
Want to know which other hedge funds hold KMT? Visit HoldingsChannel.com to get the latest Kennametal Inc. (NYSE:KMT – Get Rating) 13F filings and insider trading.
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