Asset Management One Co. Ltd. Takes $124,000 Position in Kennametal Inc. $KMT

Asset Management One Co. Ltd. bought a new position in shares of Kennametal Inc. (NYSE:KMT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,399 shares of the industrial products company’s stock, valued at approximately $124,000.

Several other institutional investors also recently bought and sold shares of KMT. Ameritas Advisory Services LLC acquired a new position in Kennametal in the second quarter valued at approximately $27,000. US Bancorp DE increased its holdings in shares of Kennametal by 93.4% during the 1st quarter. US Bancorp DE now owns 2,145 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 1,036 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Kennametal by 293.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,153 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 1,606 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Kennametal in the 1st quarter valued at $52,000. Finally, Bayforest Capital Ltd acquired a new stake in Kennametal during the first quarter valued at $64,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group upgraded shares of Kennametal from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $19.00 to $21.00 in a research report on Friday, August 15th. Zacks Research upgraded Kennametal from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kennametal in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on Kennametal from $20.00 to $22.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 14th. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $24.00.

Kennametal Stock Down 2.8%

NYSE KMT opened at $22.27 on Friday. The business has a fifty day moving average price of $21.56 and a 200 day moving average price of $21.85. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.19 and a current ratio of 2.46. The company has a market cap of $1.69 billion, a P/E ratio of 18.56, a P/E/G ratio of 3.83 and a beta of 1.46. Kennametal Inc. has a one year low of $17.30 and a one year high of $32.18.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). The business had revenue of $516.45 million for the quarter, compared to analysts’ expectations of $527.52 million. Kennametal had a return on equity of 8.09% and a net margin of 4.73%.Kennametal’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 EPS. Research analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

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.