King Luther Capital Management Corp lessened its position in shares of Kennametal Inc. (NYSE:KMT) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,205 shares of the industrial products company’s stock after selling 4,350 shares during the quarter. King Luther Capital Management Corp owned about 0.12% of Kennametal worth $4,452,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC increased its stake in Kennametal by 105.3% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,510 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 1,800 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Kennametal by 39,914.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 641,432 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 639,829 shares in the last quarter. Caption Management LLC acquired a new position in Kennametal during the 2nd quarter valued at approximately $215,000. Gillespie Robinson & Grimm Inc. acquired a new position in Kennametal during the 3rd quarter valued at approximately $242,000. Finally, Tower Research Capital LLC TRC increased its stake in Kennametal by 53.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,071 shares of the industrial products company’s stock valued at $264,000 after purchasing an additional 2,121 shares in the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.
In related news, VP Judith L. Bacchus sold 5,000 shares of the stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $42.70, for a total transaction of $213,500.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Michelle R. Keating sold 988 shares of the 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 sale, the vice president now directly owns 14,676 shares in the company, valued at $619,327.20. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
A number of brokerages have issued reports on KMT. Zacks Investment Research upgraded shares of Kennametal from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, November 13th. ValuEngine upgraded shares of Kennametal from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. Longbow Research upgraded shares of Kennametal from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Monday, September 10th. Bank of America cut their price target on shares of Kennametal from $40.00 to $35.00 and set an “underperform” rating on the stock in a research note on Tuesday, November 6th. Finally, Goldman Sachs Group assumed coverage on shares of Kennametal in a report on Tuesday, October 2nd. They issued a “buy” rating and a $53.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $48.58.
KMT stock opened at $36.96 on Friday. The firm has a market capitalization of $3.14 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 2.45 and a beta of 2.16. The company has a current ratio of 2.55, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47. Kennametal Inc. has a 12 month low of $32.91 and a 12 month high of $52.52.
Kennametal (NYSE:KMT) last released its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The business had revenue of $587.00 million for the quarter, compared to the consensus estimate of $590.22 million. Kennametal had a net margin of 9.03% and a return on equity of 19.03%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS. On average, research analysts expect that Kennametal Inc. will post 3.13 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 28th. Stockholders of record on Tuesday, November 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, November 9th. Kennametal’s dividend payout ratio (DPR) is currently 30.19%.
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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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