Deutsche Bank AG lifted its position in Kennametal Inc. (NYSE:KMT) by 27.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,178,576 shares of the industrial products company’s stock after acquiring an additional 255,176 shares during the period. Deutsche Bank AG owned about 1.44% of Kennametal worth $57,052,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Hartford Investment Management Co. purchased a new position in shares of Kennametal in the third quarter worth approximately $202,000. Trexquant Investment LP purchased a new position in shares of Kennametal in the third quarter worth approximately $207,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Kennametal in the third quarter worth approximately $234,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Kennametal by 41.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,019 shares of the industrial products company’s stock worth $243,000 after acquiring an additional 1,463 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Kennametal in the third quarter worth approximately $280,000. 99.33% of the stock is currently owned by institutional investors and hedge funds.
Kennametal Inc. (NYSE:KMT) opened at $44.89 on Wednesday. The company has a current ratio of 2.77, a quick ratio of 1.52 and a debt-to-equity ratio of 0.60. The company has a market cap of $3,672.44, a P/E ratio of 20.19, a P/E/G ratio of 3.51 and a beta of 2.01. Kennametal Inc. has a 1 year low of $32.23 and a 1 year high of $52.52.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 13th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Monday, February 12th. Kennametal’s dividend payout ratio (DPR) is presently 45.45%.
A number of brokerages recently commented on KMT. Barrington Research reaffirmed an “outperform” rating and set a $53.00 price objective on shares of Kennametal in a research report on Thursday, February 8th. KeyCorp reaffirmed a “buy” rating and set a $56.00 price objective on shares of Kennametal in a research report on Wednesday, January 10th. Zacks Investment Research downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Stifel Nicolaus boosted their price objective on shares of Kennametal from $50.00 to $52.00 and gave the company a “hold” rating in a research report on Sunday, February 4th. Finally, JPMorgan Chase & Co. downgraded shares of Kennametal from an “overweight” rating to a “neutral” rating in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $49.95.
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Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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