Kennametal Inc. (NYSE:KMT) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its holdings in shares of Kennametal Inc. (NYSE:KMTGet Rating) by 1.3% in the first quarter, HoldingsChannel reports. The firm owned 75,782 shares of the industrial products company’s stock after acquiring an additional 962 shares during the period. Mutual of America Capital Management LLC’s holdings in Kennametal were worth $2,168,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Ariel Investments LLC increased its stake in shares of Kennametal by 2.0% during the 4th quarter. Ariel Investments LLC now owns 8,917,279 shares of the industrial products company’s stock worth $320,219,000 after purchasing an additional 174,596 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Kennametal by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,865,775 shares of the industrial products company’s stock worth $102,910,000 after acquiring an additional 12,031 shares during the period. Burgundy Asset Management Ltd. grew its stake in Kennametal by 1.3% in the 4th quarter. Burgundy Asset Management Ltd. now owns 2,845,361 shares of the industrial products company’s stock worth $102,177,000 after acquiring an additional 35,719 shares during the period. Victory Capital Management Inc. grew its stake in Kennametal by 5.5% in the 4th quarter. Victory Capital Management Inc. now owns 2,712,940 shares of the industrial products company’s stock worth $97,422,000 after acquiring an additional 142,417 shares during the period. Finally, State Street Corp grew its stake in Kennametal by 2.4% in the 4th quarter. State Street Corp now owns 2,530,387 shares of the industrial products company’s stock worth $90,866,000 after acquiring an additional 59,629 shares during the period.

Insider Activity at Kennametal

In other news, Director William M. Lambert purchased 36,698 shares of Kennametal stock in a transaction that occurred on Wednesday, May 4th. The stock was acquired at an average price of $26.23 per share, for a total transaction of $962,588.54. Following the transaction, the director now owns 52,360 shares in the company, valued at $1,373,402.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Loop Capital lowered their target price on shares of Kennametal from $29.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, July 20th. JPMorgan Chase & Co. lowered their target price on shares of Kennametal from $31.00 to $22.00 and set an “underweight” rating for the company in a research note on Tuesday, July 12th. Barclays lowered their price objective on shares of Kennametal from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Friday, July 8th. Morgan Stanley lowered their price objective on shares of Kennametal from $32.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Finally, UBS Group cut shares of Kennametal from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $27.00 to $19.00 in a research note on Friday, July 8th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.67.

Kennametal Stock Performance

Shares of Kennametal stock opened at $26.10 on Friday. The firm has a market cap of $2.16 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 2.47 and a beta of 1.89. The firm’s 50-day simple moving average is $25.04 and its 200-day simple moving average is $28.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 2.27. Kennametal Inc. has a 1 year low of $21.62 and a 1 year high of $41.22.

Kennametal (NYSE:KMTGet Rating) last issued its earnings results on Monday, May 2nd. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. Kennametal had a net margin of 6.91% and a return on equity of 11.05%. The business had revenue of $512.26 million for the quarter, compared to analyst estimates of $508.77 million. During the same quarter in the prior year, the business posted $0.32 EPS. Equities analysts forecast that Kennametal Inc. will post 1.73 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 24th. Investors of record on Tuesday, May 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Monday, May 9th. Kennametal’s dividend payout ratio is presently 49.08%.

About Kennametal

(Get Rating)

Kennametal Inc develops and applies 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. It operates through two segments, Metal Cutting and Infrastructure.

Further Reading

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Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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