James Investment Research Inc. trimmed its stake in shares of Kennametal Inc. (NYSE:KMT) by 31.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,560 shares of the industrial products company’s stock after selling 12,035 shares during the period. James Investment Research Inc.’s holdings in Kennametal were worth $976,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of KMT. Pearl River Capital LLC bought a new position in Kennametal during the fourth quarter valued at $30,000. Captrust Financial Advisors bought a new position in Kennametal during the fourth quarter valued at $44,000. Brand Asset Management Group Inc. lifted its position in Kennametal by 945.3% during the first quarter. Brand Asset Management Group Inc. now owns 4,035 shares of the industrial products company’s stock valued at $564,000 after purchasing an additional 3,649 shares during the last quarter. Jane Street Group LLC bought a new position in Kennametal during the third quarter valued at $211,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Kennametal in the 4th quarter worth about $170,000. 99.52% of the stock is owned by institutional investors.
Shares of Kennametal stock traded down $0.76 during trading on Wednesday, hitting $33.27. The stock had a trading volume of 332,466 shares, compared to its average volume of 637,187. The firm has a market capitalization of $2.78 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 1.31 and a beta of 2.09. The company has a current ratio of 2.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. Kennametal Inc. has a 12 month low of $30.32 and a 12 month high of $45.10.
Kennametal (NYSE:KMT) last posted its quarterly earnings results on Monday, May 6th. The industrial products company reported $0.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.02). The company had revenue of $597.20 million during the quarter, compared to analysts’ expectations of $626.27 million. Kennametal had a return on equity of 19.66% and a net margin of 10.28%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 EPS. As a group, sell-side analysts predict that Kennametal Inc. will post 3.06 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Monday, May 13th. Kennametal’s dividend payout ratio (DPR) is 30.19%.
KMT has been the subject of several analyst reports. Zacks Investment Research lowered shares of Kennametal from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. ValuEngine upgraded shares of Kennametal from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. KeyCorp lowered their target price on shares of Kennametal from $52.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Finally, Barclays upgraded shares of Kennametal from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $38.00 to $44.00 in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $46.00.
In other Kennametal news, VP Peter A. Dragich sold 35,346 shares of the firm’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $38.59, for a total transaction of $1,364,002.14. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.
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.
See Also: NASDAQ
Receive News & Ratings for Kennametal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal and related companies with MarketBeat.com's FREE daily email newsletter.