Fisher Asset Management LLC lowered its holdings in Kennametal Inc. (NYSE:KMT – Free Report) by 52.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,192,271 shares of the industrial products company’s stock after selling 1,325,073 shares during the quarter. Fisher Asset Management LLC’s holdings in Kennametal were worth $33,872,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of KMT. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Kennametal in the fourth quarter valued at approximately $28,000. Hantz Financial Services Inc. raised its position in shares of Kennametal by 350.2% in the third quarter. Hantz Financial Services Inc. now owns 1,373 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 1,068 shares during the period. Danske Bank A S bought a new stake in shares of Kennametal in the fourth quarter valued at approximately $31,000. Headlands Technologies LLC raised its position in shares of Kennametal by 80.7% in the second quarter. Headlands Technologies LLC now owns 1,527 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 682 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Kennametal by 142.3% in the second quarter. Smartleaf Asset Management LLC now owns 2,091 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 1,228 shares during the period.
Kennametal Stock Performance
Kennametal stock opened at $36.95 on Wednesday. The firm’s 50 day simple moving average is $37.18 and its 200 day simple moving average is $34.29. The company has a current ratio of 2.38, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $2.82 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 0.23 and a beta of 1.44. Kennametal Inc. has a 1-year low of $17.62 and a 1-year high of $43.81.
Kennametal Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, May 12th. Kennametal’s payout ratio is currently 45.20%.
Insider Buying and Selling
In other Kennametal news, VP Carlonda R. Reilly sold 13,410 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $36.31, for a total value of $486,917.10. Following the completion of the transaction, the vice president owned 38,746 shares of the company’s stock, valued at $1,406,867.26. The trade was a 25.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.43% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on KMT shares. Weiss Ratings lowered shares of Kennametal from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 20th. The Goldman Sachs Group set a $32.00 target price on shares of Kennametal in a report on Friday, February 6th. Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and set a $47.50 target price on the stock. in a report on Thursday, May 7th. Zacks Research lowered shares of Kennametal from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Kennametal from $37.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Six equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $36.93.
Read Our Latest Research Report on Kennametal
About Kennametal
Kennametal Inc is a global industrial technology company that designs and manufactures advanced materials, tooling systems, and engineered components for a range of demanding applications. Its solutions support precision metalworking, earthmoving, and wear-resistant environments, catering to customers seeking enhanced productivity, longer tool life, and reduced operating costs.
The company’s product portfolio spans indexable cutting tools, solid round tools, tool holders, metalworking fluid systems, wear parts, ceramics and composites, and custom-engineered components.
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