Mirae Asset Global Investments Co. Ltd. Purchases 1,437 Shares of Kennametal Inc. (NYSE:KMT)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Kennametal Inc. (NYSE:KMT) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,768 shares of the industrial products company’s stock after buying an additional 1,437 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Kennametal were worth $948,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in Kennametal in the 4th quarter worth $602,000. Tudor Investment Corp Et Al raised its stake in shares of Kennametal by 10.8% in the third quarter. Tudor Investment Corp Et Al now owns 198,026 shares of the industrial products company’s stock worth $4,927,000 after acquiring an additional 19,274 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Kennametal by 541.0% in the third quarter. GSA Capital Partners LLP now owns 86,155 shares of the industrial products company’s stock worth $2,144,000 after acquiring an additional 72,715 shares during the last quarter. Quadrature Capital Ltd grew its position in shares of Kennametal by 48.0% during the 3rd quarter. Quadrature Capital Ltd now owns 15,524 shares of the industrial products company’s stock worth $386,000 after buying an additional 5,037 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its position in shares of Kennametal by 1,070.2% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 124,067 shares of the industrial products company’s stock worth $3,087,000 after buying an additional 113,465 shares during the period.

Analyst Ratings Changes

KMT has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Kennametal from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. Morgan Stanley assumed coverage on shares of Kennametal in a research report on Monday, January 8th. They set an “equal weight” rating and a $24.00 price target on the stock. StockNews.com downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Barclays decreased their price objective on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.58.

Kennametal Trading Up 0.7 %

Shares of Kennametal stock opened at $24.35 on Wednesday. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 3.29 and a beta of 1.78. The company has a quick ratio of 1.06, a current ratio of 2.44 and a debt-to-equity ratio of 0.45. Kennametal Inc. has a 12-month low of $22.08 and a 12-month high of $30.60. The firm’s 50-day moving average price is $24.41 and its two-hundred day moving average price is $24.34.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, February 7th. The industrial products company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The firm had revenue of $495.30 million during the quarter, compared to analysts’ expectations of $498.99 million. Kennametal had a net margin of 5.86% and a return on equity of 9.94%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 earnings per share. On average, analysts forecast that Kennametal Inc. will post 1.49 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were issued a $0.20 dividend. The ex-dividend date was Monday, February 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.29%. Kennametal’s dividend payout ratio (DPR) is currently 53.33%.

Kennametal announced that its board has authorized a share repurchase plan on Wednesday, February 7th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 10.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Kennametal

In related news, VP John Wayne Witt sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $25.55, for a total value of $25,550.00. Following the completion of the transaction, the vice president now owns 1,343 shares in the company, valued at approximately $34,313.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.79% of the company’s stock.

About Kennametal

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.