Trexquant Investment LP acquired a new position in Kennametal Inc. (NYSE:KMT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,130 shares of the industrial products company’s stock, valued at approximately $207,000.
Other large investors have also modified their holdings of the company. BNP Paribas Arbitrage SA lifted its stake in shares of Kennametal by 134.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 43,614 shares of the industrial products company’s stock worth $1,632,000 after purchasing an additional 24,973 shares during the period. American Century Companies Inc. raised its stake in Kennametal by 69.6% during the 2nd quarter. American Century Companies Inc. now owns 1,709,479 shares of the industrial products company’s stock worth $63,969,000 after acquiring an additional 701,783 shares during the period. Vanguard Group Inc. raised its stake in Kennametal by 18.0% during the 2nd quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock worth $310,219,000 after acquiring an additional 1,263,163 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in Kennametal by 24.2% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 15,400 shares of the industrial products company’s stock worth $576,000 after acquiring an additional 3,000 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Kennametal during the 2nd quarter worth approximately $435,000. Hedge funds and other institutional investors own 98.67% of the company’s stock.
In related news, VP Judith L. Bacchus sold 18,125 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $47.00, for a total value of $851,875.00. Following the completion of the transaction, the vice president now directly owns 38,528 shares of the company’s stock, valued at $1,810,816. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Timothy R. Mclevish sold 7,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $47.00, for a total transaction of $329,000.00. Following the completion of the transaction, the director now directly owns 78,904 shares of the company’s stock, valued at $3,708,488. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,570 shares of company stock valued at $1,856,345. 2.00% of the stock is currently owned by insiders.
Shares of Kennametal Inc. (NYSE KMT) opened at $45.57 on Friday. The company has a current ratio of 2.71, a quick ratio of 1.41 and a debt-to-equity ratio of 0.63. Kennametal Inc. has a fifty-two week low of $31.12 and a fifty-two week high of $48.89. The stock has a market cap of $3,693.36, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98.
Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.17. Kennametal had a net margin of 5.18% and a return on equity of 15.71%. The business had revenue of $542.45 million during the quarter, compared to analyst estimates of $516.80 million. During the same period last year, the firm posted $0.11 EPS. The company’s revenue was up 13.6% on a year-over-year basis. equities research analysts anticipate that Kennametal Inc. will post 2.54 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Tuesday, November 14th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, November 13th. Kennametal’s dividend payout ratio (DPR) is presently 59.26%.
A number of equities research analysts have commented on the stock. Jefferies Group raised their target price on shares of Kennametal from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Credit Suisse Group raised their target price on shares of Kennametal from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. TheStreet upgraded shares of Kennametal from a “c+” rating to a “b” rating in a research note on Thursday, November 2nd. ValuEngine cut shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, BMO Capital Markets restated a “hold” rating and set a $45.00 target price on shares of Kennametal in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $45.23.
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Kennametal Company Profile
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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