WINTON GROUP Ltd raised its position in Kennametal Inc. (NYSE:KMT – Free Report) by 170.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,366 shares of the industrial products company’s stock after acquiring an additional 36,757 shares during the period. WINTON GROUP Ltd’s holdings in Kennametal were worth $2,046,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP acquired a new position in shares of Kennametal during the second quarter worth $25,000. Rockefeller Capital Management L.P. grew its stake in Kennametal by 3,600.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 999 shares of the industrial products company’s stock worth $28,000 after buying an additional 972 shares during the last quarter. Headlands Technologies LLC increased its position in Kennametal by 80.7% during the 2nd quarter. Headlands Technologies LLC now owns 1,527 shares of the industrial products company’s stock valued at $35,000 after buying an additional 682 shares in the last quarter. Nykredit A S acquired a new position in Kennametal during the 2nd quarter valued at about $37,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Kennametal in the second quarter valued at about $44,000.
Kennametal Stock Up 1.1%
Shares of KMT stock opened at $29.45 on Friday. The stock’s 50-day simple moving average is $32.19 and its 200-day simple moving average is $35.15. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.98 and a current ratio of 2.62. The firm has a market capitalization of $2.24 billion, a PE ratio of 6.69, a P/E/G ratio of 0.29 and a beta of 1.34. Kennametal Inc. has a fifty-two week low of $20.35 and a fifty-two week high of $43.81.
Kennametal Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 11th. This represents a $0.80 dividend on an annualized basis and a yield of 2.7%. Kennametal’s payout ratio is currently 18.18%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on KMT shares. Morgan Stanley lowered Kennametal from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $31.00 to $27.00 in a research note on Monday, August 10th. DA Davidson decreased their price objective on shares of Kennametal from $34.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, August 11th. UBS Group lowered their target price on shares of Kennametal from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Kennametal in a research report on Monday, August 17th. Finally, JPMorgan Chase & Co. cut their price target on shares of Kennametal from $40.00 to $34.00 and set an “underweight” rating on the stock in a research note on Monday, July 13th. Five analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $34.07.
Get Our Latest Stock Analysis on KMT
Insiders Place Their Bets
In other Kennametal news, VP Judith Bacchus sold 9,676 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $30.29, for a total value of $293,086.04. Following the sale, the vice president directly owned 15,721 shares of the company’s stock, valued at approximately $476,189.09. This represents a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Chowbey purchased 7,000 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were bought at an average cost of $29.10 per share, for a total transaction of $203,700.00. Following the completion of the transaction, the chief executive officer directly owned 246,839 shares in the company, valued at $7,183,014.90. This trade represents a 2.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 1.43% of the company’s stock.
Kennametal Profile
Kennametal Inc (NYSE: KMT) is an industrial technology company that develops and manufactures tooling, engineered components and wear-resistant solutions for demanding applications. Its products are designed to help customers cut, shape, drill and protect materials used in manufacturing, transportation, energy, infrastructure and other industrial markets.
The company’s offerings include carbide and ceramic cutting tools, indexable inserts, solid carbide tooling, toolholding systems and related metal-cutting products.
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