Gabelli Funds LLC Boosts Stake in Kennametal Inc. (KMT)

Gabelli Funds LLC grew its position in Kennametal Inc. (NYSE:KMT) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 272,500 shares of the industrial products company’s stock after purchasing an additional 5,000 shares during the quarter. Gabelli Funds LLC owned about 0.33% of Kennametal worth $11,870,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its position in Kennametal by 105.3% during the second quarter. Moneta Group Investment Advisors LLC now owns 3,510 shares of the industrial products company’s stock worth $126,000 after buying an additional 1,800 shares in the last quarter. Advisors Asset Management Inc. grew its position in Kennametal by 169.2% during the second quarter. Advisors Asset Management Inc. now owns 4,316 shares of the industrial products company’s stock worth $155,000 after buying an additional 2,713 shares in the last quarter. Caption Management LLC acquired a new stake in Kennametal during the second quarter worth approximately $215,000. Gillespie Robinson & Grimm Inc. acquired a new stake in Kennametal during the third quarter worth approximately $242,000. Finally, D.A. Davidson & CO. grew its position in Kennametal by 21.0% during the second quarter. D.A. Davidson & CO. now owns 8,471 shares of the industrial products company’s stock worth $304,000 after buying an additional 1,471 shares in the last quarter.

NYSE KMT opened at $39.46 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.55 and a quick ratio of 1.15. Kennametal Inc. has a fifty-two week low of $32.91 and a fifty-two week high of $52.52. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 2.61 and a beta of 2.12.

Kennametal (NYSE:KMT) last released its earnings results on Monday, November 5th. The industrial products company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Kennametal had a return on equity of 19.03% and a net margin of 9.03%. The firm had revenue of $587.00 million during the quarter, compared to analysts’ expectations of $590.22 million. During the same period in the prior year, the company earned $0.48 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, analysts predict that Kennametal Inc. will post 3.13 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Tuesday, November 13th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.03%. The ex-dividend date is Friday, November 9th. Kennametal’s payout ratio is presently 30.19%.

In other Kennametal news, VP Michelle R. Keating sold 988 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $42.20, for a total transaction of $41,693.60. Following the completion of the sale, the vice president now directly owns 14,676 shares in the company, valued at $619,327.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gaalen Jan Kees Van sold 13,606 shares of the company’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $41.09, for a total value of $559,070.54. Following the sale, the vice president now owns 68,827 shares of the company’s stock, valued at $2,828,101.43. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

A number of brokerages recently issued reports on KMT. Stifel Nicolaus reissued a “hold” rating and set a $47.00 price target on shares of Kennametal in a research report on Thursday, August 9th. Zacks Investment Research raised Kennametal from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Friday, October 12th. ValuEngine raised Kennametal from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Bank of America reduced their price target on Kennametal from $40.00 to $35.00 and set an “underperform” rating on the stock in a research report on Tuesday. Finally, BMO Capital Markets reissued a “hold” rating and set a $42.00 price target on shares of Kennametal in a research report on Thursday, July 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $48.50.

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Kennametal Company Profile

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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