New Mexico Educational Retirement Board decreased its holdings in shares of Kennametal Inc. (NYSE:KMT) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,500 shares of the industrial products company’s stock after selling 2,600 shares during the period. New Mexico Educational Retirement Board’s holdings in Kennametal were worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Advisors Asset Management Inc. lifted its position in shares of Kennametal by 169.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,316 shares of the industrial products company’s stock valued at $155,000 after buying an additional 2,713 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Kennametal during the 3rd quarter valued at approximately $211,000. Veritable L.P. purchased a new position in shares of Kennametal during the 3rd quarter valued at approximately $215,000. Meeder Asset Management Inc. purchased a new position in shares of Kennametal during the 4th quarter valued at approximately $170,000. Finally, Glenmede Trust Co. NA lifted its position in shares of Kennametal by 56.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,475 shares of the industrial products company’s stock valued at $238,000 after buying an additional 1,965 shares in the last quarter. Hedge funds and other institutional investors own 99.78% of the company’s stock.
In other Kennametal news, VP Michelle R. Keating sold 1,890 shares of the firm’s stock in a transaction on Wednesday, February 6th. The stock was 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 available through the SEC website. Also, VP Judith L. Bacchus sold 5,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $42.70, for a total value of $213,500.00. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
KMT has been the topic of a number of research reports. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Friday, October 12th. Barclays decreased their price objective on Kennametal from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, January 7th. ValuEngine upgraded Kennametal from a “sell” rating to a “hold” rating in a report on Thursday, November 8th. Finally, Bank of America decreased their price objective on Kennametal from $40.00 to $35.00 and set an “underperform” rating on the stock in a report on Tuesday, November 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Kennametal presently has an average rating of “Hold” and a consensus target price of $46.10.
Shares of KMT stock opened at $36.77 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.26 and a current ratio of 2.72. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.21 and a beta of 2.05. Kennametal Inc. has a fifty-two week low of $30.32 and a fifty-two week high of $45.91.
Kennametal (NYSE:KMT) last announced its quarterly earnings data on Monday, February 4th. The industrial products company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $587.40 million for the quarter, compared to analyst estimates of $606.76 million. Kennametal had a return on equity of 19.73% and a net margin of 9.50%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. Sell-side analysts expect that Kennametal Inc. will post 3.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Shareholders of record on Tuesday, February 12th will be issued a $0.20 dividend. The ex-dividend date is Monday, February 11th. This represents a $0.80 dividend on an annualized basis and a yield of 2.18%. Kennametal’s payout ratio 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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