Citigroup Inc. increased its stake in Kennametal Inc. (NYSE:KMT) by 254.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,201 shares of the industrial products company’s stock after acquiring an additional 25,978 shares during the period. Citigroup Inc.’s holdings in Kennametal were worth $1,205,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of KMT. Oregon Public Employees Retirement Fund boosted its holdings in shares of Kennametal by 3,277.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,087,990 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 1,055,775 shares in the last quarter. Burgundy Asset Management Ltd. bought a new position in shares of Kennametal in the third quarter valued at approximately $45,957,000. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Kennametal by 25.5% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,662,331 shares of the industrial products company’s stock valued at $115,971,000 after acquiring an additional 541,767 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Kennametal by 37.7% in the third quarter. Bank of New York Mellon Corp now owns 1,900,801 shares of the industrial products company’s stock valued at $82,799,000 after acquiring an additional 520,579 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of Kennametal by 803.3% in the fourth quarter. Prudential Financial Inc. now owns 513,858 shares of the industrial products company’s stock valued at $17,101,000 after acquiring an additional 456,969 shares in the last quarter. Institutional investors and hedge funds own 98.67% of the company’s stock.
Shares of NYSE:KMT opened at $36.29 on Friday. The company has a market cap of $3.03 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 1.22 and a beta of 2.07. Kennametal Inc. has a 1-year low of $30.32 and a 1-year high of $45.10. The company has a quick ratio of 1.31, a current ratio of 2.72 and a debt-to-equity ratio of 0.45.
Kennametal (NYSE:KMT) last issued its earnings results on Monday, February 4th. The industrial products company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The firm had revenue of $587.40 million during the quarter, compared to analysts’ expectations of $606.76 million. Kennametal had a net margin of 9.50% and a return on equity of 19.73%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. As a group, sell-side analysts anticipate that Kennametal Inc. will post 3.13 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 26th. Investors of record on Tuesday, February 12th were given a $0.20 dividend. The ex-dividend date was Monday, February 11th. This represents a $0.80 annualized dividend and a dividend yield of 2.20%. Kennametal’s dividend payout ratio (DPR) is presently 30.19%.
Several research firms have recently issued reports on KMT. ValuEngine cut shares of Kennametal from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Zacks Investment Research cut shares of Kennametal from a “hold” rating to a “sell” rating in a report on Wednesday, February 6th. Finally, Barclays decreased their price objective on shares of Kennametal from $41.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, January 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Kennametal has an average rating of “Hold” and an average target price of $46.10.
In related news, VP Michelle R. Keating sold 1,890 shares of the company’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $37.51, for a total value of $70,893.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Patrick S. Watson sold 2,265 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $37.93, for a total transaction of $85,911.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,501 shares of company stock valued at $1,520,807. 2.00% of the stock is owned by insiders.
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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